See here for an interesting article on the ICIS site on whether the upcoming MiFID II reduction in exemptions will lead to an exodus of companies from the EU if they need to get MiFID licences.

There has been a great deal of push back on the prospect of financial regulation engulfing commodities traders, although the signals are that there will not be a huge change in the proposals to accommodate the complaints.

The article suggests that despite this, the chances of traders moving location remain low.