Markets In Financial Instruments Directive - MiFID

This terms sounds like it comes from an accountant writing George Orwell fan fiction. But the Markets In Financial Instruments Directive is a real thing, and it's about as bureaucratic as it sounds.

The MiFID represents a law in the European Union regulating financial exchanges and firms that provide financial services.

Basically, it provides rules for the trading of so-called financial instruments...things like stocks, bonds, derivatives, etc. The stipulations are meant to provide transparency for the markets and standardize rules across the EU (where there are a lot of financial markets running in separate countries).

The MiFID first went into effect in 2007.