Banks are engaged in a price war in a bid to retain or grow market share before the European Union’s MiFID II rules come into force in January. Deutsche Bank AG has already halved the asking price of its fixed-income and macro research to 30,000 euros ($35,000) a year for up to 10 users, including contact with analysts, and Danske Bank A/S and ING Groep NV have said they plan to make some research available for free. The revised Markets in Financial Instruments Directive aims to root out conflicts of interest by separating the cost of analysis and trading, preventing banks from using research as an incentive to trade.
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