Good morning, here’s your Monday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
Mifid II begins to bite
Asset managers must show the top five brokers they have used for trading over a calendar year from today for each class of financial instrument, as Mifid II rules begin to come into force.
Fund managers in Europe may face tough conversations with some brokers this week after a regulatory drive to publicly disclose more information on their trading relationships begins.
Trump team heads to Asia
US president Donald Trump is dispatching Treasury secretary Steven Mnuchin and a team of economic advisers to China this week to develop the framework for a mutually agreeable trade deal.
The hope is that Team Trump will leave Beijing with the framework for a trade agreement that both sides can live with.
Not only would that avoid the escalation that investors fear, but it could put a stop to the unfair trade practices that cost US businesses billions.
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UK orders tree new military support ships
The UK Ministry of Defence is set to launch a £1 billion order for three new military support ships that will go to full international tender.
New fleet solid support ships are needed to service the UK’s £6.3bn Queen Elizabeth-class aircraft carriers and their strike force of new F-35 fighter planes.
The GMB union says as many as 6,700 jobs will be created or secured if a UK shipbuilder wins the order.