Asian flows bloom post-Mifid II, TR's Penney says

Trade flow patterns are also changing, leading TR to launch a direct THB/JPY cross sometime this year

Neill Penney: “On January 3 when Mifid II went live, it was like a lightbulb turning on."

The implications of the second Market in Financial Instruments Directive on liquidity and global trading patterns is gradually crystallising some four months after the regulations came into force, with Asian markets showing signs of benefiting already.

Neill Penney, co-head of trading at Thomson Reuters, says the arrival of Mifid II was a lightbulb moment for foreign exchange markets, with derivatives flows from Asia such as forwards, swaps, non-deliverable forwards and options almost

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