EU poised to delay securities reform by a year

The European Union's landmark reform of securities markets to apply lessons from the financial crisis may need to be delayed by a year to January 2018, a European Commission official said on Tuesday. MiFID II introduces reforms that were agreed at the global level during the 2007-09 financial crisis, such as trading derivatives on electronic platforms to improve transparency. The United States has already introduced such changes under its reform of Wall Street know as Dodd Frank.