Trading Still Shrouded in Post-Brexit Uncertainty

By Thomas Helm September 16, 2021, Practice Insight From IFLR While market participants agree that the post-Brexit trading landscape has reached a period of relative stability, opinions differ on how long this will continue. Some believe that the major...

Simon Collins: Are We Remunerating the Right Way?

By Simon Collins September 13, 2021, Money Marketing As many firms are preparing for some form of “return to office,” there is some concern as to whether productivity of individuals will be impacted given time needed for commuting again....

How to Establish Your Client’s Sustainability Preferences

By Louis Williams September 9, 2021, FTAdviser Sustainable investing is on the rise as more and more people pursue investments that manage sustainability risks, align with their personal values and have a positive impact in the world. Investors are increasingly...

Why It’s Time to Make ESG Part of KYC

By Leo Almazora September 9, 2021, Wealth Professional The Responsible Investment Association of Canada (RIA) has called on both of the industry’s self-regulatory organizations to help promote the adoption of sustainable investing by making ESG part of client discussions. In...

European Equity Research Has Changed — ‘and That’s a Good Thing’

By Alexandra DeLuca September 8, 2021, Institutional Investor More than a year and half since the COVID-19 pandemic plunged Europe into lockdown and ushered the equity research industry into a virtual environment, there are some changes on the...

Post-Brexit Trading and Liquidity Split Reaches Stable State

By Thomas Helm September 8, 2021, Practice Insight From IFLR Meanwhile, Jennifer Keser, head of market structure and regulation for Europe and Asia at Tradeweb, stressed the European Central Bank’s (ECB) eventual response to banks moving their trading...

Tech Companies’ Unregulated Financial Data Business Creating Substantial Market Distortions, Industry Warns

By Anna Brunetti September 7, 2021, bobsguide “The majority of financial market data is consumed through unregulated market data providers,” said pan-European exchange Euronext. New types of unregulated data vendors and connectivity providers that “are not within the...

Dark Trading Restrictions Set to Remain on the Regulators’ Watch Lists

By Anne Plested September 7, 2021, Finextra The UK Treasury’s Wholesale Markets Review consultation paper devotes some attention to access to liquidity. In Europe, the review of MiFID II is progressing and like rules are also in scope. Tracking upcoming regulatory...

What Next After the Recent Collapse of a Family Office Fund?

September 1, 2021, The Trade Okay, moving on to next…. Enhance collateral reporting: This discussion now leads us to enhancement in collateral reporting. The current collateral reporting under various regulations across asset classes does not provide a holistic view...

Vicky Pearce: Are Exempt-CAD Firms Ready for January’s Changes to MiFID?

By Vicky Pearce August 31, 2021, Money Marketing Changes are afoot for investment firms, as the Financial Conduct Authority (FCA) strives to strengthen the integrity of financial markets and provide consumers with greater protection and consistency. In January, new rules are...

How Austria Became the First European Country to Host an STO

By Michael Juul Rugaard August 18, 2021, The Tokenizer And from the beginning, they believed that the MiFID II was sufficient as a regulatory framework for this, right?  OV: Yes. So MiFID II, in some sense, but at the...

Blast From the Past: MiFID II and the Return of the ‘Star’ Analysts

By Hannah Murphy February 26, 2018, Financial Times Sweeping changes to the way investors pay for research have brought predictions that UK analyst numbers will halve, while many European asset managers have already cut their research budgets. But there are...

Blast From the Past: In the Dark: Pools Warn Late MiFID Rules Still Won’t Add Up

By Philip Alexander February 19, 2018, Risk As the postponed start of Europe’s new dark pool trading regime hurtles closer, pool operators are getting edgy. They never liked the rules, which can suspend dark trading of any stock at a...

Blast From the Past: MiFID II Cost Impact Might Be a Boost to ETF Providers

By Sophie Baker February 19, 2018, Pensions&Investments One of the most burdensome parts of new trading and transparency rules in Europe will potentially benefit exchange traded fund providers. Sources said the increased transparency required by the Markets in Financial Instruments...

Blast From the Past: Europe in Line for ETF Boom, Thanks to MiFID II

By Sophie Baker February 19, 2018, Pensions&Investments The dark clouds hanging over the money management industry from new trading and transparency rules in Europe could prove to have a silver lining for exchange-traded funds providers. The Markets in Financial Instruments...

Blast From the Past: MiFID Drives ETF Trading on to Platforms

By Samuel Wilkes February 16, 2018, Risk New European market rules have triggered a surge in trading volumes of exchange traded funds on platforms, but ETF market-makers believe this sudden dominance will be short-lived. Two dealers who spoke to...

ESMA Publishes MiFID/R Market Data Guidelines Covering Numerous Stakeholders

August 19, 2021, Finadium The European Securities and Markets Authority (ESMA) published market data guidelines that apply to national competent authorities (NCAs), trading venues, approved publication arrangements (APAs), consolidated tape providers (CTPs) and systematic internalizers (SIs). The guidelines aim...

MiFID II Review Stores Up More Compliance Costs

By Anne Plested August 20, 2021, Finextra As part of the ongoing wider review of MiFID II, ESMA is consulting on the rules around transparency. The consultation focuses on technical issues relating to post-trade data, among other things. In its...

In European Equities Size Matters

By Annabel Smith August 9, 2021, The Trade The European equities market is set to get even more competitive now as smaller sell-side institutions continue to exit the market and the largest brokers absorb market share.  For several years shrinking commissions and...

Blast From the Past: Trading Venues Downplay Rift Over MiFID II Share Trading Reforms

By Philip Stafford January 10, 2018, Financial Times European equity market executives on Wednesday sought to downplay a rift with the regulator responsible for implementing trading restrictions under MiFID II financial reforms. At the last minute, the European Securities...

Blast From the Past: Quality of Dark Trading Improved Before MiFID II

By Louisa Chender January 8, 2018, Global Investor Group Market participants noted an improvement in the quality of dark executions as the dark trading landscape changed in the run up to MiFID II’s effective date, according to Rebecca Healey, head...

UK Market Not Ready for Investment Firms Prudential Regime

By Alice Tchernookova August 12, 2021, Practice Insight From IFLR A recent survey has found that large swathes of the investment management industry are unprepared for the UK’s upcoming Investment Firms Prudential Regime (IFPR), although the new rules will begin to apply in January next...

Trading: The Cost of Market Data

By Heather McKenzie August 16, 2021, Best Execution Whenever the cost of market data is discussed, trading firms could be forgiven for thinking it is Groundhog Day. Complaints that market data is too costly have been raised for many...

UK Regulation’s Direction of Travel Gives Reason to Be Cheerful

By Ben Goss July 20, 2021, FTAdviser The UK has never in my lifetime felt as much like an island as it has during the pandemic. A holiday abroad – once as easy as jumping on a £39 flight...

Owning Platform Is ‘Advisory Profession Understanding the Power It Holds’

By Sonia Rach July 22, 2021, FTAdvsier The growing trend in the advice profession of firms operating their own platforms as opposed to using white-label or third party versions, is down to advisers reclaiming control and making use of some emerging...

EU’s Months-Long Delay Picking Watchdog Head Draws Criticism

By Silla Brush July 14, 2021, Bloomberg Tensions are rising within the European Union over the failure to name a replacement to lead the bloc’s top financial-markets regulator.Paris-based European Securities and Markets Authority has been without a chair since...

ICMA Wants to Unite Bonds, Derivatives in Common Code

By Jon Hay August 5, 2021, GlobalCapital A new level of harmonization and simplicity in financial markets communication is on the horizon, according to supporters of the Common Domain Model — a coding framework that will allow bonds,...

MiFID II/MiFIR: Firms Still Struggling With Transaction Reporting

By Thomas Helm August 6, 2021, Practice Insight From IFLR It has been more than three years since MiFID II/MiFIR entered into force but the errors and omissions rate is still high. According to sources, this is due to...

AIFMD: Keep Quiet and Carry On

By Fiona Nicolson July 28, 2021, Funds Europe The Alternative Investment Fund Managers Directive (AIFMD), which emerged in the wake of the global financial crisis, is currently under review. AIFMD was introduced to tighten regulation of private equity,...

FCA Sets Out Disclosure Rules for Investment Firms

By Najiyya Budaly August 6, 2021, Law360 The finance watchdog set out proposed disclosure rules on Friday that investment firms authorized in the U.K. will have to follow under a future prudential regime for the sector, which is aimed...