UK targets SIs, dark trading and consolidated tape in post-Brexit regulatory roadmap
Several documents published by the UK government outlined major plans, including details on the sweeping changes to MiFID II requirements.
Tag: MiFID II
Trading in dark pools and periodic auctions lowers execution costs, FCA paper concludes
Analysis from the UK’s regulator has said that dark trading, which the EU has restricted under MiFID II rules, can reduce costs for investors.
ETFs have highest percentage of turnover traded in the dark, ESMA report finds
An analysis from the EU regulator revealed that the LIS waiver was most commonly used, with ETFs accounting for around 64% of the turnover executed under the waiver.
ESMA prepares for no-deal Brexit with plans to delay MiFID II calculations
The period of suspension will include essential MiFID II calculations including DVCs, SI regime, and bond liquidity determination.
Study warns European Commission to learn from US when developing EU tape
A study from Market Structure Partners carried out for the European Commission has recommended the EU moves forward with plans to form a consolidated tape.
SmartStream adds derivatives to SI registry ahead of MiFID II deadline
A derivatives component has been added to the SmartStream SI registry before the MiFID II SI regime for derivatives is enforced later this month.
ESMA finds no material evidence of harmful impact of MiFID II unbundling
The European regulatory watchdog has seemingly countered claims that unbundling has harmed research coverage and quality.
Fixed Income
Dutch regulator calls for overhaul of MiFID II fixed income transparency rules
The AFM stated in a recent report the overall sentiment is that MiFID II has not yet delivered its goals in fixed income markets, and should be considered a work in progress.
Rosenblatt survey highlights buy-side disconnect with changes to MiFID II
ESMA has made several recommendations in its report on the MiFID II review, but a poll from Rosenblatt Securities suggests the buy-side is not quite on the same page as the regulator.
European Commission confirms roll back of MiFID II rules in recovery package
MiFID II unbundling and best execution reporting requirements will be scaled back under new recovery package from the European Commission.