Hedge fund manager Crispin Odey has said the incoming MiFID II rules on research will lead to fewer trades, less price discovery and less efficient markets, and could be devastating to markets when combined with the end of QE.
In a note to investors, Odey warned MiFID II, which comes into effect on 3 January 2018, would cause an increase in capital costs meaning firms with less access to research would trade less, according...
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