New securities financing rule could give unwanted visibility into the buy-side’s trading book
Funds have raised concerns that SFTR requirements on collateral re-use will provide full view of trading book.
Regulation
ESMA adjusts share trading obligation plans for no-deal Brexit to ease industry concerns
European regulatory watchdog revises approach to STO for 14 UK stocks after FCA raises alarm over liquidity and market fragmentation under a no-deal scenario.
MiFID II having negative impact on European equity liquidity sourcing
Sourcing European equity liquidity continues to prove troublesome for asset managers under the new regulatory regime.
LCH RepoClear appoints UnaVista as trade repository ahead of SFTR implementation
LSEG units announce new deal for reporting of Securities Financing Transactions ahead of new regulations due in April next year.
Major banks fined over €1 billion for role in FX trading cartel
European Commission has fined Barclays, RBS, Citigroup, JP Morgan and MUFG a total of €1.07 million for involvement in FX trading cartel.
Dark pool trading volumes surge to pre-MiFID II levels
Analysis by TABB Group finds that dark pools volumes reached the largest share of on-exchange in April since before MiFID II was implemented.
TradeTech 2019: The key takeaways
The rise of artificial intelligence and new data sets dominated discussions at this year’s conference, while Brexit casts a long shadow over future plans.
Technical issue sees ESMA delay crucial MiFID II systematic internaliser data
Systematic internaliser data due to be published on 30 April has been delayed by the European markets regulatory after a technical issue.
Industry slams regulatory ploy to shift trading volumes to lit venues
Market participants at TradeTech have agreed that trading volumes have failed to shift to lit venues under MiFID II, but the regulation has led to unintended positive developments in the form of periodic auctions.
Unpicking the research unbundling conundrum
Over one year since the separation of payments for execution and research was introduced via MiFID II in Europe, Hayley McDowell examines the unintended consequences of unbundling for buy- and sell-side institutions and finds an industry still coming to terms with the change.