Mifid
Esma guidance on swaps transparency still leaves questions
Volatile instrument attributes removed from transparency determination, but further issues remain
MTF bilateral trading protocol offers Mifid arbitrage
Nordic banks to use protocol to benefit from longer deferral period
Delay on EU pre-trade, commodity rules ‘risky’
Local authorities will apply key elements of Mifid II temporarily, owing to Esma backlog
Mifid II – The regulatory reporting challenges that lie ahead
Sponsored feature: NEX Regulatory Reporting
Mifid II position limits: Preparing, monitoring and reporting in the new regime
Sponsored webinar: FIS
EU-US swaps trading equivalence tipped for November
Hong Kong and Singapore unlikely to be deemed equivalent for start of Mifid II
Not on the list: Mifid’s systematic internaliser mystery
Self-identification of systematic internalisers in derivatives could fuel buy-side confusion
EU trading obligation threatens packaged trades
Banks warn they will have to break up packages and face higher costs for hedging
Day of the Mifids: what happens on January 3?
Continued ambiguities in the rules could hit European market liquidity at the start of 2018
Regulators split on Mifid swaps transparency
Esma and FCA divided over when participants must determine whether derivatives are trading on-venue
Tradeweb’s Mifid bilateral trading plans draw fire
New process will class privately executed trades as on-venue to satisfy trading obligation
Numbers game: Mifid guidance adds to swaps trading confusion
Market participants say using strike price to determine trading obligation will be impossible
The changing face of European interest rate swaps trading
Sponsored webinar: Tradeweb
EU regulators stymied by Esma on electronic access
Treatment for third-country firms unknown until European Commission makes equivalence decision
Too little, too late: Esma data won’t fix energy firms’ Mifid woes
Data confusion and unworkable exemption timeframe risk commodity market disruption
Esma to publish Mifid II commodity market data by July
Data vital to establish if firms are in Mifid II, but it will be incomplete, agency says
EU regulators consider Mifid electronic trading lock-out
Moves to restrict third-country firms from offering direct electronic access blamed on Brexit
Esma turns the screw on direct electronic access
Guidance thwarts narrower definition adopted by Eurex to help third-country clients
The spirit is willing, but the drafting is weak
Asking firms to operate in the spirit of the law will not solve Mifid trading venue confusion
Identity crisis: venues still struggle with Mifid designations
Lack of clarity on multilateral and matched principal definitions leaves market participants guessing
Regulatory arbitrage fears over Mifid post-trade reporting
EU regulators may use different reporting deferral periods for large or illiquid trades