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More than one third of investor targets globally are directly identified by the investor relations team, according to recent research from IR Magazine. There’s no question that this number has increased due to the effects of Mifid II and the changes to corporate access it has initiated.
The same research shows IR teams are more likely to have decreased, rather than increased, their use of brokers for investor targeting. ...
Mifid II Archive
Two years on from the introduction of Mifid II, large and mega-cap companies’ IR budgets in Europe have been curtailed, while resources allocated for IR activities at small and mid-cap firms in the region have seen an increase, research shows.
Mega-cap companies have experienced the greatest fall in IR spending in the last five years, with a notable drop over two years, according to an overview of the IR Magazine Global Investor Relations Practice Report ...
While Mifid II has changed the economics of corporate access for both the buy side and the sell side, issuers are well positioned to make the most of these changes by engaging with both parties, according to speakers at the recent IR Magazine Think Tank in Palo Alto.
Grant Bartucci, associate director of corporate access and broker relations at Point 72, explained that one of his responsibilities at the hedge fund is to make sure the fund is focused on consuming the...
IROs used a recent survey about Mifid II to let off some steam about the European regulation. Half of IR professionals say they have a negative view of the impact of Mifid II, while just 14 percent take a positive view, according to a new research report from IR Magazine.
The research polled 79 IROs on their feelings about Mifid II and its impact on their IR programs. The sur...
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Since its implementation in January 2018, Mifid II has had a ripple effect on the financial system – not just in Europe, but also in the U.S. and more gradually in Asia. The aspect of Mifid II that has been most discussed from day one – and that has the most far-reaching implications – is how buy-side firms pay for the research they use to make investment decisions.
In the EU, Mifid II forced the unbundling of trading and re...
Victoria Hyde-Dunn, head of IR at 8x8, moved from Visa to the small-cap cloud communications firm in 2017. Here she talks about what it’s like to have worked across a range of companies, in terms of what they do, how their cap size impacts IR and their ability to attract sell-side coverage – a theme she’ll be discussing at the...
While equity trading in Europe fell in July, dark-pool trading volumes swelled to their highest level since Mifid II was introduced 19 months ago, according to analysis by research and consulting firm TABB Group.
The research reveals that the total average daily trading volume for Europe’s equity markets during July declined 15 percent to €53 bn ($59 bn) while dark trading rose, accounting for 9.6 percent of all on-exchange activity.
Such highs have not b...
In the latest impact of Mifid II coming to America, a major investigation concentrating on research for small issuers has been successfully instigated by US politicians, on the back of the US coming closer to the European regulation.
The US lower House of Congress, the House of Representatives, has passed a bipartisan bill requiring the SEC to study the provision of investment research into small issuers. The bill has been sent to the upper House of Congress, the Se...
Research unbundling under Mifid II has hit institutional equities in the US, with research showing that buy-side firms have significantly reduced their commission pool over the last few years.
New York-based research and consulting firm TABB Group, which spoke with 100 asset-management trading heads, reveals that investment managers have reduced their US commission pool by 42 percent since peaks in 2015.
The study reveals that the unbundling of research and c...
Nineteen months into its existence, the impact of Mifid II is taking shape, with the latest study highlighting that sell-side research coverage has fallen – with some companies losing coverage completely.
The study – ...