London Firms Losing Faith in Quick-Fix Access to E.U. After Brexit

By Huw Jones August 26, 2016, Reuters Big financial groups in London are losing faith in a quick fix to get access to the European Union after Britain leaves the bloc and are instead drawing up contingency plans to...

Uneven Corporate Liquidity Split Creates Alternative Solutions

By Kimberly Long August 25, 2016, Euromoney The widening divide between the haves and have-nots of liquidity has created a burgeoning market for products and services to be grown or developed by banks. This split in liquidity levels is...

Increasing Compliance Requirements Drive Tech Uptake

By Paul Golden August 17, 2016, Global Investor Asset managers have much to gain from applying business intelligence processes – and specifically more sophisticated analysis of data – to their compliance regime. To effectively comply with new regulatory...

ESMA to Issue Level Three Texts for MiFID II

By Julie Aelbrect August 16, 2016, FOW The European Securities and Markets Authority (ESMA) has said that it has started work on some level III texts under sweeping regulatory directive MiFID II. “ESMA has initiated some work on level...

No Country for Small Asset Managers

By Shanny Basar August 15, 2016, Markets Media Regulatory changes will lead to the concentration of assets in larger European fund managers according to consultancy Opimas who said they look to the east of the region for growth. In...

FCA Reveals Users’ MiFID II Cost Concerns, Outlines Proposed Reporting Platform Fees

By Joanne Faulkner August 12, 2016, Waters Technology FCA meeting minutes show users expressing their concerns about the cost of data, post-MiFID II, while the FCA outlines the costs of its own MiFID II reporting solution. Market participants remain...

Trade Bodies Urge Commission to Review MiFID II Exchange Data Rules

By Hayley McDowell August 10, 2016, The Trade Several trade associations have called for the European Commission to review rules on market data pricing for trading venues under MiFID II. A MiFID II implementation roundtable – hosted by the...

Buy Side Most Concerned Brexit Will See Regulatory Split

By Hayley McDowell August 11, 2016, The Trade A split in regulation following the E.U. referendum result in the U.K. has been raised as the biggest concern amongst the buy-side. A poll of 322 market participants from around the...

Trading Firms Grab Their Partners for the MiFID II Shuffle

By Tim Cave and Samuel Agini August 10, 2016, Financial News Working together is not something financial firms have always found easy to do. But trading venues, brokers and technology providers are increasingly linking up to help clients...

New Regs Weaken Research-Trading Link

By John D’Antona August 9, 2016, Markets Media New regulations, such as MiFID II, are dissolving the relationship between research and trading. The old adage on Wall Street that research drives the trading bus is being turned on its...

European Market Data Costs Questioned

By Shanny Basar August 8, 2016, Markets Media Market participants questioned the European Commission’s decision not to require exchanges to publish the costs of producing market data at a roundtable hosted by the U.K. Financial Conduct Authority. The...

Sec Finance Industry Slams Six-Week SFTR Response Window

August 5, 2016, Global Investor A six-week window to respond to 145 questions on the E.U.’s SFTR regulation has been criticized by industry stakeholders. ESMA, the main regulatory body behind upcoming rules forcing firms to report details of their...

FCA Replaces MiFID Head with ESMA Expert

By Alice Atwood August 8, 2016, FOW The Financial Conduct Authority has hired an expert in financial innovation from the European Securities and Markets Authority to replace the head of its MiFID II and MAR implementation program, after...

Data Muddle Fears Follow EC Adoption of Key MiFID RTS

By Luke Clancy August 4, 2016, Risk Following the European Commission’s adoption on July 14 of Regulatory Technical Standard (RTS) 23 of the E.U.’s Markets in Financial Instruments Directive (MiFID II), banks and financial market infrastructures remain concerned...

MAR Triggers Sophisticated Technology

By Aggelos Andreou August 2, 2016, Waters Technology It is time to tell the truth. Most journalists have bookmarked the European Commission’s (EC) website and check it on a regular basis. We have also become pretty familiar with...

Europe Eyes September for Final MiFID Release

By Alice Atwood August 2, 2016, FOW The European Commission expects to adopt the final two outstanding regulatory technical standards under MiFID by the end of September, drawing a line under a key period of flux for...

How to Manage Data for Regulatory Success

By Marion Leslie, Thomson Reuters Originally published on the TabbFORUM Navigating the sea of regulatory change is a complex task. Strategic data management can simplify the process; so why are many buy-side institutions reluctant? The zero-tolerance approach of regulators...

FCA Urges U.K. Firms to Press on with MiFID II Work

By Samuel Agini July 29, 2016, Financial News The Financial Conduct Authority has issued a stark reminder that U.K. firms must press ahead with work to implement the E.U.’s sweeping MiFID II reforms, despite hopes in some quarters...

The MiFID II Clock is Ticking for U.S. Asset Managers

By Rob Daly July 29, 2016, Markets Media When preparing for MiFID II’s roll out in January 2018, some U.S. asset managers may have an easier time digesting the new mandates if they used their preparation for the...

MiFID II Reporting Standards Leave Legal Experts Flat

By Alice Atwood July 29, 2016, FOW Legal experts have offered a lackluster response to the controversial MiFID II rules that mandates personal information on traders after they were released on Thursday, arguing the latest version does not answer...

How Will Brexit Impact MiFID II?

By Mike Powell, Thomson Reuters Originally published on the TabbFORUM As financial markets come to terms with the seismic outcome of the U.K. referendum, what will Brexit mean for the Markets in Financial Instruments Directive? MiFID II is the...

MiFID Could Challenge U.K.’s Post-Brexit Access to CCPs

By Julie Aelbrecht July 26, 2016, FOW The adoption of Europe’s MiFID II or the U.K.’s establishment of an equivalent regime to Europe’s may not guarantee U.K. firms access to European central counterparties, a legal expert has warned. Non-­European...

Reporting Complexity Forcing Buy Side to Outsource Data Services

By Hayley McDowell July 26, 2016, The Trade Reporting requirements under regulations like MiFID II are driving the buy side to outsource data functions to manage the complexity of complying with the rules. The explosion of data handled by...

Sell Side to Up Fees Amid Rising MiFID II Compliance Costs

By Hayley McDowell July 21, 2016, The Trade Buy side traders could face higher fees from sell-side institutions as the costs of complying with European regulation MiFID II puts pressures on profit margins. MiFID II’s trade and transaction reporting...

Dark Pools Must Tame Conflicts of Interest, U.K. Review Says

By John Dextrixhe and Silla Brush July 21, 2016, Bloomberg The Financial Conduct Authority is pushing dark pool operators to better handle any conflicts of interest, a sign of mounting scrutiny of the electronic trading platforms after brokers...

Experts Give Mixed Reaction to Latest MiFID II Rules

By Julie Aelbrecht July 20, 2016, FOW Market experts have offered mixed reactions to the latest set of MiFID II regulatory technical standards (RTS) released on Friday, arguing more clarity is needed on the controversial European reforms. Regulation experts...

No Summer Break for MiFID II

By Anne Plested, Fidessa Originally published on the TabbFORUM Last week alone seven RTS documents were adopted by the European Commission, including the long-debated RTS 2 on non-equity transparency. Only a few documents now remain outstanding. You may have...

Key MiFID RTS 6 on Algos Due “This Week”

By Alice Atwood July 18, 2016, FOW One of the key outstanding regulatory technical standards under sweeping European MiFID II, governing algorithmic trading, is set for release this week, drawing a line under concerns over definitions under the new...

European Commission Adopts Latest Eight RTS

By Julie Aelbrecht July 15, 2016, FOW The European Commission has adopted eight more regulatory technical standards under sweeping regulatory package MiFID II. The Commission has adopted eight of the regulation’s technical standards (RTS). RTS 1 focuses on equity...

GLEIF Chief Urges Firms to Register for Legal Identifier

By Julie Aelbrecht July 15, 2016, FOW The chief executive officer of The Global Legal Entity Identifier Foundation (GLEIF) has stressed urgency for firms to register for a legal entity identifier ahead of the implementation of MiFID II. “Currently...