MiFID Helpline Gets 1,000 Queries a Day as Firms Rush to Comply
European Banks Brace for MiFID II, Seek to Reduce Costs
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Derivatives traders have been submitting more than 1,000 help requests a day to a system set up to ensure they comply with the MiFID II rules that are launching tomorrow.
The sheer number of queries has been a “challenge,” said Sassan Danesh, head of U.K. consultancy eTrading Software, which is partnered with the Derivatives Service Bureau that both runs the helpline and deals with other aspects of compliance with the European Union rules overhaul.