The Wall Street Journal went in-depth (they're like that):
New Rules to Cut Hassle, Expense Of Trades in EU
Investing in Europe is about to become a lot easier -- and cheaper.
Beginning Thursday, new rules will eliminate many of the barriers within the European Union that have made trading in stocks an expensive hassle, introducing individuals and companies to a world of investing that their U.S. counterparts have long taken for granted.
The rules, adopted after a gestation period of more than seven years, will open the way for financial firms to compete with one another across Europe, force them to get the best prices for their customers and outlaw national monopolies that have allowed stock exchanges to charge exorbitant fees.
One of the most tangible results: The cost of trading stocks in Europe could fall by as much as 25% within a year.
"It's certainly the biggest thing for the European financial markets since the introduction of the euro" in 1999, says Richard Portes, professor of economics at London Business School and president of the Centre for Economic Policy Research....MORE
I'd say Mr. MacDonald got himself a money quote!