Trading desks face unprecedented levels of regulatory change from the mechanics of the markets and how they monitor them, to how they interact with customers, the way they de-risk their technology suppliers and provide information to regulators. This article summarises the critical changes and lays out the context for our 22 March virtual trading seminar.


Charges will apply for some delayed market data accessed on a terminal or feed as of January 1, 2023, senior banking sources said. The Markets in Financial Instruments Directive ( MiFID II) rules state market data should be free after 15 minutes. That rule has allowed sell- and buy-side financial services to access delayed market


Author: Rachel Wolcott, Thomson Reuters The European Market Infrastructure Regulation (EMIR) derivatives trade reports and Markets in Financial Instruments Directive II transaction reports regulators collect is unlikely to be yielding the market insights required to navigate the COVID-19 crisis. The European Securities and Markets Authority (ESMA) 2019/20 annual report and work programme shows EMIR reports’


RegTech and trading: re-gaining control

For years the industry has been at work on the construction site of MiFID II. This has produced a building of basic structural integrity, but one that remains incomplete, and one that has required such a singular focus that surrounding constructions have been neglected. MiFID II is one of the biggest regulatory changes since the


SFTR: challenges and changes down the road

Challenges are on the horizon for firms subject to the Securities Financing Transactions Regulation enforced through the European Commission.  The Securities Financing Transactions Regulation, or SFTR, was announced back in 2014 and entered into force on 12 January 2016.  It is geared to be fully implemented by 2019 with the last phase in occurring during


Since President Trump’s signing of Executive Order 13772 back in February 2017, the Financial CHOICE Act has passed through the House of Representatives with a 233 to 186 vote.  The substantial bill that was approved by the House, referred to as FCA 2.0, included new additions that have built upon and contradicted some actions from


With MiFID II’s implementation date of 3 January 2018 fast approaching, investment firms need to prepare for the changes that will be brought about by the EU’s flagship regulatory policy. All-encompassing in its scope, MiFID II will implement regulatory changes that will impact the trading of all financial instruments. In an attempt to fulfil the


With only 3 months left before the implementation of MiFID II, on 28 August 2017 the European Commission published a delegated regulation which added to the definition of a systematic internaliser.  Under MiFID I, the SI regime was limited to equities transactions but, under MiFID II, it has an increased scope.  A systematic internaliser is an


Commodity derivative trading is just one of the many topic areas under MiFID II that firms need to ensure they are prepared for before 3 January 2018. One set of measurements in this area is that firms will be required to report commodities positions to National Competent Authorities (NCAs) on a daily basis. Another is