Misaligned T+1 timelines ‘a big problem’ for global securities industry, says panel
Views come as UK expected to reveal shorter timeframe for T+1 switch than European counterparts.
Tag: ESMA
ESMA opens door for T+1 implementation in Europe
European regulator launches a call for evidence to assess the impact of a shorter settlement cycle on the continent; final report scheduled for Q4 2024.
ESMA publishes first consultation on Markets in Crypto-Assets regulation
Developed following an observable lack of uniform rules around the relatively new asset class, ESMA is seeking input on MiCA’s proposed rules for crypto-asset service providers.
ESMA publishes recommendations for trading venues in the event of a market outage
As part of the opinion, venues should consider offering members an “order book purge” in the case where orders are compromised, ESMA has concluded.
ESMA recognises Malaysia, Taiwan, Colombia and Israel CCPs
The move takes total recognised Third Country (TC) CCPs to 39; comes as watchdog withdraws recognition of six Indian CCPs.
Exclusive
FCA confirms tender process for UK consolidated tape
The UK watchdog today confirmed its decision to go with a single CT model chosen by tender process; while the European Parliament has finally come down in favour of the Mifir/Mifid II amendments suggested by MEP Danuta Hubner last year. Could a consolidated tape finally be on the cards?
Equities settlement fails steadily decline in H2 2022, ESMA data shows
Decline in equities market were somewhat offset by increases in fails in both the corporate and government bond markets.
ESMA warns of high risks amid fragile markets, despite a “remarkably stable” H2
The regulator’s first Trends, Risks and Vulnerabilities (TRV) report of 2023 warns that high levels of uncertainty and fragile market liquidity are limiting the resilience of the financial system against further external shocks.
Europe
ESMA confirms changing scope of multilateral trading definition including request-for-quote and execution management systems
The conclusion comes as part of a consultation on the scope of a multilateral trading venue launched by the EU watchdog in January last year to level the playing field.
Traders are turning to AI to manage market impact on large orders, finds ESMA paper
EU watchdog has released an article exploring the use of artificial intelligence and machine learning in the markets, noting traders are utilising technology to minimise impact.