Tag: ESMA

Appointment will coordinate the work of the industry, acting as the link between various market participants.

Despite a year of consultation on tweaking the mechanism or significantly increasing penalty rates, European watchdog confirms only a ‘moderate’ increase will occur after considering industry feedback.

Migration aligns with the UK’s proposed switch, with ESMA pointing to the efficiency and resiliency benefits of the move.

A statement from ESMA comes a day after Task Force recommendations, claiming a coordinated approach across Europe is “desirable” while stressing the urgency in avoiding prolonging the negative impacts of settlement misalignment.

The selection procedure for the bond consolidated tape provider (CTP) and the CTP for shares and exchange traded funds ETFs will launch in January 2025 and June 2025 respectively.

The consultation package includes five key focuses; the standards once approved are set to facilitate the consolidated tape provider (CTP) appointment for the EU as well as increase transparency across market factions.

The European market is facing significant challenges with financing needs which currently “far exceed” the capacity of the region’s fragmented markets, said Christine Lagarde, president of the European Central Bank, as she called for the market to embrace ESMA’s proposals.

Simultaneously, the watchdog has launched its third, and final, consultation package under the Markets in Crypto-Assets (MiCA) regulation.

“No logical or economic basis for progressive penalties” says one association as others reply to European regulators to point out the damaging unintended consequences of such a system.