Presentation by Michael Diegelmann, CEO of cometis AG, at the IR Conference 2018, 30 January. Key takeaways:
- The most comprehensive change in EU financial market regulation of the
past decade, MiFID II, has been in force since the beginning of 2018.
- This will lead to massive shifts in the equity research business.
- For a long time, analyst research was part of the package for which
investors paid with the fees they transferred to banks and brokers for
securities trading transactions.
- Now analyst research must be paid separately.
- This leads to new rules and structures in the market.
- The overview on the following page is based on the presentation by
Michael Diegelmann and highlights the changes in the industry.
Broker Models according to MiFID II