29 March 2015

65591

Christian VoigtFidessa - London

Left in the dark

26 March 2015  |  884 views  |  0  |  Recommends 0

Currently, it doesn’t really matter whether dark trades are executed under the reference price waiver (RP), large in scale waiver (LIS) or a negotiated trade waiver (NT). However, under MiFID II, the waiver flavour will make a significant difference. Whilst RP and parts of NT will become subject to the clunky double volume cap, LIS will not, so we...

TagsTrade executionRisk & regulation
Christian VoigtFidessa - London

Holding a steady course

12 March 2015  |  2324 views  |  0  |  Recommends 0

Having spent the last three months buried under a deluge of MiFID II consultation pages, the real world looked quite different when I came up for air recently. Since ESMA published the consultation back in December, Greece has elected a new prime minister, Star Trek has sadly lost the original Mr Spock, Madonna fell off a stage and a whole new sea...

TagsTrade executionRisk & regulation
More blog posts
Christian VoigtFidessa - London

On a quest for answers in Paris

18 February 2015  |  3336 views  |  0  |  Recommends 0

Travelling to Paris today for tomorrow’s open hearing on MiFID II, the two issues I’ll be mulling over on the Eurostar will be record keeping for trading venues and transaction reporting. Both could ...

TagsTrade executionRisk & regulation
Christian VoigtFidessa - London

One step forward, one step back

06 February 2015  |  3542 views  |  0  |  Recommends 0

Market making, at its core, is a simple exchange where the market maker gives immediate liquidity and takes the bid/ask spread in return. This is set to become much more complicated in MiFID II as ESM...

TagsTrade executionRisk & regulation
Christian VoigtFidessa - London

Return of the concentration rule

22 January 2015  |  4071 views  |  0  |  Recommends 0

A long time ago in a galaxy far, far away… It is a period of calm, with primary exchanges enjoying relatively little competition thanks to concentration rules enforced in many EU countries requiring a...

TagsTrade executionRisk & regulation
Christian VoigtFidessa - London

No time for sentimentality

06 January 2015  |  3016 views  |  0  |  Recommends 0

Whether it’s Windows 8, OS X 10.10 or Android 5, modern life beats to the drum of big software releases. Since any new EU regulation includes an automatic review clause, financial markets legislation ...

TagsTrade executionRisk & regulation
Christian VoigtFidessa - London

Slave to a label?

18 December 2014  |  4442 views  |  0  |  Recommends 0

ESMA has just published a report on high-frequency trading (HFT) activity in EU equity markets. It’s good to see the regulator producing an empirical study on such a hotly-debated and emotive topic. ...

TagsTrade executionRisk & regulation
Christian VoigtFidessa - London

Systematic Internaliser on a wire

03 December 2014  |  2133 views  |  0  |  Recommends 0

MiFID II imposes simple categories on a complex trading landscape, such as on- and off-exchange, or multi-lateral vs. bi-lateral. Obviously having some rules helps unravel complexity, but too many kil...

TagsTrade executionRisk & regulation
Christian VoigtFidessa - London

Synchronising regulation

25 November 2014  |  1744 views  |  0  |  Recommends 0

US securities industry regulator FINRA recently implemented new time-stamping rules, a topic also on ESMA’s MiFID II task list. FINRA requires US firms to express time in milliseconds when reporting ...

TagsTrade executionRisk & regulation
Christian VoigtFidessa - London

Refocusing on auctions

07 November 2014  |  1713 views  |  0  |  Recommends 0

BATS Chi-X Europe recently announced plans to introduce opening and closing auctions for ETFs, while the LSE plans to introduce an intraday auction for all SETS equities. Although these moves differ ...

TagsTrade executionRisk & regulation
Previous 1 | 2 | 3 | 4 | 5 Next
24,834
Members
12,352
Comments
8,649
Posts
 
1,177
Active bloggers

Top bloggers: 30 days

Most viewed Engaging
Robert Siciliano

Security analyst, published author, tele...

Charmaine Oak

Shift Thought is a UK-based consultancy...

Jes Breslaw

http://www.delphix.com

Abhishek Chatterjee

Practice Director- Digital Services, EME...

Dan Glessner

Dan leads marketing for Quisk, Inc., a S...

Who is commenting on these posts

Bjorn Soland
Charmaine Oak
Abhishek Chatterjee
Ketharaman Swaminathan
ANJUL SHARMA
Laurence Leyden
KEVIN SMITH
Samarth Bhardwaj
Aditya Gupta
Jamuna Ravi
Tony Wenzel
Jozsef Czimer