To PFOF or not to PFOF? Europe vs the US
US and European regulators look set to be taking starkly different stances on the contentious practice of paying for order flow.
Tag: European Commission
Data
Mifid II London roadshow: Are Europe’s consolidated tape proposals superior to the UK?
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.
Ediphy gearing up to become European non-equity consolidated tape provider
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.
AFME warns ‘suboptimal’ MiFIR review undermines Europe’s competitiveness and favours certain venues
Industry association has hit out against proposed changes to the systematic internaliser regime in equities and transparency thresholds in fixed income.
European venues maintain grip on EEA stocks post-Brexit, report finds
Latest liquidity landscape report from Liquidnet found that 74% of volumes in STO stocks took place on EMEA-based venues in January.
Brussels sets out plans to offer three-year extension to UK clearing equivalence
The EU could potentially extend its current temporary 18-month equivalence decision to give banks on the Continent access to UK clearinghouses until 2025.
Trading associations hit out at European Commission’s consolidated tape revenue scheme
Among the concerns raised are renumeration plans for compensating data contributors to a tape and the ongoing issue of market data costs.
Cboe slams European Commission’s ‘highly discriminatory’ consolidated tape plans
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.
EC closes investigation into latest FX spot trading scandal
Leading global banks settle case of “Sterling Lads” FX trading cartel with reduced fines after their co-operation helped the Commission's investigation.
Market makers association warns against loopholes in European ban on payment for order flow
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.