EU regulator seeks further evidence on concerns auction systems evade MiFID II rules
Controversial auction systems face regulatory intervention in Europe if ESMA finds the mechanism does not operate in the spirit of MiFID II.
Regulation
Former Deutsche Bank swaps trader fined $350,000 for trying to hide trading losses
Jacob Bourne, a swaps trader and managing director at Deutsche Bank, mismarked swaps valuations to try and conceal losses.
ESMA proposes ‘no-deal Brexit’ rule change for novation of uncleared OTC derivatives
European regulator publishes report with technical standards with provisions for a no-deal Brexit.
Brexit will drive regulatory changes within MiFID II review, says MEP Swinburne
Political factors taking centre stage for future regulatory reviews or introduction of MiFID III, according to MEP.
UK competition authority gives green light for CME and NEX merger
CME and NEX have received clearance from the UK competition authority, meaning all regulatory and antitrust approvals have been given.
FX trading ‘Cartel’ acquitted of benchmark rigging in the US
Traders from JP Morgan, Barclays and Citi allegedly used chatrooms to rig benchmark exchange rates between 2007 and 2013.
Former Deutsche Bank traders convicted for Libor rigging scheme
Matthew Connelly and Gavin Campbell Black have been convicted by the US Department of Justice for Libor manipulation.
SEC overturns Nasdaq and NYSE data fee hike
US regulator rules in favour of SIFMA’s challenge of its support in market data fee increases at Nasdaq and NYSE.
Block trading in Europe sees €8.1billion value traded record
Value traded of block trading in Europe saw record highs last week, led by Liquidnet, ITG POSIT, Cboe LIS and Turquoise Plato.
CME gains regulatory approval for NEX takeover
US Department of Justice and the UK’s FCA give green light for CME Group’s acquisition of NEX Group.