EU unveils ambitious plan to unify Europe’s financial markets
The measures, developed in line with Europe’s Savings and Investment Union (SIU) strategy, aim to remove barriers, simplify supervision, and encourage innovation across the EU.
Regulation
Ediphy consents to lifting the automatic suspension of the FCA UK bond tape contract
Ediphy has confirmed that it will continue with its claim for damages in the High Court in parallel; Etrading Software tells The TRADE that it welcomes the decision and endorses two complementary transparency initiatives.
Time zones, FX costs and legacy rails threaten Hong Kong’s path to digital settlement
Regulatory fragmentation, legacy infrastructure and limited RMB liquidity continue to constrain Hong Kong’s ambitions to become a fully integrated digital market and RMB hub, panellists at The Network Forum: Asia warn.
Etrading Software submits witness statement to support FCA’s appeal to the High Court on bond CT
The move marks the latest update in the legal proceedings, after the EU bond consolidated tape provider (CTP), Ediphy, appealed the decision to award the mandate to Etrading Software in September.
FCA asks High Court to lift suspension on bond consolidated tape award
The UK’s bond CTP tender winner, Etrading Software, tells The TRADE the application is a strong signal to market participants to continue their preparations for the launch of the UK tape, while the legal challenge proceeds in parallel.
FIX Trading Community proposes four reforms for the European consolidated tape
The suggestions are aimed at ensuring increased investor interest in European capital markets.
More instruments than expected could potentially be affected by new SVC in EU
With periodic auctions seemingly absorbing some of the liquidity previously seen in the dark following news of a Single Volume Cap (SVP) in the EU, additional effects are yet to be fully understood, says expert.
Trade associations call on ESMA and the European Commission to strengthen consolidated tape framework
In a co-signed letter, the associations outline five key recommendations, which include expanding the depth of pre-trade quotes and adding venue identifiers on pre-trade data.
OneChronos receives FCA approval in the UK
"Through measuring the execution outcomes when trading in the OneChronos ATS in the US, third party validation is showing market leading high quality, low reversion metrics and we intend to bring this experience to European clients," Scott Bradley, chief executive of OneChronos Markets UK, told The TRADE.
‘The clock is ticking’ remind experts as the 24 month countdown to T+1 in Europe looms
With ValueExchange research in April revealing that 26% of firms surveyed indicated they would miss the target date, the UK Accelerated Settlement Taskforce is urging firms who have not begun preparing to do so now, reiterating that “rewards will be meaningful”.