Companies in the European Union may face an “alarming” surge infunding costs if the bloc's markets regulator pushes too manytrades into the light, a bloc-wide business lobby said.
The European Securities and Markets Authority (ESMA) is fleshingout trading rules, including increasing pre- and post-tradetransparency requirements for non-equities such as swaps and bonds.A public consultation on implementation of the law known as MiFIDII ends on March 2.
“The potential impact of the rules is really alarming,” ErikBerggren, a policy adviser at Brussels-based lobbyistBUSINESSEUROPE, said last week in an interview. “It would beextremely worrying if an inappropriately calibrated transparencyregime would depress liquidity and result in increased borrowingcosts.”
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