Government sets MiFID II rules

The Polish government approved a draft bill which implements MiFID II directive into Polish law. The new solutions include, applying risk management measures to companies dealing with algorithmic and high-frequency trading, introduction of a new category of trading system - an organized trading platform, and requirement for investment firms to provide more detailed information regarding their services, among others The proposed solutions should increase transparency of the market, create a level playing field for its participants and increase protection of investors, the government statement said. MiFID is the updated EU-wide regulation that increases the transparency across the European Union's financial markets and standardizes the regulatory disclosures required for particular markets. The MiFID implemented new measures, such as pre- and post-trade transparency requirements, and set out the conduct standards for financial firms.