ESMA launches CTP selection for shares and ETFs
Interested parties have until 25 July to submit requests to participate in the selection procedure.
Regulation
EU reaches consensus on T+1; high-level report to be delivered end of June
Giovanni Sabatini, independent chair of the EU T+1 industry committee, provides the latest update at The Network Forum in Madrid.
SEC’s acting director of the trading and markets division departs
Replacement, Jamie Selway, is set to take over as head of the division in July.
AFME calls out EU’s proposed capital markets integration plan citing equity market structure oversight
A key concern regards the proposal for a US-style order protection rule as the European Commission seeks to improve the integration and efficiency of EU capital markets.
One Trading and LSEG Regulatory Reporting Solutions partner to meet European compliance standards
The partnership follows the launch of One Trading’s Mifid II-regulated perpetual trading venue for crypto perpetual futures in April 2025.
Even the smallest buy-side firms will have to spend a quarter of a million dollars on T+1 switch
European implementation should learn from key success factors from North America’s transition ahead of 11 October 2027 settlement, according to a report produced by Firebrand Research, Clearstream, DTCC and Euroclear.
FCA confirms pay for research model with joint payment option for fund managers
The decision comes off the back of recommendations from the ‘investment research review’; rules affect full-scope UK alternative investment fund managers (AIFMs), among others.
European Council excludes SFTs from T+1 requirement
The exemption, approved by the Committee of Permanent Representatives, comes as part of the Council’s broader agreement on a negotiating mandate aimed at accelerating settlement timelines across the EU.
Hidden Road receives FINRA broker-dealer approval
The approval builds on Hidden Road’s recent expansion of its fixed income prime brokerage platform and follows the firm’s acquisition by Ripple announced earlier this month.
European Commission exploring US-style order protection rule among other market reforms
New consultation paper explores how effective US Reg NMS rule is while also re-tabling VWAP Crossing in Europe, reviewing dark trading levels in Europe, the prospect of 24-hour trading and more.