Europe News
The latest industry and regulatory news affecting Europe and the U.K.
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Europe's algorithmic trading rules come under the microscope
FIA European Principal Traders Association (FIA EPTA) hosted a webinar on 24 February that reviewed European algorithmic trading rules under MiFID II and discussed suggestions put forward by the European Securities and Markets Authority (ESMA) for potential changes to the regime. Rules around algorithmic and high-frequency trading, as well as various aspects of market microstructure, form an important cornerstone of the MiFID II rulebook. In December 2020, ESMA published a consultation paper, evaluating the algorithmic trading regime ahead of the upcoming MiFID II Review by the European Commission. ESMA also made suggestions for potential new additions to the regime.
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Europe's algorithmic trading rules come under the microscope
FIA European Principal Traders Association (FIA EPTA) hosted a webinar on 24 February that reviewed European algorithmic trading rules under MiFID II and discussed suggestions put forward by the European Securities and Markets Authority for potential changes to the regime.
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Europe's algorithmic trading rules come under the microscope
Principal trading firms discuss ESMA's latest algorithmic trading proposals
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FIA responds to IOSCO consultation on market data
On 26 February, FIA responded to an International Organization of Securities Commissions (IOSCO) consultation on access to market data in secondary equity markets.
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FIA EPTA response to the IOSCO consultation on Market Data in the Secondary Equity Markets (CR03/2020)
The FIA European Principal Traders Association (FIA EPTA) welcomes the opportunity to respond to the International Organization of Securities Commissions (IOSCO) Consultation Report on market data in the secondary equity markets. In today’s markets, market data is of crucial importance for a wide range of investors and market participants – including FIA EPTA member firms.
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FIA highlights CCP margin procyclicality concerns to European Regulators
FIA today presented to the European Securities and Markets Authority (ESMA) on the issues experienced in the spring of 2020 when high volatility and procyclicality of margin requirements were experienced in the global clearing system.
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FIA EPTA response to the EBA Discussion Paper on management and supervision of ESG risks for credit institutions and investment firms
FIA EPTA is committed to supporting policymakers in ensuring the success of the sustainable finance project at all levels of the capital market ecosystem. The consultation that the EBA has published mainly focuses on ESG risks stemming from clients and counterparties. FIA EPTA members deal with regulated parties as counterparties, perform additional screenings that may already include the necessary ESG elements, and do not have clients or manage funds, but trade on their own account and at their own risk.
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FIA, FIA EPTA and ISDA offer joint response to the European Commission targeted consultation the CSDR review
On 2 February 2021, ISDA, FIA and FIA EPTA submitted a joint response to the European Commission’s (EC) targeted consultation on the review of the settlement and central securities depositories regulation (CSDR).
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FIA EPTA, FIA and ISDA offer joint response to the European Commission targeted consultationon the CSDR reviw
On 2 February 2021, ISDA, FIA and FIA EPTA submitted a joint response to the European Commission’s (EC) targeted consultation on the review of the settlement and central securities depositories regulation (CSDR). The Associations outline their members’ concerns with regards to detrimental effects arising from the application of the CSDR mandatory buy-in regime for derivatives markets. The Associations request the European Commission and the co-legislators to clarify that the mandatory buy-in requirements of the CSDR settlement discipline regime do not apply in the context of margin transfers, physically settled derivatives and emission allowances.
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FIA responds to ESMA on market data
FIA responded to the ESMA Consultation Paper on draft guidelines on the MiFID II/MiFIR obligations on market data from the perspective of market data users.
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