Trade associations outline key priorities for MiFID II review
The MiFID II SI regime, best execution reporting, market data costs and the share trading obligation were among the areas the EFSA has urged authorities to prioritise.
Tag: ESMA
ESMA given new powers to increase cross-border supervision
The EU authority’s new powers include increased oversight of third-country equivalence assessments working alongside the European Commission.
ESMA study finds circuit breakers significantly widen bid-ask spreads
Immediately after circuit breakers are triggered, a study from ESMA finds that calmer trading conditions come at the cost of higher spreads.
The TRADE’s best of 2019: Regulation
John reviews the best of The TRADE News’ coverage of regulation over the past 12 months.
Buy side
Buy-side rejects “redundant” move to expand MAR to spot foreign exchange
Asset managers have poured cold water on plans to expand MAR to include spot FX due to the impact of the FX Global Code of Conduct.
Reports of suspicious transactions and orders surge under MAR
ESMA has called for greater supervision of STORS under MAR, as number of reports from firms surged 130% in 2017.
European derivatives market valued at €735 trillion
Interest rate derivatives accounted for 76% of the market in Europe during 2018, according to an annual report from ESMA.
Regulation
MiFID II failing to improve market data fee conflict with ESMA looking to equities consolidated tape solution
Review of MiFID II finds market data fee issues are not being addressed by the regulation as ESMA recommends real-time consolidated tape for equity instruments.
Europe
ESMA chair outlines staggered and focused approach to MiFID II review
ESMA chair Steven Maijoor acknowledged a recent position paper from the German regulator calling for reform to MiFID II in Europe during a keynote address.
ESMA rebukes FCA for poor handling of derivatives data under EMIR
The FCA has disputed a peer assessment that its analysis and integration of EMIR data in its supervisory approach is not meeting expectations.