The association said the European Commission’s definition of PFOF in its MiFID II amendments is vague and leaves potential loopholes for those trying to skirt the new rules.
Lobbyists highlight concerns around the market impact of simultaneous close-out of positions at UK CCPs, market fragmentation and lack of liquidity at EU CCPs, and increased costs.
AFME, ISDA and ISLA among trade bodies to deliver the concise message of delay the settlement discipline regime.
New chair takes over from Michael Cole-Fontayn who has been chair of trade group AFME for the last six years.
EU regulator says it plans to consult this summer on equity transparency after issues relating to the granularity and accuracy of its data were highlighted by a new report.
According to Oxera and the Association for Financial Markets in Europe (AFME), 83% of European equity trading takes place on venues, contrary to recently published data.
As the consultation period for Europe’s Settlement Discipline Regime concludes, industry associations again step up calls for the removal of mandatory buy-ins.
Nasdaq has backed FESE’s claims that reducing market hours is the wrong move and would have no impact on the wellbeing of traders.
Market participants now have until 30 June to respond to Euronext’s market hours consultation due to the coronavirus pandemic disruption.
Market participants were sent the consultation this week to provide feedback on shorter trading hours by mid-May.