Hayley’s Comment: Misguided intervention
Senior reporter Hayley McDowell examines ESMA’s investigations into periodic auctions and asks what it could mean for the future of trading post-MiFID II.
Senior reporter Hayley McDowell examines ESMA’s investigations into periodic auctions and asks what it could mean for the future of trading post-MiFID II.
ESMA has submitted a final amendment to the tick size regime as concerns EU trading venues will be at a disadvantage post-Brexit linger.
The European Commission has said it will adopt temporary equivalence to ensure no disruption to central clearing in the case of no-deal Brexit.
Controversial auction systems face regulatory intervention in Europe if ESMA finds the mechanism does not operate in the spirit of MiFID II.
European regulator publishes report with technical standards with provisions for a no-deal Brexit.
Andrew Bailey states UK regulator is well-positioned to handle Brexit outcome, but cross-authority coordination is vital to minimise disruption to the industry.
Steven Maijoor says EMIR clearing obligation is working as data shows derivatives clearing rates are increasing significantly.
First data completeness indicators for double volume caps from ESMA reveal Goldman Sachs, Liquidnet and Bloomberg had highest amount of incomplete data submissions.
ESMA will publish its findings on periodic auctions in the coming months and will make a decision on whether to recommend changes to how they operate.
ESMA will publish performance indicators on data submitted by trading venues for the double volume caps and bond liquidity assessments under MiFID II.