Implementing Mifid by European Execution Venues - between Threat and Opportunity

This article describes the results of the study quot;MiFID - The perspective of European execution venuesquot;, which was conducted among 33 European execution venues in the third quarter of 2007. The study assesses the status quo of the implementation of the Markets in Financial Instruments Directive (MiFID) immediately prior to its applicability date November 1st 2007 at European execution venues. It identifies new services that execution venues are implementing or intending to implement and evaluates the perspective of European execution venues concerning the impact of MiFID on competition in the industry, on key market quality indicators and on market structure