AcadiaSoft begins soft launch for compliance with phase 5 of UMR
Following a one-year delay to UMR, AcadiaSoft is helping firms test initial margin calculations with a mock go-live program.
Regulation
French regulator says SIs contribution to transparency is very limited
Analysis by the AMF found just 22% of the amounts traded by SIs in the continuous trading phase are subject to pre-trade transparency.
European asset managers pursue consolidated tape in MiFID II review
The European Fund and Asset Management Association said a lack of enforcement on costs of market data has been detrimental to consolidated tape efforts.
TRADE Calls: Meritsoft – Delaying CSDR
Daniel Carpenter, head of regulation at RegTech and post-trade services provider Meritsoft, a Cognizant company, tells The TRADE about how the ongoing changes to CSDR will impact the industry, and explains why so many market participants are not satisfied with the current framework.
Short selling bans lifted in Europe
Austria, Belgium, France, Greece, Italy and Spain have decided not to renew bans on short selling after restrictions were put in place in March.
European Commission endorses CSDR push-back
The endorsement comes two months after the ESMA stated it would postpone enforcing the CSDR settlement discipline regime following an industry-wide lobby.
US exchanges ordered to submit new governance plans for consolidated tape
Equity exchanges in the US have been told to submit new plans for control over the controversial consolidated tape.
Bloomberg Tradebook to pay $5 million penalty for undisclosed order routing
The SEC found that around 6.4 million client orders were routed by three unaffiliated brokers through undisclosed ‘low cost router’ arrangement at Bloomberg Tradebook.
UK looks to align with securities finance reporting rules post-Brexit
Trade repositories will be able to register with the Financial Conduct Authority (FCA) following the end of the Brexit transition period.
Buy-side rejects changes to dark trading and SIs under MiFID II review
Initial responses to the MiFID II review consultation reveal that asset managers are keen for a consolidated tape before any major changes to the rules are implemented.