There are so many moving parts to the Brexit negotiations between the U.K. and the E.U., but the European Commission’s wish to tighten its grip on non-European clearinghouses has rankled U.S. regulators. In an opinion piece titled “An EU Plan to Invade U.S. Markets,” published in The Wall Street Journal by J. Christopher Giancarlo, chairman… Read More >>
Most Firms Overwhelmed by MiFID II’s Best Ex Rules
The onset of MiFID II may be only four months away, but a significant number of asset managers are not prepared to meet the best execution obligations, according to a new study, “Re-Engineering Best Execution,” conducted by Liquidnet, provider of a global institutional trading network. Canvassing 55 North American and European heads of trading and… Read More >>
ESMA Helps CSDs Prepare for New Rules
E.U. regulator the European Securities and Markets Authority (ESMA) has had a busy summer, with its latest efforts being the publication of guidelines regarding the cooperation between authorities under the Central Securities Depositories Regulation (CSDR). The CSDR is intended to ensure competent authorities (CAs) work together to apply the legislation in a consistent, efficient and effective supervisory manner…. Read More >>
Australian Firm to Use Eagle Platform for Data & Performance Management
QIC Moves Away from Global Custodian QIC, the Australian investment fund for the Queensland government, will be using cloud-based data management and performance measurement solutions from Eagle Investment Systems, which marks a move away from a global custodian that had been providing outsourced data and performance measurement functions. The firm, which has A$81 billion in… Read More >>
E.C. Eyes the Prize of Euro-Denominated Clearing
The European Commission (E.C.) has been trying to get its hands on London’s lucrative $900 billion-per-day euro-clearing business for years and it is using Brexit to seize the prize. While the plans stop short of a forced relocation after the U.K. leaves the European Union (E.U.), newly released proposals from E.C. officials would tighten the… Read More >>
How Harmful is Knee-Jerk Deregulation?
(Editor’s note: David Bailey, group head of marketing and communications, Augentius, spoke to FTF News about the need for transparency among the general partners, limited partners and regulators, particularly as the CHOICE Act bill, a Republican alternative to the Dodd-Frank Act, is proposing cut the SEC registration requirement for private equity investment advisers. The private… Read More >>
RegTek Launches EMIR-Focused Reporting Service
The push to be ready for the next phase of the Markets in Financial Instruments Directive (MiFID II) reforms is not the only European regulatory initiative that global firms have to worry about. On November 1, firms face a deadline to comply with the revised reporting specifications (RTS) required by the European Securities and Markets… Read More >>
Global LEI Overseer Officially Blesses DTCC’s GMEI
The Legal Entity Identifier (LEI) utility subsidiary of post-trade infrastructure provider DTCC has gotten an official accreditation from a global overseer that will boost the number of LEIs in the system and bolster the initiative, says Ron Jordan, managing director, chief data officer at the DTCC. In fact, the blessing from the Global Legal Entity… Read More >>
ESMA Urges Action on MiFID II Data Reporting
The European Securities and Markets Authority (ESMA) has issued a briefing note on the transaction reporting requirements for the Markets in Financial Instruments Directive (MiFID II), which sets out a detailed timetable of the deadlines. The Briefing Paper refers to the technical requirements and templates for data reporting, which ESMA published in October 2016. The… Read More >>
Global Markets to Brace for E.U. Regs in 2017
(FTF News is sampling the flurry of securities industry predictions that are hitting as 2017 becomes reality and 2016 starts to fade. This review of predictions will be presented in three parts this week. This is the first installment (click here for second installment and here for third installment) and it focuses on what may… Read More >>
