ESMA recognises Malaysia, Taiwan, Colombia and Israel CCPs
The move takes total recognised Third Country (TC) CCPs to 39; comes as watchdog withdraws recognition of six Indian CCPs.
Tag: ESMA
Exclusive
FCA confirms tender process for UK consolidated tape
The UK watchdog today confirmed its decision to go with a single CT model chosen by tender process; while the European Parliament has finally come down in favour of the Mifir/Mifid II amendments suggested by MEP Danuta Hubner last year. Could a consolidated tape finally be on the cards?
Equities settlement fails steadily decline in H2 2022, ESMA data shows
Decline in equities market were somewhat offset by increases in fails in both the corporate and government bond markets.
ESMA warns of high risks amid fragile markets, despite a “remarkably stable” H2
The regulator’s first Trends, Risks and Vulnerabilities (TRV) report of 2023 warns that high levels of uncertainty and fragile market liquidity are limiting the resilience of the financial system against further external shocks.
Europe
ESMA confirms changing scope of multilateral trading definition including request-for-quote and execution management systems
The conclusion comes as part of a consultation on the scope of a multilateral trading venue launched by the EU watchdog in January last year to level the playing field.
Traders are turning to AI to manage market impact on large orders, finds ESMA paper
EU watchdog has released an article exploring the use of artificial intelligence and machine learning in the markets, noting traders are utilising technology to minimise impact.
‘City is defining the rules of Continental Europe more than ever post-Brexit’, says Euronext cash and derivatives head
European regulators have made several U-turns in the last few months, in particular around their stance on systematic internalisers and dark trading, that mimic UK proposals.
ESMA’s latest shot at ‘pre-hedging’ must now bring a clear set of rules
John Keogh, managing director at Susquehanna International Securities (SIG), makes the case for banning the controversial practice, in the wake of ESMA’s latest request for industry input.
ESMA will not publish SI and liquidity calculations for bonds this November
Due to data quality issues, ESMA intends to publish calculations in February next year, covering data from 1 October to 31 December 2022.
To PFOF or not to PFOF? Europe vs the US
US and European regulators look set to be taking starkly different stances on the contentious practice of paying for order flow.