Ex-CFTC Commissioner allays derivatives fragmentation fears
The European Commission has adopted the initial margin rules, which is set to come into force in January 2017.
Despite gaining clarity on unbundling rules, industry participants have noted the UK’s stricter stance on implementation.
Threshold for trading venues will determine which are subject to consolidated tape rules.
RPAs can be funded through CSAs, but brokers can no longer retain money intended to pay for research.
Research reveals total cost for industry is forecast at over $2 billion.
Sergio Emotti has said new entrants in FinTech should not be free from regulation.
Uncleared margin rules have caused significant increase in central clearing of FX.
Barclays fined $500,000 for failing to produce confirmations on over a thousand trades.