The Federation of European Securities Exchanges (FESE) asked Oxera to examine how the EU’s Markets in Financial Instruments Directive (MiFID I), and more recently MiFID II, have affected equity markets, the role of price formation, and the impact of trading venues charging for market data.
European airports with more than 5m passengers per annum are regulated by the Airport Charges Directive (ACD), but the European Commission is considering whether to revise this. Oxera, in partnership with CMS, and on behalf of ACI Europe, developed a new practical way for member states to determine which airports face effective competition and could
Online platforms offer many benefits to business users and consumers, and play an important role in society in bringing people and/or businesses together.
Smartphones have become central to our digital lives. We use them to connect with our friends and family, and to access information, entertainment and markets. With competition enforcers increasingly intervening in digital markets and regulatory authorities examining many of the issues that can arise in these markets, it is vital to understand how the smartphone
Data is everywhere in the online world, be it as a means of exchange for services, an input for customisation or machine learning, or as variables that feed into matching algorithms. Data has gained increasing attention from academics and policymakers. Instances of data misuse—such as the Cambridge Analytica case in early 2018—brought to the public’s
The influence of digital platforms has expanded significantly over the past decade. Some of today’s largest companies and best-known brands did not even exist 20 years ago. The innovative products, services and commercial opportunities that these digital power houses provide have become central to many aspects of modern-day life. While this might lead authorities to
The digital revolution has led to a significant growth in companies’ ability to capture, store and analyse data about their customers, competitors and the wider world. Increasingly, companies are using this information to develop algorithms that set prices for them. But how might the automation of pricing through algorithms affect competitive outcomes in markets, and
In March 2018, the Mayor of London set out the transport challenges for London as including congestion and air pollution, alongside road safety and a lack of physical activity among Londoners. To support the objectives of reducing congestion and improving air quality, Transport for London is consulting on two changes to transport policy in London.
Oxera has produced a study for the Rail Working Group that looks at the microeconomic benefits of the Luxembourg Rail Protocol in South Africa