The London Metal Exchange now has 30 months before the new rules on the buying and selling of derivatives apply TIMES PHOTOGRAPHER RICHARD POHLERegulators have granted waivers to some of Europe’s largest exchange operators on the first day of the implementation of new rules that are meant to make markets more transparent and less prone to crashes. The London Metal Exchange and ICE Futures Europe were handed postponements by the Financial Conduct Authority, giving them a 30-month extension to rules on the buying and selling of derivatives. Yesterday marked the deadline for the implementation of Mifid II, the second iteration of the Markets in Financial Instruments Directive, which has been hailed as the biggest overhaul of the financial services industry since the Big Bang reforms of the 1980s. Mifid II governs everything from how investors pay for services such as investment research and buying and selling financial assets,…

Source: The Times January 04, 2018 00:02 UTC