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And Another Thing...
While I am generally unconcerned about the FX industry's preparedness for MiFID II - it has a long and proud history of hitting deadlines - I am bothered by a potential psychological impact from the legislation. Too many are looking at TCA in the light of MiFID II and thinking "box-ticking", to the extent that TCA reports are left unread and even un-opened. The data is good, and it should be used to make execution better, not to fulfil a compliance exercise.

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