The TRADE 59 - Q1 2019 | Page 65

[ I N - D E P T H | I N V E S T M E N T R E S E A R C H ] Over one year since the separation of payments for execution and research was introduced via MiFID II in Europe, Hayley McDowell examines the unintended consequences of unbundling for buy- and sell-side institutions and finds an industry still coming to terms with the change. Issue 59 // TheTradeNews.com // 65