MiFID II and transparency of bonds features. The transparency changes are profound and significant. For a market with tens of thousands of securities, with high volumes in specific issues and a long tail for many others, this transparency will have a profound impact and be interesting to say the least. RTS 2 has requirements on transparency to ensure that investors are informed as to the true level of actual and potential transactions, irrespective of whether the transactions take place on Regulated Markets (RMs), Multi-lateral Trading facilities (MTFs), Organised Trading Facilities (OTFs), Systemic Internalisers (SIs) or outside these facilities. This transparency is meant to establish a level playing field between trading venues so that price discovery of a particular financial instrument is not impaired by fragmentation on liquidity. Meaning that there are new both pre-trade and post trade transparency requirements […]