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Retired Member

MiFID II set to cast its net worldwide

The current MiFID II draft suggests that trading venues have to fulfil the transaction reporting for non-EEA exchange members. While it is understandable that regulators want to ensure complete recor...

08 May 2015
Retired Member

Flagging on the road to transparency

With its aim of increasing transparency around execution quality, under the current draft technical standards MiFID II will require investment firms to provide an annual execution quality report that...

27 Apr 2015
Neil Crammond

Why can exchanges exploit fair and orderly markets .

I am constantly asked about market abuse and manipulation within our markets and how best to combat these undesirable threats . Since entering the trading arena in 1982 I have witnessed a number of ab...

09 Apr 2015
Retired Member

Backdoor Unbundling

I was relaxing on my way home on the 7.02 from Waterloo last night when I came across Nick Goodway's excellent article on the impact of unbundling and research procurement. As everyone knows, ESMA wa...

09 Apr 2015
Retired Member

Mario Draghi: The European Financial Savant?

Big Talk and Big Action by Mario Draghi! Europe has been in dire straits economically, what with poor productivity, high unemployment, historically low interest rates and the threat of deflation loomi...

01 Apr 2015
Anne Plested

ESMA stops short of a no-action letter

Having taken several years to get through the review of MiFID, it was interesting to hear from ESMA chair Steven Maijoor last week that there is an appetite to “explore the mechanisms to address regul...

30 Mar 2015
Retired Member

Left in the dark

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 ...

26 Mar 2015
Neil Crammond

regulators finally begin to outpace physicists in race to catch market manipulators !

ESMA want HFT venues to syncronize their clocks to within a nano second to help exchange supervisors track market abuses . This is a proirity to link the time stamp acknowledging an order after rece

19 Mar 2015
Retired Member

Currency Crises in Emerging Markets?

‘It’s like a unilateral U.S. military operation, but global infrastructures are left standing’ The sheer size of the U.S. economy and the fact that the greenback is the world's reserve currency weigh ...

19 Mar 2015
Anne Plested

Change is the only constant

The unbundling of payment for research is a top concern for the industry. There seems to be general acceptance that, one way or another, Europe is set on the soft dollar research market becoming a har...

19 Mar 2015
Retired Member

Holding a steady course

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 ba...

12 Mar 2015
Mark Cheng

RegBlog - Chinese Options Market

The Shanghai Exchange: China’s First Step for Options After much speculation and delay, February 9, 2015 marked the day when China launched her first publicly traded stock options exchange in Shanghai...

10 Mar 2015