ESMA Sends Letters to CFTC and SEC Asking for Greater Cooperation Across the Pond on Swaps Data
In light of the recent discussions going on in the US between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) around the introduction of new data repositories and reporting requirements for the swaps market, the European Securities and Markets Authority has sent a letter to both regulators stressing the need...
ESMA Issues Call For Evidence About Credit Ratings Agency Registration Requirements, Technical Standards Incoming
Following on from its predecessor’s work last year, the European Securities and Markets Authority (ESMA) is reaching out to credit ratings agencies and the users of ratings to provide feedback on its proposals for endorsement guidelines, which will form the basis for technical standards that will need to be adopted by 7 June this year....
Modernise Data Protection Laws says Former UK Information Commissioner
Former UK Information Commissioner Richard Thomas CBE called today for a modernised European framework for data protection to address the realities of the digital world of the 21st Century. “The pace of technological change is increasing both benefits and threats,” said Thomas, now a strategy adviser at leading international law firm Hunton & Williams and...
CFTC Meeting Highlights Funding Concerns, Might the Foot be Taken Off the Data Standards Pedal?
It may have appeared to be business as usual during the Commodity Futures Trading Commission’s (CFTC) ninth meeting on the Dodd Frank rulemaking this week, with position limits and swaps documentation requirements up for discussion, but comments by staffers indicate that pressing concerns about funding persist and may hold back key data standardisation initiatives. One...
SIX Exfeed to Launch New Real-time Data Service for Non-display Information Usage
As a result of the SIX Swiss Exchange and SIX Exfeed consultation on reference markets and the principles of real-time reference data pricing, published on 3 November 2010, SIX Exfeed will replace the annual distribution fee for execution venues with a new license fee for non-display information usage. The decision has been taken based on...
Euroclear Nederland Ready for Dutch Securities Dematerialisation
Euroclear Nederland is now taking measures to remove all paper-based securities certificates in the Netherlands, in compliance with an amendment to the Dutch Securities Giro Act (“Wet giraal effectenverkeer”). Signalling a move towards full securities dematerialisation in the Netherlands by the end of 2013, the revised legislation, which took effect on 1 January 2011, means...
CESR Presents Examples of Formatting for UCITS Key Investor Information Documentation
Earlier this year, the Committee of European Securities Regulators (CESR) published a series of consultation papers providing guidelines for the selection and presentation of data for the new Key Investor Information (KII) documents and this week, the regulator has published more related data requirements for these new UCITS documents. The CESR guidelines on the selection and...
CFTC and SEC Seek Input on Joint Proposals for New Algorithmic Descriptions for Complex and Standardised Derivatives
In line with the Dodd-Frank Act’s push to get derivatives onto exchanges and centrally cleared, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have set up a joint study to examine the feasibility of adopting new standardised computer readable codes to identify complex and standardised derivatives. The request for comment...
Rand Report Explores Conflict Between European Data Privacy Laws and E-discovery Requests
FTI Technology, the e-discovery business segment of global advisory firm FTI Consulting, today announced the availability of a RAND Europe report entitled “E-Discovery and Legal Frameworks Governing Privacy and Data Protection in European Countries.” The complimentary report, which is available for download at the FTI Technology site, provides guidance on a common challenge for multinational...
BT’s Pickles Discusses the Data and Risk Management Aspects of the Sequel to MiFID
Although there has been significant focus on the front office and trading impacts of the MiFID review, there are a whole host of middle and back office concerns to consider. Reference Data Review speaks to Chris Pickles, head of marketing for Financial Markets & Wholesale Banking at BT, about his perspectives on these challenges. There has...