ESMA opens door for T+1 implementation in Europe
European regulator launches a call for evidence to assess the impact of a shorter settlement cycle on the continent; final report scheduled for Q4 2024.
Tag: AFME
FCA’s consultation period for UK consolidated tape closes with market expressing key considerations ahead of its development
AFME lists key considerations to take on board around the establishment of a UK consolidated tape as the FCA’s consultation period, set out in July, closes on Friday.
Buy-side ‘aware and worried’ about T+1 as implementation and testing ramps up
Europe and Asia Pacific firms are honing their focus in recent months amid mounting pressure surrounding the shift to T+1 in North America.
Recent EU consolidated tape compromise is a ‘missed opportunity’, says AFME
AFME chief says inclusion of sufficient pre-trade information has been lost in negotiations and could lead to suboptimal outcomes.
Joint trade associations highlight equity, fixed income and market data concerns ahead of upcoming Mifir review
AFME, EFAMA and BVI have urged co-legislators to take an evidence-based, addressing industry concerns appropriately, even if this results in a longer time to complete the negotiations.
European Commission adopts draft Memorandum of Understanding with the UK
The MoU, however, will not make any decisions around the adoption of equivalence or deal with access of UK-based firms to the single market or EU firms’ access to the UK market.
Average daily equity trading down 15% year-on-year, says AFME
AFME’s latest equity primary markets and trading report found that average daily equity turnover declined by €15 billion YoY, while also noting declines in block trading and double volume cap instrument suspensions.
Post-Trade
T+1 settlement: The seismic post-trade change impacting the trading desk
With the US confirming its shift to T+1 settlement in 2024, Wesley Bray looks at the impact this will have globally, whether or not the UK and EU should follow suit and how trading desks will be impacted by the move.
AFME calls on regulators to remove caps on block trading
The Association recommended that volume caps should be removed or, alternatively, suspended for a five-year period, after which ESMA should assess whether the cap is negatively impacting price formation.
Ongoing Mifir Review and regulatory complexity is harming liquidity in Europe, says AFME
Industry association warns regulators that the ongoing Mifir Review could risk holding back EU equity markets; is calling for a diverse range of trading mechanisms in Europe.