The European Securities and Markets Authority (Esma)
DORA stalls over identifier dispute
A disagreement over how to classify third-party tech providers on a reporting form known as the “register of information” has held up preparations for the highly anticipated operational resiliency rule in Europe.
French regulator turns up the heat with spot checks on market data providers
The AMF’s move has left industry observers wondering if this will lead other regulators in Europe to follow suit.
Hurry up and wait: EU debates potential models for ‘essential’ consolidated tape
As the legislative debate surrounding a future European consolidated tape for equities takes on increased urgency, market participants and interested parties are beginning to weigh in with their visions of a successful tape.
Industry participants: ‘Digital Token Identifier’ aims to increase interop, usage
While some trading firms are welcoming the use of a new non-proprietary code for identifying digital tokens, the onus will be on local regulators to enforce its adoption.
UK divergence on trading venue perimeter threatens more costs and a complex compliance landscape
The FCA is in the middle of a tug of war over the definition of a trading venue. Will it diverge in a bid to present itself as a competitive market internationally or align with its EU partners?
This Week: Six/Sustainalytics, Nice Actimize, SmartStream, and more
A summary of the latest financial technology news.
EU trading venue definition could crush innovation, say bank execs
Firms worry that regulating a broader net of firms could unravel progress in fixed income electronification and raise costs for market participants
New regulation forces UK banks to scrutinize cloud
Firms say changing SLAs and getting required information from vendors like AWS, Azure and Google Cloud is a heavy burden.
People Moves: Cboe, Esma, ASIC, State Street, NeoXam, and more
A look at some of the key people moves from this week, including Erik Thedéen (pictured), who has been appointed vice chair of Esma.
Top venues mull offering joint EU consolidated tape for bonds
Market participants worry a venue-led CT could be of low quality, with CT data used to create expensive additional products.
Definition of a trading venue: Reg review risks ensnarling tech vendors
Industry participants are divided over the definition of a trading venue and how regulators should revise the regulatory framework.
UnaVista SFTR closure casts doubt on viability of reg reporting
The decision to shutter the service is another blow to the industry and the business case of reg reporting under SFTR.
New entrants want to feed bond market’s hunger for data
In the absence of a consolidated tape for debt securities in the EU, vendors with different approaches to distributing fixed-income market data are emerging.
EC drafting proposal for derivatives consolidated tape
Commission official says beta version ready for testing in 2023 will also include equities, bonds and ETFs
Esma to ink deal for big data capabilities
The regulator is ditching its legacy architecture to cope with massive volumes of reported data and new supervisory responsibilities.
Esma: Firms struggled with trade data porting after CME wind-down
The EU regulator had to coordinate efforts with local NCAs to clamp down on failures made by counterparties to meet Emir guidelines for porting data.
EU Firms Seek Clarity on Tech Requirements for Incoming Cloud Guidelines
As Europe prepares for a new batch of outsourcing rules, some firms are looking for answers on how to test exit strategies and mitigate concentration risk.
Esma Guidelines Call for Full Audits of Cloud Providers
The regulator is consulting on outsourcing contract guidance that would give firms and supervisors access to the books and premises of providers.
Scrutiny and Frictions Follow EMS Vendors into Fixed Income
Aggregators are facing resistance from venues and attracting the attention of regulators.
TISA Assesses Vendors for Mifid II Reporting Solution
The regulatory reporting utility product for fund managers is targeted to go live by mid-2020.
Industry Steps Up Calls for European Consolidated Tape
Traders in Europe face rising data acquisition costs and increasing regulatory reporting pressures argue that a pan-European consolidated tape is long overdue.