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Investissement institutionnel et révision de la directive MIF

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  • Nathalie Oriol

Abstract

MIFID has led to the proliferation of orders execution systems in Europe. Three years after launching, results are subject to discussion and pave the way towards a substantial revision project. In order to throw light on regulatory debate, this paper studies institutional investors? preferences for order execution methods. Based on Euronext Paris data, the study shows that trading services diversification and a certain degree of order flows fragmentation are justified when accompanied by adapted transparency rules. Classification JEL: G11, G14, G24, L51.

Suggested Citation

  • Nathalie Oriol, 2011. "Investissement institutionnel et révision de la directive MIF," Revue d'économie financière, Association d'économie financière, vol. 0(4), pages 217-236.
    • Handle: RePEc:cai:refaef:ecofi_104_0217
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    Cited by:

    1. Nathalie Oriol & Alexandra Rufini & Dominique Torre, 2015. "Should Dark Pools be Banned from Regulated Exchanges?," GREDEG Working Papers 2015-21, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.

    More about this item

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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