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Retired Member

What will the leap second mean for capital markets?

Leap seconds are added when the drift between atomic time and that based on the earth’s rotation approaches one second. While atomic time is fixed and precisely measured and monitored, the rotation of...

30 Jun 2015
Retired Member

Time to sort RFQs?

I was reading my colleague’s blog today on RFQs and it looks like this could be another aspect to the slow motion car wreck otherwise known as MiFID II. The problem this time is that the regulators h...

22 Jun 2015
Retired Member

Fitting RFQs under MiFID II

With the extension of the MiFID II scope into non-equity asset classes and the tightening of transparency rules, firms relying on requests for quotes (RFQs) have to figure out how this fits under the ...

22 Jun 2015
Retired Member

Momentum of a pipe dream: the operational challenges of Asian fund passports

With rules and operational arrangements currently being developed in earnest, the dawn of the Asian funds passport seems fast upon us. Headlines in the FT have progressed from the rather negative &quo...

17 Jun 2015
Retired Member

The choice is: Collageral, managed or collateral, damaged

With an estimated $1.2 trillion of additional collateral needed to meet new margin requirements, urgent action is now unavoidable to tackle the 'Great Collateral Squeeze' head-on. What we know is that...

16 Jun 2015
Retired Member

The Tomorrow People

Josh was in high spirits, trading had been good that day. He had downloaded an algo app overnight that allowed him to arb Google dollars against Apple iCoins. It was no longer any use, of course, as b...

11 Jun 2015
Retired Member

Too big to fail or too big to succeed?

Interesting to see that Martin Wheatley, head of the FCA, is siding with the largest asset managers in their push back against the Financial Stability Board. The basic idea is that because of their s...

02 Jun 2015
Anne Plested

MiFID II data disaggregation - be careful what you wish for!

Under MiFID II pre- and post-trade data is required to be made available in an unbundled fashion – ultimately the regulator is aiming to drive down data costs. So where trading venues sell their pre- ...

28 May 2015
Neil Crammond

ZERO TOLERANCE

Recent fines and admissions from regulators in many markets from commodities to currencies has proved that market abuse is sadly rife in our exchanges . I have been brave enough over the last decade t...

23 May 2015
Retired Member

Having your regulatory cake and eating it

This morning I read with interest a colleague’s blog post on the delay to the publication of the ESMA technical standards from July back to September. Whilst I appreciate that these things are compli...

14 May 2015
Retired Member

MiFID II deadlines under further pressure

The European Commission (EC) and ESMA have agreed on an improved process to draft the Level 2 texts for MiFID II. On the back of those discussions, ESMA asked for a 3-month extension on their own dea...

14 May 2015
Neil Crammond

Exchanges integrity need questioning

CAN THE REAL SPOOFER STAND UP ? Navindar Savao lawyer really needs to ask why his client had hundreds of thousands of orders processed by exchanges ? Perhaps he would be better off pleading guilty t...

10 May 2015