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.
Tag: ESMA
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.
Fireside Friday… with Susquehanna’s John Keogh
The TRADE sits down with managing director of Susquehanna International Securities, John Keogh, to discuss the potential implications of the recent MiFIR draft report - warning that "ambiguity is the enemy of transparency".
European Supervisory Authorities recommend actions to combat challenging market conditions
In a joint risk report, the European Supervisory Authorities provide five policy actions for competent authorities, financial institutions and market participants to deal with ‘deteriorating’ economic outlook.
European investment grade bond prices fell 15% in wake of Russian invasion and inflation, finds ESMA
ESMA risk report found prices dropped 15% peak-to-trough between August last year and May 2022, nearly double that seen during the pandemic.
Regulation
Buy-side firms could face increased scrutiny of their trading practices under new supervisory guidelines
New guidelines published by ESMA and the European Banking Authority will allow for an assessment used to take supervisory measures to address risks and concerns among investment firms.
ESMA updates guidance on algorithmic trading
The regulator has updated its Q&As on Mifid II and Mifir market structure topics to clarify guidance on automated trading functionalities and compliance when using third party systems.
Regulation
Cat among the pigeons? New report outlines the latest Mifid II amendments
A new draft report on Mifid II amendments confirms plans to ban payment for order flow (PFOF) in Europe, as well as removing dark pool caps and supporting a pre-trade consolidated tape, among others. The TRADE explores these legislative updates in detail to provide a comprehensive summary of the proposed changes.
ESMA opens consultation reviewing clearing and derivatives trading obligations
New consultation builds on the progress made with the benchmark transition in the interest rate derivative market.
ESMA revisits third country CCP recognition applications
Applications had been suspended until 28 June; Chile, China, Indonesia, Israel and Malaysia will receive recognition status pending relevant conditions.