With periodic auctions seemingly absorbing some of the liquidity previously seen in the dark following news of a Single Volume Cap (SVP) in the EU, additional effects are yet to be fully understood, says expert.
In a co-signed letter, the associations outline five key recommendations, which include expanding the depth of pre-trade quotes and adding venue identifiers on pre-trade data.
"Through measuring the execution outcomes when trading in the OneChronos ATS in the US, third party validation is showing market leading high quality, low reversion metrics and we intend to bring this experience to European clients," Scott Bradley, chief executive of OneChronos Markets UK, told The TRADE.
With ValueExchange research in April revealing that 26% of firms surveyed indicated they would miss the target date, the UK Accelerated Settlement Taskforce is urging firms who have not begun preparing to do so now, reiterating that “rewards will be meaningful”.
A joint statement from AFME, EFAMA and FIA EPTA follows numerous disruptions since 2020, most recently the Nasdaq Nordic and Baltic outage in July 2025.
The FCA has confirmed that the challenge to its appointment of Etrading Software as the UK’s consolidated tape provider is set to delay the implementation process.
The FCA has approved the move, citing the opportunity to “boost growth and unlock capital investment […] seeding a competitive market that gives greater investor access to exciting growth companies."
UBS has previously stated its objective to address Credit Suisse’s outstanding matters “swiftly, fairly, and in a balanced manner, in the best interest of all stakeholders”.
The move makes the company Europe’s only asset management firm to hold a triple regulatory license combination, spanning AIFM, Mifid and MiCA licensing.
The Committee’s 60-page report contains recommendations for market participants in the EU for transitioning to a shorter settlement cycle.