TRADING VENUES

Bond platforms form lobby group to tackle MiFID II

Key fixed income venues set up industry association to deal with underrepresentation of electronic platforms.

By John Bakie john.bakie@strategic-i.com October 13, 2016 9:02 AM GMT

Several fixed income trading venues have got together to form a lobby group aimed at representing the interests of electronic bond markets.

The Electronic Debt Markets Association Europe (EDMA Europe) has been set up by BrokerTec Europe, MarketAxess Europe, MTS Group and Tradeweb Europe.

EDMA said it will work with its members to develop collective views on regulatory developments impacting the electronic fixed-income trading sector. It has set out principles to guide its activity, which include ensuring open access and fair, transparent markets, diversity of electronic trading protocols and equivalent regulatory treatment of all electronic trading platforms.

David Bullen has been appointed as secretary general of EDMA and will work closely with an executive committee.

Commenting on the founding of EDMA, Bullen said: “I look forward to representing the views and interests of existing and new EDMA members who together operate and run an essential component of European Financial markets and who, to-date, have been underrepresented in important industry and regulatory circles.”

Tradeweb’s global head of business development, Simon Maisey, added: “In a heavily regulated industry, multilateral trading venues such as Tradeweb have historically had limited representation. With MiFID II deadlines fast approaching, it has become imperative that trading venues are able to have an active dialogue with regulators and we believe that EDMA Europe will provide the right forum for such discussions.”