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Anne Plested

Regulation
ION Markets
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09 Apr 2013
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Anne's opinions

clear
Anne Plested

MiFID II choice cuts

The overhaul of transaction reporting under MiFID II continues unabated in the latest ESMA drafts, with new obligations and data changes still being introduced. Aimed at improving the quality of data for market abuse investigation, ESMA has introduced a new requirement for transaction reports to be made available to regulators in a common XML temp...

08 October 2015 /regulation

Anne Plested

Doesn’t ESMA time fly!

Looking at the latest changes regarding accuracy of business clocks, now reincarnated as RTS 25, I noticed a number of interesting points in the text. Most importantly, the absence of the usual clause “…applies from 3rd January 2017″, with just the generic phrase stating that the rules will “enter into force on the twentieth day following that of...

06 October 2015 /regulation

Anne Plested

All together now

A common approach will be key to minimising the fallout of MiFID II implementation, particularly around the extra data required for record keeping and transaction reporting and for algo identification. I’m hopeful that the ‘final’ Technical Standards due later this month will have at least dropped requirements to include static data. Do we really n...

01 September 2015 /regulation

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- and post-trade data in the same ‘package’ they will be required to also make it available separately at a reasonable cost. Setting aside the cost dis...

28 May 2015 /regulation

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 regulatory adjustments in a flexible and agile manner”. Neither national authorities nor ESMA have any tool like the ‘no-action letter’ employed in the US....

30 March 2015 /regulation

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 hard dollar one by January 2017. Despite calls for more clarity and the recent publication of the FCA discussion paper on the regime, opinion remains d...

19 March 2015 /regulation

Anne writes about

  • regulation & compliance
  • markets

Anne's opinion archive

  • 2023 (2)
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  • 2016 (6)
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