Panellists speaking at a panel hosted by The TRADE at the London Stock Exchange were less than excited by the UK’s tape proposal in comparison with that put forward by Europe.
The company says it’s working with 10 institutions including Norges Bank Investment Management, Deutsche Bank, Citadel Securities and UBS to finalise its tape prototype.
Industry association has hit out against proposed changes to the systematic internaliser regime in equities and transparency thresholds in fixed income.
Latest liquidity landscape report from Liquidnet found that 74% of volumes in STO stocks took place on EMEA-based venues in January.
The EU could potentially extend its current temporary 18-month equivalence decision to give banks on the Continent access to UK clearinghouses until 2025.
Among the concerns raised are renumeration plans for compensating data contributors to a tape and the ongoing issue of market data costs.
The exchange operator has said Brussels' consolidated tape revenue regime neglects pan-European venues including Cboe NL, which it claimed was the largest EU lit book.
Leading global banks settle case of “Sterling Lads” FX trading cartel with reduced fines after their co-operation helped the Commission's investigation.
The association said the European Commission’s definition of PFOF in its MiFID II amendments is vague and leaves potential loopholes for those trying to skirt the new rules.
The European Commission and ESMA have overhauled the Mifid II and Mifir regulations including moves to reduce dark volume caps to 7% and discourage volumes from SIs.