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No Need to Reinvent the Tech Wheel for Key Derivatives Rule, When (Or If) It Comes
By: Steven Strange, Buy-Side Product Manager, Fidessa In late 2015, the U.S. Securities & Exchange Commission proposed a new rule designed to regulate the use of derivatives by registered investment companies. Rule 18f-4, as it is known, would affect the way derivatives and related assets are included into the portfolios of mutual funds, ETFs, and…
MiFID II Lead Rodrigo Buenaventura Leaves ESMA at End of March
Rodrigo Buenaventura, head of the markets department at the European Securities and Markets Authority (ESMA) and leader of the authority’s implementation of Markets in Financial Instruments Directive II (MiFID II), will step down from the post at the end of this month. He will be replaced by Fabrizio Planta, currently head of ESMA’s post trading…
ESMA Says Implement MiFID II with Draft Rules, FIX Calls for Clarity
If you missed the FIX EMEA event last week, there is something you need to know – while the final details of Markets in Financial Instruments Directive II (MiFID II) have not yet been ironed out and the directive’s final rules are not yet published in the Official Journal of the European Journal, there is…
FIX Trading Community Offers MiFID II Compliance Help
FIX Trading Community, the non-profit industry standards organisation that promotes adoption of the Financial Information eXchange (FIX) protocol, has announced updates to the FIX protocol addressing MiFID II and MiFIR requirements. The organisation will also advise its members to review and adopt the updates as soon as possible so development work can begin, according to…
Datactics RegMetrics User Monitors 10 Million Records to Ensure Data Quality
Datactics has implemented its RegMetrics data quality reporting solution at a Tier 1 global bank. The bank is using the software to monitor over 10 million underlying records, which requires hundreds of millions of data points to be processed. The bank is also building predictive analytics on top of the RegMetrics framework to monitor data…
ESMA Raises Alarm About Systematic Internalisers
The European Securities and Markets Authority’s chair, Steven Maijoor, has raised an issue concerning the use of systematic internalisers (SIs) to circumvent MiFID II rules, writing to European Commission director general Olivier Guersent earlier this month. In a letter dated February 1 and released to the public on February 14, Maijoor wrote that market participants…
ESMA States its Case on Distributed Ledger Technology
The European Securities and Markets Authority (ESMA) has stepped into industry discussion on the pros and cons of distributed ledger – or blockchain – technology (DLT) and concluded that regulatory action is premature at this stage, but may not be in the longer term. The authority issued a report this week, The Distributed Ledger Technology…
FCA Discusses Progress on MiFID II Policy and Practicalities of Implementation
Details on final requirements and the implementation of Markets in Financial Instruments Directive II (MiFID II) will continue to be published over coming months, leading the UK Financial Conduct Authority (FCA) to conclude that serious efforts must be made towards achieving compliance on the 3 January 2018 deadline, although perfection is not expected. Stephen Hanks,…
Convergex Implementation Shows Ancoa’s Global Value
Trading services and solutions provider Convergex has implemented an Amazon Web Services (AWS)-hosted market surveillance platform provided by Ancoa, gaining a “one-stop shop” for surveillance of trading activity in both the US and internationally, according to Ann Neidenbach, chief information officer at Convergex. Convergex’s US team has been using Ancoa’s platform for about six months,…
MiFID II Response Depends On Organizing Data, Sticking To Exchanges
Transparency of financial market activity will be key to achieving compliance with MiFID II best execution provisions, states independent industry consultant Chris Pickles, who will be on a panel discussing data management under the European Union directive, at the Intelligent Trading Summit (ITS) to be hosted by A-Team Group in London on 2nd February. “MiFID…