Buy-side ‘aware and worried’ about T+1 as implementation and testing ramps up
Europe and Asia Pacific firms are honing their focus in recent months amid mounting pressure surrounding the shift to T+1 in North America.
Tag: AFME
Recent EU consolidated tape compromise is a ‘missed opportunity’, says AFME
AFME chief says inclusion of sufficient pre-trade information has been lost in negotiations and could lead to suboptimal outcomes.
Joint trade associations highlight equity, fixed income and market data concerns ahead of upcoming Mifir review
AFME, EFAMA and BVI have urged co-legislators to take an evidence-based, addressing industry concerns appropriately, even if this results in a longer time to complete the negotiations.
European Commission adopts draft Memorandum of Understanding with the UK
The MoU, however, will not make any decisions around the adoption of equivalence or deal with access of UK-based firms to the single market or EU firms’ access to the UK market.
Average daily equity trading down 15% year-on-year, says AFME
AFME’s latest equity primary markets and trading report found that average daily equity turnover declined by €15 billion YoY, while also noting declines in block trading and double volume cap instrument suspensions.
Post-Trade
T+1 settlement: The seismic post-trade change impacting the trading desk
With the US confirming its shift to T+1 settlement in 2024, Wesley Bray looks at the impact this will have globally, whether or not the UK and EU should follow suit and how trading desks will be impacted by the move.
AFME calls on regulators to remove caps on block trading
The Association recommended that volume caps should be removed or, alternatively, suspended for a five-year period, after which ESMA should assess whether the cap is negatively impacting price formation.
Ongoing Mifir Review and regulatory complexity is harming liquidity in Europe, says AFME
Industry association warns regulators that the ongoing Mifir Review could risk holding back EU equity markets; is calling for a diverse range of trading mechanisms in Europe.
Equity capital raising on European exchanges falls to its lowest since 1995
The latest Equity Primary Markets and Trading Report from AFME also shows that equity underwriting on European exchanges declined 61% in 2022 – although average daily equity trading is up 9%.
AFME warns Mifir review could harm liquidity
Instead, the association has laid out its own recommendations which it predicts will protect the role of a market maker as a liquidity provider and banks as shock absorbers.