Hidden Road receives FINRA broker-dealer approval
The approval builds on Hidden Road’s recent expansion of its fixed income prime brokerage platform and follows the firm’s acquisition by Ripple announced earlier this month.
Regulation
European Commission exploring US-style order protection rule among other market reforms
New consultation paper explores how effective US Reg NMS rule is while also re-tabling VWAP Crossing in Europe, reviewing dark trading levels in Europe, the prospect of 24-hour trading and more.
GIX trading platform becomes first green securities exchange to gain SEC approval
Sustainability-focused exchange expects to begin trading in early 2026.
ESMA firms up rules of engagement amid market turbulence
Among the proposed rules are incoming changes to the operation of systematic internalisers (SI), with more structured processes for informing national regulators set to be introduced.
ESMA invites successful bidders to participate in next stage of EU bond tape tender
The European Securities and Markets Authority (ESMA) has communicated its decision directly to the relevant bidders, The TRADE understands.
Participants keeping watchful eye on growing bilateral trading segment in 2025
Almost half of EMEA FIX Trading conference attendees said that the impacts on price formation in public markets as a result of increasing bilateral trading is their greatest regulatory focus for 2025.
SEC extends US Treasury clearing compliance deadline in bid to help firms implement necessary risk management changes
SEC rule delay aimed at maintaining status quo in the $28.5 trillion market until end of 2026.
FCA welcomes UK taskforce final report on the move to T+1
Following the taskforce report published on 6 February, the FCA is calling on the industry to engage and start planning as soon as possible.
New SEC administration withdraws dealer rule appeal
Move comes a year after the introduction of the policy which saw significant backlash from the industry upon unveiling.
ESMA thwarts European trajectory crossing plans with last minute rule change
Changes will halt European plans by Cboe, Aquis and PureStream – powered by Nasdaq – to launch trajectory offerings on the continent which were scheduled for the coming months.