The appeal of alternative trading platforms

Many financial advisers are unaware of the benefits afforded to investors by alternative trading platforms. Here is what multi-lateral trading facilities have to offer

A regulatory revolution occurred across Europe in November 2007, as far as secondary markets are concerned. The EU Markets in Financial Instruments Directive (MiFID) created a three-tier structure comprising regulated markets, multi-lateral trading facilities and systematic internalisers. Suddenly, MiFID gave credibility to alternative forms of trading systems, already commonplace across the US with its electronic communication networks. Prior to the initiative, in the UK, companies were admitted to trading on the LSE, Aim and OFEX (latterly PLUS). Now, not only is there a wider range...