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Game Changer MiFID II

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Presentation by Michael Diegelmann, CEO of cometis AG, at the IR Conference 2018, 30 January. Key takeaways:

  • The most comprehensive change in EU financial market regulation of the
    past decade, MiFID II, has been in force since the beginning of 2018.
  • This will lead to massive shifts in the equity research business.
  • For a long time, analyst research was part of the package for which
    investors paid with the fees they transferred to banks and brokers for
    securities trading transactions.
  • Now analyst research must be paid separately.
  • This leads to new rules and structures in the market.
  • The overview on the following page is based on the presentation by
    Michael Diegelmann and highlights the changes in the industry.

Broker Models according to MiFID II