Ediphy has confirmed that it will continue with its claim for damages in the High Court in parallel; Etrading Software tells The TRADE that it welcomes the decision and endorses two complementary transparency initiatives.
The move marks the latest update in the legal proceedings, after the EU bond consolidated tape provider (CTP), Ediphy, appealed the decision to award the mandate to Etrading Software in September.
The move will see the firm take on a £4.8 million contract to deliver the tape for a period of five years.
The decision comes off the back of recommendations from the ‘investment research review’; rules affect full-scope UK alternative investment fund managers (AIFMs), among others.
The past week saw appointments and role changes across trading venues, the buy-side, and regulators.
Following the taskforce report published on 6 February, the FCA is calling on the industry to engage and start planning as soon as possible.
Infinox Capital has been fined £99,000 by the watchdog for failing to submit 46,000 transaction reports between 1 October 2022 and 31 March 2023.
Following the UK’s Financial Conduct Authority (FCA) confirming final rules, the likelihood is for less of a regulatory clash between the US, the EU and the UK going forward, according to Substantive Research.
There are three months to go for the remaining synthetic US dollar Libor settings.
The UK watchdog’s 25 committee members will serve for two years; individuals hail from firms including: Goldman Sachs, Vanguard AM, BlackRock, Morgan Stanley, LGIM, and JP Morgan, among others.