The implementation of the new financial instruments market directive in the EU m

The extensive reform of the EU's financial markets will start on January 3 and has been postponed for a year. Regulators had agreed at the last minute in the hope of avoiding any deal chaos.

December 15, 2017, the Frankfurt am Main stock exchange shows the stock price trend on the big screen. REUTERS / Staff / Remote
The new rules will require banks, asset managers and traders to report detailed information on trillions of euros in transactions, reflecting the internal conditions of the stock, bond, commodity and derivatives markets.

Banks and trading houses have spent millions of euros preparing for the day. Expand and IHS Markit, both owned by Boston Consulting Group, predicted that major global banks and asset managers will spend $ 2.1 billion this year to comply with the new regulations.