How should the new OTF category be defined? How do we make it sufficiently distinct from MTFs and the other venue categories? Should it allow for all types of trading methods (such as voice broking)? How will the OTF definition under MiFID affect other pieces of legislation? Proprietary trading under the OTF category. Should the OTF category be limited to non-equities? How do we draw the line between OTC and OTF? What OTC trading is functionally similar to activities taking place on regulated markets? How do we define liquidity in this context? How do we draw the line between MTFs and OTFs? What problems may arise from the discrepancies between the OTF category and the US Swap Execution Facility (SEF) category? How can those problems be tackled?
María Teresa Fábregas Fernández Acting Head of Unit G3- Securities Markets, DG MARKT, European Commission
Anne E. Jensen Member of the European Parliament
John O’Donnell EU Correspondent, Thomson Reuters
Claudio Salini Secretary General, CONSOB
Ryan Chidley Senior Equity Trader, APG Asset Management