European regulators make sweeping changes to MiFID in bid to fortify lit markets
The European Commission and ESMA have overhauled the MiFID II and MiFIR regulations including moves to reduce dark volume caps to 7% and discourage volumes from SIs.
Regulation
European powers move to allow for postponement of buy-in regime
The implementation date of the controversial aspect of the settlement discipline will no longer be 1 February 2022 with experts suggesting the delay could be two-to-three years.
Mandatory buy-in regime could be delayed by up to 2-3 years, but prepare just in case, says industry expert
The buy-side are being urged to prepare for the introduction of the mandatory buy-in regime, despite there being potential for a two-to-three-year delay in the controversial aspect of a new regulation.
ESMA amends derivatives and clearing trading obligations to aid LIBOR transition
The proposed changes come as part of the benchmark transition away from EONIA and LIBOR and onto new alternative risk-free rates benchmarks such as €STR.
From climate change to biodiversity: Beyond the ESG buzz words
As COP 26 draws to a close and in a week where the first sustainability initiative in the trading space was launched, we look at the role asset managers can play in the climate urgency along with the standards and data needed to support the journey.
LCH welcomes European Commission’s planned extension to CCP equivalence
European Commissioner intends to minimise short-term risk of disruption through the extension.
UK and EU in danger of “Balkanisation” of liquidity if they diverge too much, says equities head
Speaking at TradeTech 2021, head of equities at Premier Miton warned that too much regulatory divergence could lead to friction caused by a fragmented liquidity landscape.
DTCC to offer CSDR penalty calculation service for failed trades
New service will also flag transactions that are in scope for CSDR, providing users with the ability to identify priority work prior to Settlement Date.
FICC to pay $8 million for inadequate risk management policies
Securities and Exchange Commission found that FICC’s risk failings could’ve resulted in significant costs for participants and the wider US financial system.
S&P Global and IHS Markit get green light from European Commission for $44 billion megadeal
The deal has won conditional approval from Brussels after the Commission launched an investigation into the transaction due to competition concerns in September.