The Impact of MiFID II/MiFIR on European Market Structure: A Survey among Market Experts

This study presents the views of leading financial market experts concerning the impact of MiFID II/MiFIR on the European market structureand the future relative importance of different types of trading venuesand over-the- counter(OTC) trading. In an online questionnaire among experts on trading and/or market structure, 111 respondents shared their opinions concerning the impact of the MiFIR trading obligation, dark pool volume caps, the new trading venuecategory organized tradingfacility (OTF) for non-equities, and the impact of Brexit.