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.
Regulation
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.
Linear Investments loses appeal against £400k FCA fine for market abuse
Linear Investments insisted that no instances of market abuse went undetected or unreported, but FCA says oversight of surveillance systems was insufficient.
Fraction of buy-side firms ready for uncleared margin rules
SimCorp research finds only 7% of buy-side firms are ready to comply with the incoming rules in September.
Clash on Brexit share trading rules could see further UK-EU regulatory divergence
As UK and European regulators clash over post-Brexit share trading rules, it could spell further divergence for post-trade arrangements.
Goldman Sachs fined £34m for over 200 million MiFID transaction reporting errors
Goldman Sachs is handed largest penalty to date by the FCA after the watchdog found errors in more than 200 million transaction reports.