EU MiFID II: Transforming Financial Markets Training

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Course Summary

MiFID II reshaped how European trading works, from where deals happen to what firms must disclose. This Ethena course shows your team how the directive governs venues, dark pools, systematic internalizers, transparency, and the trading obligation.

What MiFID II set out to fix
Trading venues and dark pool limits
How systematic internalizers operate
Transparency and trading obligation rules

Included Modules:

What MiFID II Was Designed to Achieve

Explains the EU’s revised Markets in Financial Instruments Directive and its goals of stronger investor protection, fairer markets, and transparency.

MiFID II and Where Trading Happens

Looks at how MiFID II pushes more trading onto regulated venues and reduces opaque over-the-counter dealing across European financial markets.

Comparing Venue Types Under MiFID II

Compares regulated markets, multilateral trading facilities, and organised trading facilities, showing how MiFID II defines each venue and the rules they follow.

MiFID II and the Regulation of Dark Pools

Explains how MiFID II controls dark pool trading through the double volume cap, limiting trades that happen without pre-trade price transparency.

What Is a Systematic Internalizer?

Defines a systematic internalizer under MiFID II as a firm that trades against client orders from its own book outside a regulated venue.

MiFID II Transparency Obligations

Covers the pre-trade and post-trade transparency rules MiFID II imposes, requiring firms to publish quotes and report executed trades to the market.

Complying with the MiFID II Trading Obligation

Explains the MiFID II trading obligation, which requires certain shares and derivatives to be traded only on approved venues rather than off-exchange.

Why is this training important for workplaces?

Anti-money laundering (AML) is crucial for maintaining the integrity of financial systems and preventing illegal activities. Implementing strong AML measures protects businesses from reputational damage, legal consequences, and financial losses. It ensures compliance with regulatory requirements and enhances trust among clients, investors, and stakeholders. By understanding and actively addressing money laundering risks, organizations can foster a safe and secure environment, safeguard their assets, and contribute to the overall stability of the financial ecosystem.

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