Mifid II
Shall we compare thee to a multilateral trading venue?
As regulators confirm that perimeter guidance applies to tech firms, the focus shifts to enforcement
New benchmark aims to break 4pm fix hegemony
Siren uses 20-minute trade window in a bid to combat fears of manipulation
Esma plan ‘won’t help’ fix Mifid swaps data problem
Dealers say proposal to force disclosure of all big-bank OTC derivatives trades won’t improve data
FX options: the race to electronification has only just begun
Could years of entrenched voice trading in FX options be about to end as electronification gathers pace?
OTC FX options market gears up for faster electronification
Share of electronic trading remains low but host of factors promise to change that for good
Has Covid stopped the clocks on FX timestamp efforts?
Budget reallocation may not be the only factor stalling standardisation progress, say participants
EC looks to GFXC on potential regulation of spot FX
GFXC to meet this week about revising global FX code, which may influence European legislator stance
Mifid best execution relief for buy side hangs by a thread
Largest grouping in European Parliament faces uphill battle to suspend RTS 28 reporting
AFM seeks ‘level playing field’ for venues and aggregators
Dutch regulator suggests some liquidity services should be classified as OTFs
Buy side hopes for best execution reporting carve-out
After EC exempts venues from best execution reporting, Aima argues funds' RTS 28 reports should follow
Buy-side firms reject EMS brokerage charges
Some users favour licence fee over per-trade charging – and have forced vendors to switch
Spot FX shies away from regulatory yoke
As Europe weighs Aussie-style rules for spot trading, some see benefits – but many fear the burden
Applying Mifid to spot FX could backfire, warns MEP
EC would need to make "very compelling case" to draw spot market into wider regime, says Ferber
Debelle: regulation could be ‘helpful’ to FX code
As EU weighs regulation of spot market, GFXC chair dismisses key industry argument
Spot FX could be dragged into Mifid II
EC tells FX Markets it is studying Australian-style approach to regulating currency trading
FX aggregators flirt with scrutiny over brokerage charges
Making dealers pay for trades raises ‘payment for order flow’ questions
Trading venues decry disruptors as MTF battle heats up
Unregulated tech vendors accused of operating as de facto venues; claim dismissed as “entirely outrageous”
Rise of the algo wheel
How the buy side is embracing algorithm wheels and where challenges still remain
Bad clocks block FX best-ex
To get a good deal in fast-moving FX markets, buy-side firms need to know the time. Some of them don’t
Numbering association starts work on crypto identifiers
Anna task force explores how Isins can be extended to digital assets such as tokenised securities and cryptocurrencies
Algo adoption at inflection point, driven by buy side
Usage in FX is rising, but there are inherent limitations to overall take-up