Isda rejects MiFID II liquidity September 25, 2014 X LinkedIn Email Show more sharing options Copy Link URLCopied! Print X LinkedIn Email MiFID II's definition of liquidity will not work for the swaps industry, according to the International Swaps and Derivatives Association. Here's why Unlock this content. The content you are trying to view is exclusive to our subscribers. To unlock this content: Take a Free Trial or Login