17 GEM and standalone funds participated following the success of the previous study, the aim was to see what has changed after the implementation of MIFID II. To the surprise of the participants, bundled rates were lower in some markets than unbundled rates. Discrepancies in some frontier markets reveal that some have not reacted to MIFID.
Zeroflows is a London based startup offering a liquidity information platform for emerging and frontier market stocks. Used by over 75 asset managers, including the largest managers in the asset class, as well over 80 local brokerages, Zeroflows network significantly broadens liquidity reach, while minimizing information leakage and reducing transaction costs.