One of the European politicians responsible for approving the revised Markets in Financial Instruments Directive has said the new trading rulebook will likely be phased in to help firms comply with the mammoth legislation.

Speaking at the FIA Futures and Options Expo, an annual trade show for the futures industry taking place in Chicago, the Conservative MEP Kay Swinburne said it "may be appropriate that some elements [of Mifid II] incorporate a form of phase-in".