The Committee of European Securities Regulators has proposed to the European Commission the creation of a regulatory regime for broker crossing networks and a mandated consolidated tape of post-trade data.
Global exchange group Nasdaq OMX has agreed to purchase market surveillance firm SMARTS Group and plans to use the acquisition to keep in tune with recent regulatory initiatives to improve monitoring of trading activity.
London Stock Exchange Group, which owns the London Stock Exchange (LSE) and Borsa Italiana, has launched a new post-trade market data service, aimed at buy-side and retail users.
UK regulator, the Financial Services Authority (FSA), has reinforced its transaction reporting guidelines, following a raft of recent fines issued to some of Europe's largest banks.
Buy-side firms say clarifications are needed to a proposal by the Securities and Exchange Commission (SEC) to increase monitoring of firms deemed to large traders.
Off-exchange trading has overtaken displayed market trading in Europe over the last two months, reigniting the debate on the effectiveness and reliability of the price formation process. But many market participants remain sceptical about the quality of the underlying data, emphasising the need for reform of MiFID’s trade reporting rules.
One of the unintended – albeit anticipated – consequences of MiFID has been the impact of its pre- and post-trade transparency regimes on the price formation process.
UnaVista, the London Stock Exchange’s hosted matching, reconciliation and data integration service, has been granted approved reporting mechanism (ARM) status by UK regulator the Financial Services Authority.