Source: Financial Times It is crunch time for the UK’s small corporate brokers, as new European markets rules begin to squeeze the sector. Mifid II legislation, which came into force in January, requires fund managers to pay banks and brokers directly for analysts’ research instead of combining the cost with trading commissions. The shake-up has […]

Source: ESMA Updates include DVC data and calculations for the period of 1 March 2017 to 28 February 2018 (so-called March 2018 publication) as well as updates to already published DVCs. MiFID II introduced the DVC to limit the amount of dark trading in equities allowed under the reference price waiver and the negotiated transaction […]

The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers regarding transparencyand market structures issues under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The Q&As provide clarification on the following topics: the scope of the trading obligation for derivatives; the default tick size regime; fee structures; SI […]

Source: LeapRate MiFID, or the Markets in Financial Instruments Directive, has presented European financial institutions with a vast array of challenges. One of these is the relationship with and definition of Introducing Brokers, or IBs. The real question is whether all member company affiliates must be classified as IBs. Financial trading companies have been working […]

The European Securities and Markets Authority (ESMA) issued a first badge of position management controls under the Markets in Financial Instruments Directive (MiFID II). MFID II requires Member States to ensure that an investment firm or a market operator operating a trading venue which trades commodity derivatives apply position management controls. Investment firms or market […]

From today, one of the EU’s most ambitious set of financial reforms will be implemented. Markets in Financial Instruments Directive, or MiFID, II is an upgraded directive designed to offer greater protection for investors and inject more transparency into all asset classes: from equities to fixed income, exchange traded funds and foreign exchange. MiFID II […]

he European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) regarding commodity derivatives under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The purpose of this document is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR in relation to commodity […]

The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&As) regarding data reporting under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The purpose of this document is to promote common supervisory approaches and practices in the application of MiFID II and MiFIR in relation to regulatory […]

The European Securities and Markets Authority (ESMA) has today opened a public consultation on a proposed amendment to the Regulatory Technical Standard (RTS 1) which details the implementation of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). ESMA proposes to amend RTS 1 to clarify that systematic internalisers’ (SI) quotes should reflect […]