ESMA to pick bond CTP by July 2025
The selection procedure for the bond consolidated tape provider (CTP) and the CTP for shares and exchange traded funds ETFs will launch in January 2025 and June 2025 respectively.
Tag: ESMA
ESMA publishes new public consultations as Mifir review continues
The consultation package includes five key focuses; the standards once approved are set to facilitate the consolidated tape provider (CTP) appointment for the EU as well as increase transparency across market factions.
ESMA unveils 20-point plan for ‘more effective and attractive capital markets’
The European market is facing significant challenges with financing needs which currently “far exceed” the capacity of the region’s fragmented markets, said Christine Lagarde, president of the European Central Bank, as she called for the market to embrace ESMA’s proposals.
ESMA publishes first final report under MiCA as it looks to level the playing field for crypto-asset service providers
Simultaneously, the watchdog has launched its third, and final, consultation package under the Markets in Crypto-Assets (MiCA) regulation.
Post-Trade
Exchange trading hours under the spotlight in ESMA’s T+1 consultation
Most concerns from market participants mirror those seen with the US shift to T+1, with additional worries surrounding exchange trading hours and post-trade windows, fragmentation of the region and increasing penalties.
Securities industry rallies hard against ESMA’s progressive settlement penalties suggestion
“No logical or economic basis for progressive penalties” says one association as others reply to European regulators to point out the damaging unintended consequences of such a system.
ESMA officially scraps ‘hardly read’ RTS 28 best execution reports
The decision follows an agreement reached by the European Union and Parliament concerning the Mifid/Mifir review in June last year.
ESMA seeks market input on crypto classification under MiCA
Market participants have until 29 April to provide comments; ESMA will publish its final report in Q4 2024.
European regulators launch pre-trade algorithmic trading supervisory action in the wake of Flash Crash
The regulators have paid special attention to the implementation of pre-trade controls in the EU since the 2022 flash crash having gathered evidence from a sample of investment firms prior to this launch.
EU and UK regulators reveal updated plans for bond tape frameworks
European Securities and Markets Authority (ESMA) does not expect to authorise a consolidated tape provider (CTP) for bonds until Q4 2025; Financial Conduct Authority (FCA) has effectively met its commitment to have a regime for a UK CT in place by 2024.