AFME calls for industry discussion on shortening settlement cycles in Europe
A new paper discusses the pros and cons of a one-day settlement cycle in Europe, a topic the industry seems to be reluctantly accepting is on the horizon.
Europe
European Supervisory Authorities recommend actions to combat challenging market conditions
In a joint risk report, the European Supervisory Authorities provide five policy actions for competent authorities, financial institutions and market participants to deal with ‘deteriorating’ economic outlook.
European investment grade bond prices fell 15% in wake of Russian invasion and inflation, finds ESMA
ESMA risk report found prices dropped 15% peak-to-trough between August last year and May 2022, nearly double that seen during the pandemic.
State Street Global Markets appoints new head of financing solutions for Europe
Incoming head brings considerable experience to the role, having previously served at Société Générale, Royal Bank of Scotland and BNP Paribas.
SI activity spike further damaging European intraday liquidity, report finds
Activity on systematic internalisers (SIs) hit 27% in June, according to Liquidnet data, reaching levels not seen since April 2019.
CME Group to launch European overnight index futures
New futures are expected to help clients manage sovereign debt risk in Europe once available.
European equities: the American dream?
As the European equities landscape becomes increasingly bloody and the largest US banks continue to dominate, Annabel Smith explores why European banks struggle to profit on their own turf and, if the Bloc were to need a home-grown champion, who it could be.
ESMA revisits third country CCP recognition applications
Applications had been suspended until 28 June; Chile, China, Indonesia, Israel and Malaysia will receive recognition status pending relevant conditions.
Is the US the ultimate winner in derivatives trading post-Brexit?
Lack of equivalence between the UK and Europe post-Brexit saw a huge chunk of derivatives trading move to the US, however, proposed upcoming regulatory changes have the potential to push some of that liquidity back across the pond.
AFME warns Mifir review could harm liquidity
Instead, the association has laid out its own recommendations which it predicts will protect the role of a market maker as a liquidity provider and banks as shock absorbers.