The European Securities and Markets Authority Friday published 1,611 pages on how it intends to turn the revised Markets in Financial Instruments Directive into practical and implementable standards.

Steven Maijoor, Esma's chair, said in a statement that Mifid II, as it has been dubbed, would have a "significant impact on the EU's securities markets, its users and infrastructure providers". He added it would bring greater transparency" and "strengthen investors' trust in the financial sector."