1029 Results from /wholesale
Retired Member
Global harmonisation of financial regulation is high on the wish list of many trading firms and, in one sense at least, the regulators in Europe and the US are pretty well harmonised. Both have a tendency to publish long-awaited documents right before major holidays. Last week we saw another example of the regulation ‘holiday effect’ with the CFTC...
29 November 2016 /regulation /wholesale
To achieve MiFID II’s aim of greater transparency, having a proper golden source of instrument data is key for every market participant. Fortunately, under the new rules, ESMA is required to publish a list of all financial instruments traded on all trading venues and systematic internalisers, enriched with useful, related information such as MiFIR...
12 October 2016 /wholesale
ESMA today published its first Q&A on MiFIR transparency topics which focuses on the double volume caps (DVCs) in equity markets and clarifies how markets can transition to the new DVC regime. The document outlines how to calculate the market share of non-transparent trading for instruments only coming in scope under MiFID II (think ETFs, for...
03 October 2016 /wholesale
With increasing regularity, I’m hearing more and more banks saying that they are faced with having to do more with less - almost a mantra for our times. The facts that support this are obvious. The burden of regulation is adding huge overheads. Market conditions are difficult. There’s a squeeze on margins and revenues are declining. More pain, le...
28 September 2016 /wholesale
Beneficial ownership recently came to the fore once again with two high profile leaks – mostly recently the Bahamas leaks which saw the exposé of the names of directors and shareholders of nearly 176,000 shell companies trusts and foundations, an event that was preceded five months previously by the Panama Papers leaks which saw 11.5 million docum...
27 September 2016 /regulation /wholesale
In considering practical applications for Blockchain for banking processes, one of the specific areas that is in dire need of this type of technology is trade finance. Long reliant on complex banking correspondent relationships, the issuing and tracking of documentary letters of credit, and prone to the risks of delivery of payment and goods on a ...
19 September 2016 /wholesale Financial Supply Chain
Can you imagine the reaction of a bank employee if one morning he reads this headline? In the spring of 2010 I polled the students of the Master of Finance about how many of them would rather work for Google instead of a bank. Survey results: 5%. Last Friday I have made the same question for the current group. Survey results: 96%. Despite the effo...
19 September 2016 /wholesale
The recently unveiled plan of European Money Markets Institute (EMMI) to enhance the robustness and viability of Euro Overnight Index Average (EONIA), one of the major reference rates in European money markets, is a welcome reassurance to the investors and the global economic structures at large. The plan to strengthen and overhaul this critical b...
17 August 2016 /regulation /wholesale Financial Services Regulation
The recent slew of exchange announcements introducing new dark trading facilities in response to MiFID II would appear to suggest that the regulation has triggered a whole raft of innovations. But is that what’s really happening here? Euronext tells us it is planning to introduce a new liquidity discovery service building on its existing iceberg o...
15 August 2016 /wholesale
Banks must lower their services cost to at least 10% of their current cost. 3D printers cost $40,000 in 2007, $100 in 2016. Drones cost $100,000 in 2007, versus $100 in 2016. Knowing the sequence of the full human DNA used to cost $10 million in 2007 and in 2016 it only costs $100. All this has been achieved thanks to processes of exponential grow...
01 August 2016 /wholesale
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