Czech proposals signal Mifid U-turn as 10% DVC is re-tabled in return for relaxation on systematic internalisers
EU member states now have the opportunity to remain silent or vocally oppose the proposals until 2 pm CET today.
Europe
European Commission investigating Deutsche Bank and Rabobank over bonds trading cartel
Watchdog has concerns that between 2005 and 2016 the banks exchanged commercially sensitive information and coordinated their EEA bonds pricing and trading strategies.
Eurex lures euro clearing volumes to Europe post-Brexit with new buy-side incentive scheme
The clearinghouse confirmed the move was to reduce reliance on CCPs outside of the EU in line with regulatory objectives.
The TradeTech FX Daily launches with official guide to the event
The magazine features exclusive interviews, insights, and the official accompanying event agenda for this week’s upcoming event in Amsterdam.
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.
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.