Trading in dark pools and periodic auctions lowers execution costs, FCA paper concludes
Analysis from the UK’s regulator has said that dark trading, which the EU has restricted under MiFID II rules, can reduce costs for investors.
Tag: DVCs
Buy-Side
Buy-side rejects changes to dark trading and SIs under MiFID II review
Initial responses to the MiFID II review consultation reveal that asset managers are keen for a consolidated tape before any major changes to the rules are implemented.
European watchdog eyes major changes to dark trading rules under MiFID II
ESMA is considering removing certain transparency waivers which would make the DVCs redundant, or lowering the threshold market-wide to further restrict dark trading in Europe.
Regulation
Dark pool trading volumes surge to pre-MiFID II levels
Analysis by TABB Group finds that dark pools volumes reached the largest share of on-exchange in April since before MiFID II was implemented.
ESMA to suspend publication of vital MiFID II calculations in case of ‘no-deal’ Brexit
ESMA prepares for 'no-deal' Brexit with plans to temporarily suspend calculations for vital MiFID II rules including the SI regime, DVCs and bond liquidity.
Equities
Industry opposes regulatory intervention for periodic auctions
The EU financial regulator has published responses to its call for evidence, revealing that the industry is firmly behind the use of periodic auctions.
Hayley’s Comment: Misguided intervention
Senior reporter Hayley McDowell examines ESMA’s investigations into periodic auctions and asks what it could mean for the future of trading post-MiFID II.
The TRADE’s best of 2018: Regulation
John reviews the best of The TRADE’s coverage of regulatory issues over the past 12 months.
ESMA suspends 932 stocks from June for MiFID II DVC breaches
Latest data on DVC breaches under MiFID II finds more than 900 stocks are suspended from trading as of 7 June.
UK block trading continues to rise after record trading week
Turquoise Plato and Liquidnet led major block trading venues in record week of activity in the UK.