The IRSG MiFID Working Group has produced a short briefing paper on trading transparency and market liquidity in the MiFID2/MiFIR proposals. The group agrees that an increase in pre- and/or post-trade transparency in some segments of the non-equity markets could deliver benefits to market participants and the public. However, any newly introduced transparency regime should be carefully calibrated so that its costs do not outweigh its potential benefits.
You may also be interested in the following related reports:
IRSG response to European Commission MiFID proposals
IRSG briefing on third country provisions in the EC Proposal on MiFID
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