The TRADE sits down with managing director of Susquehanna International Securities, John Keogh, to discuss the potential implications of the recent MiFIR draft report - warning that "ambiguity is the enemy of transparency".
In a joint risk report, the European Supervisory Authorities provide five policy actions for competent authorities, financial institutions and market participants to deal with ‘deteriorating’ economic outlook.
ESMA risk report found prices dropped 15% peak-to-trough between August last year and May 2022, nearly double that seen during the pandemic.
New guidelines published by ESMA and the European Banking Authority will allow for an assessment used to take supervisory measures to address risks and concerns among investment firms.
The regulator has updated its Q&As on Mifid II and Mifir market structure topics to clarify guidance on automated trading functionalities and compliance when using third party systems.
A new draft report on Mifid II amendments confirms plans to ban payment for order flow (PFOF) in Europe, as well as removing dark pool caps and supporting a pre-trade consolidated tape, among others. The TRADE explores these legislative updates in detail to provide a comprehensive summary of the proposed changes.
New consultation builds on the progress made with the benchmark transition in the interest rate derivative market.
Applications had been suspended until 28 June; Chile, China, Indonesia, Israel and Malaysia will receive recognition status pending relevant conditions.
The regulators fourth test of Central Counterparties (CCPs) showed proof of resilience but found that there was room to improve risk management frameworks.
In contrast, UK-CCPs have only been granted time limited equivalence of three years to reduce EU institutions reliance on them.