European Securities and Markets Authority (Esma)
The Insecurity of Security
Lingering questions remain over the SEC's handling of its own cybersecurity incident.
Waters Wavelength Podcast Episode 88: CBOE's Bryan Harkins, SEC Hack, Esma Proposal
Bryan Harkins joins to discuss how the CBOE-Bats integration is going and plans for the exchange operator going forward. Anthony and James talk about the SEC hack and Esma's potential new powers.
Esma Gains Sweeping New Powers in Commission Review
MEP Markus Ferber tells Waters that this change “must not mean that the ESAs can do what they want to just because they get more money,” and that the ESG provisions are “a non-starter”.
SmartStream Hopes Collaborative SI Utility Can Solve MiFID II Dilemma
Reference data and post-trade automation technology provider is meeting with banks in an effort to solve systematic internalizer conundrum.
EDMA: Mifid II Driving Fixed-Income Businesses Away
EDMA warns that inconsistencies in transaction reporting are already forcing fixed-income participants to move outside the EU.
Europe Can Benefit from US Experience in Money Market Reform
As European firms move to comply with data and reporting requirements under MMF Reform, they can learn from a similar initiative introduced seven years ago in the US
The Power of Law: Wiener Börse CEO Christoph Boschan
Christoph Boschan on mixing finance with law, Mifid II's flaws, and how Wiener Borse is avoiding a "massive technology trap."
Power to the People: Will MiFID II Data Disaggregation Deliver on Cost Control Promises?
MiFID II’s data disaggregation requirements aim to reduce data costs by forcing marketplaces to unbundle datasets and sell consumers only the specific data they need. But in reality, this seemingly simple and cost-reducing idea could make buying and…
Mifid Gears Grind into Motion as Systematic Internalizers Emerge
Market codes release shows over a dozen new entities registered in activity ramp-up
Dealers Push for Delay of European Derivatives Trading Obligation
Banks and industry associations warn of havoc if current timeline is implemented
NEX Launches Reporting Platform for Revised Emir Requirements
Nex Regulatory Reporting has introduced its new reporting solution, based on updated European derivatives rules
Buy Side Questions Value of MiFID II Cost Transparency Data
“It is a competitive marketplace and, in my experience, professional traders are quite capable of trading at a market price that is fairly independent of a specific dealer’s cost structure.”
FCA Worried by Lack of Readiness for MiFID II Reporting
UK watchdog accepts “scale of the challenge” but urges firms to “crack on” with putting data reporting apparatus in place
ESMA Clarifies EU Benchmark Index Rules
ESMA has published a Q&A intended to address some of the uncertainty surrounding benchmark index usage under the new Benchmark Regulation.
FCA Clarifies Approach to Research Unbundling under Mifid II
Amendments to rules on best execution and investment research confirmed by regulator for UK firms ahead of January 2018 implementation date.
Bumpy Ride Ahead for EU Benchmarks Under BMR
Regulators turn their attention from one type of benchmark to another, prompting some firms to hive off index businesses, and leaving those that remain-and the acquirers-with significant compliance burdens.
Banks Wrestle with Mifid II Derivatives Quoting Rules
Chris Davis explains why derivatives dealers are wary of new quoting requirements under Mifid II.
Lack of ESMA Data Fuels Energy Firms’ MiFID Woes
Stella Farrington reports on how a hold-up in data from ESMA is causing havoc for commodity firms that need to perform tests to determine whether they fall under the scope of MiFID II.
June 2017: Silver Lining in a Perfect Storm
Max says firms can find opportunities in the data challenges presented by regulation.
IBM Watson, Euro Clearing and Finastra: A Week in Review
John reviews some of last week’s top sell-side stories, including the European Commission’s proposals for new rules on the supervision of non-EU CCPs.
Tech Challenges Loom as Europe Eyes London’s Clearinghouses
New EU rules suggest London-based clearinghouses may be forced to relocate to the eurozone.
ESMA Preps Financial Instruments Reference Data System Launch
The Financial Instrument Reference Data System (FIRDS) will go live on July 17, 2017.
ESMA Fines Moody’s €1.24M for Credit Ratings Breaches
ESMA says that between June 2011 and December 2013 Moody’s failed to explain decisions for 19 ratings.
ESMA Grants Approval to Bloomberg European Trade Repository
Bloomberg set to open trade repository for Europe for OTC and exchange-traded derivatives reporting.