AI and Best Execution: The Investment Banker’s Dream Team

By Chris Skinner Originally published at Chris Skinner’s blog, The Finanser I don’t often blog about investment banking as it bores my readers who are cool and trendy retail bankers and geeks, mainly, but keep coming back to this...

Industry Mulls Challenging ISINs Through Global Identifier

By Luke Clancy April 12, 2018, Risk The board of the International Swaps and Derivatives Association could vote later this month on whether to set itself up as the issuer for a new form of global derivatives identifier. If...

E.U. Exchange Traded Derivatives in Focus

By Shanny Basar April 11, 2018, Markets Media The European Securities and Markets Authority said the market for exchange-traded derivatives has an average daily turnover of €1.3 ($1.6) trillion, based on data which will allow the regulator to...

MiFID II Impact on Bond Trading Still Unclear – GPP

By Pablo Mayo Cerqueiro April 13, 2018, Global Investor Group The impact of the vast European MiFID II reforms remains unclear three months after their introduction because firms are still working to implement the new rules, according to London-based...

ESMA Looks for Clarity on Ancillary Exemption

By Julie Aelbrecht April 11, 2018, Global Investor Group The European Securities and Markets Authority has written to the European Commission to ask for clarification on the ancillary activity exemption under MiFID II. In a letter released late on...

European Banks Step Up Battle Against Major New Reforms

By Huw Jones April 12, 2018, Reuters Tougher rules introduced after the financial crisis have made it harder for banks to support the economy, a European banking lobby said on Thursday in a study they hope will stem the...

ISINs for Swaps Need ‘Complete Rethink,’ Say Platforms

By Luke Clancy April 9, 2018, Risk Trading platforms are warning that new European rules will struggle to fulfil their objective of improving financial market transparency without a total overhaul of the use of International Securities Identification Numbers (ISINs)...

Platforms Under Fire Over MiFID II Data Rules

By Damian Fantato April 10, 2018, FTAdviser Some investment platforms are not helping asset managers and advisers meet their MiFID II obligations by passing data back and forth, it has emerged. As part of the target market rules –...

ESMA Urged to Fight ‘Blatant Attempt’ to Dodge MiFID II Share Rules

By Samuel Agini April 11, 2018, Financial News One of the authors of Europe’s vast new trading rulebook has called on regulators to investigate “blatant” attempts to undermine the goal of moving more share trades onto traditional stock exchanges....

MiFID II Could Boost E-Trading in Corporates

By John D’Antona April 9, 2018, Markets Media Many traders and pundits saw implementation of MiFID II as a watershed moment in the equities markets. But what about the growing fixed income sector? Hmmm. full article

Instant Recognition [of LEIs]

By Nicholas Pratt March 31, 2018, Funds Europe In the aftermath of the financial crisis, an initiative emerged to create a unique identity for each counterparty involved in a securities transaction. It means that all firms should be able...

Moody’s Warns FCA Rule Changes Will Be Credit Negative for the £8 Trillion Asset Management Industry

By Lucy White April 9, 2018, City A.M. Ratings agency Moody’s has warned that new asset management rules announced by the Financial Conduct Authority (FCA) last week will be credit negative for the £8 trillion industry. Moody’s analyst Tiziano...

FCA Targets MiFID II Compliance in Latest Business Plan

By Hayley McDowell April 9, 2018, The Trade The Financial Conduct Authority (FCA) has laid out plans for increased monitoring and assessment of compliance with MiFID II rules around conflicts of interest, according to its 2018/2019 business plan. The...

MiFID II Reporting – Is AIFMD the Path to Freedom?

By Terence Chabe, Colt Originally published on the TabbFORUM After unbundling, the trade and transaction reporting requirements of MiFID II have arguably produced the most debate in the industry. They are seen to be onerous by many, confusing...

FCA to Focus Supervision on HFTs, Non-Standard Derivs

By Louisa Chender April 9, 2018, Global Investor Group The Financial Conduct Authority (FCA) said the introduction of MiFID II has provided the impetus to focus its supervision on high frequency trading (HFT) and non-standard derivatives products this year....

FCA Prepares Crackdown on Inaccessible MiFID Data

By Samuel Wilkes April 6, 2018, Risk The U.K. Financial Conduct Authority is preparing to take action against firms publishing trade data that does not adhere strictly to new European Union financial market rules, Risk.net has learnt from three...

U.K. Banks and Brokers Face MiFID II Reckoning

By Hannah Murphy and Laura Noonan April 8, 2018, Financial Times U.K. banks and brokers are readying themselves for a second round of tense negotiations with fund managers over the cost of investment research, as a grace period following...

MiFID II’s On-Venue Shift Is Not All It Seems

By Lizzie Meager April 5, 2018, Practice Insights from IFLR MiFID II has contributed to a rise in fixed income products and derivatives traded on a venue – but it’s not had the transformative overnight effect many predicted. The...

Traders Shrug Off MiFID II Impact on Transparency and Liquidity

By Joel Clark April 5, 2018, Euromoney Three months on from the implementation of the recast Markets in Financial Instruments Directive (MiFID II), the new trading and reporting rules have had little positive impact on market transparency, but have...

Industry Welcomes FCA Asset Management Market Study

By Shanny Basar April 5, 2018, Markets Media The industry has welcomed the Financial Conduct Authority’s latest steps in implementing the Asset Management Market Study as the regulator declined to set rules on the disclosure of ‘a single charge’...

How Equity Sales Became the Worst Job in Banking

By Julia Jones April 5, 2018, efinancialcareers If you’re thinking of working in equity sales, I have one word to say: don’t. If you’re working in equity sales already, I have two words to say: get out. – I...

FCA Urges Cryptocurrency Firms to Get Authorized

By Louisa Chender April 6, 2018, Global Investor Group The Financial Conduct Authority (FCA) has said “it is likely that” firms engaging in certain activities involving cryptocurrency derivatives will have to be authorised. In a statement published on Friday,...

Buy Side Demands More TCA

By John D’Antona April 3, 2018, Markets Media We want our trade-cost analysis (TCA) and now! That’s the chant of many buy-siders and the sell-side and vendor community is responding, tailoring their TCA offerings to do more to empower...

For Systematic Internalizers, Volumes Only Tell Half the Story

By Hamad Ali March 29, 2018, Waters Technology Earlier this month, hundreds of European equities were suspended from trading in the dark, after exceeding caps set by regulators. Examining exactly what has happened after this — and whether market...

Free Research Platforms Shouldn’t Require Registration – Expert

April 3, 2018, Global Investor Group Some research providers have been offering fixed income research for free but behind a registration wall, inciting concerns that they could use customers’ data to offer them tailored financial products, an expert told...

Asset Managers Set for MiFID II Research Price ‘Shock’

By Mike Sheen April 3, 2018, InvestmentWeek Chris Turnbull, co-founder of independent research provider Electronic Research Interchange (ERIC), has warned asset managers will face a “shock” at the end of Q1, when they “discover they owe more for research...

Post-Trade Undergoes Generational Change

By Shanny Basar March 29, 2018, Markets Media Mack Gill, chief operating officer of Torstone Technology, which provides post-trade securities and derivatives processing, said financial firms are realising their legacy systems are not agile enough to support interoperability across...

ESMA to Look into Market Data Fee Hikes

By Louisa Chender March 28, 2018, Global Investor Group The European Securities and Markets Authority (ESMA) has said it will take a closer look at market data pricing after market participants raised concerns over fee hikes prior to the...

FCA Will Clamp Down on MiFID II Reporting – Expert

By Louisa Chender March 28, 2018, Global Investor Group The U.K.’s Financial Conduct Authority (FCA) only issued a dozen fines for reporting under MiFID I but more are expected under the second version of the regulation, according to an...

Trading Software Threatens to Become Next MiFID II Cost Battle

By Samuel Agini March 28, 2018, Financial News After driving a sea change in how brokers charge for their investment research, the next target for regulators seeking to stamp out potential inducements could be the sophisticated technology that powers...