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GLOSSARY · BLOCKCHAIN & WEB3

MiFIR

MiFIR is the European regulation that complements MiFID II with transparency and reporting rules for markets.

WHAT IS IT? · FOR DUMMIES

If MiFID II is the rules of the game, MiFIR is the stadium's camera system and live scoreboard: it forces prices and trades to be visible with transparency and everything to be recorded. It goes hand in hand with MiFID II, but because it is a regulation it applies the same way across Europe without each country adapting it.

WHAT IS IT? · PRO

MiFIR (Regulation (EU) 600/2014, Markets in Financial Instruments Regulation) complements MiFID II by setting pre- and post-trade transparency requirements, transaction reporting to the competent authorities, and trading obligations for financial instruments.

As a regulation, it is directly applicable, with no need for transposition. Together with MiFID II it forms the framework applicable to crypto-assets that are financial instruments, and therefore to tokenized transferable securities.

01 / Key points

  • A directly applicable regulation, complementary to MiFID II.
  • Imposes pre- and post-trade transparency.
  • Requires transaction reporting.
  • Applies to financial instruments, including tokenized ones.

This entry is informative. It is not legal, tax or investment advice. The rules cited change: check the current version on BOE and EUR-Lex.