Liquidnet: Swiss Exchange a winner after EU equivalence loss
The loss of equivalence to Swiss markets on July 1st and the introduction of the Swiss Ordinance have already led to a change in liquidity formation and the immediate winner…
Read More FT: IHS Markit advises EU executive on consolidated tape revenue plan
European policymakers are working on ways to break the deadlock with stock exchanges and encourage them to share their highly prized trading data. One potential solution: pay them. Over this…
Read More Reuters: EU gives market benchmark compilers two-year grace period
LONDON (Reuters) – The European Union has agreed to give the financial sector an extra two years to comply with new rules aimed at avoiding a repeat of attempts to…
Read More SB: EU aims for supercomputing leadership with €9.2bn program
The €9.2 billion ($10.5bn) Digital Europe programme will put the EU in a “better position” than the US and China in high-performance computing (HPC), said Khalil Rouhana, deputy director general…
Read More ASIFMA: Asia struggling to meet EU Benchmarks Regulation
ASIFMA, the financial industry’s leading regional trade association, today released a new report “The EU Benchmarks Regulation and Asia: Hurdles Rise as the 2020 Deadline Nears.” The report was co-authored…
Read More FT: EU pledges access to UK clearing houses in no-deal Brexit
Brussels has responded to financial industry calls for continued access to London’s capital markets by providing reassurance that EU groups will temporarily be able to use crucial derivatives clearing services…
Read More European Commission plans to endorse SFTR
The key objective of SFTR is to improve the transparency of the securities financing market. In particular, market participants are required to report securities financing transactions (SFTs) to a central…
Read More Risk: EU Considering Moving Leverage Ratio Reporting From Quarterly to Daily
The European Parliament wants to close a loophole in leverage-ratio reporting by making banks calculate the ratio daily, instead of quarterly. The switch is intended to reduce volatility by curbing…
Read More Brexit white paper asks EU for coordinated approach to financial services
As the UK leaves the EU and the Single Market, it recognises the need for a new and fair balance of rights and responsibilities. The UK can no longer operate under…
Read More European Commission launches the EU Blockchain Observatory and Forum
The Commission launched the EU Blockchain Observatory and Forum with the support of the European Parliament. The observatory will highlight key developments of the blockchain technology, promote European actors and…
Read More Reuters: EU seeks to soften rules for tackling failing banks
Trading firms could withdraw deposits held at a failing bank sooner than originally planned under draft European Union rules, a proposal from the bloc’s president showed. The aim of the draft…
Read More The Hill: EU setting financial regulation ‘gold standard’ as US takes back seat
US regulators, preoccupied with modifying the decade-old, hastily put together Dodd-Frank regulatory regime, have let their guard down, potentially leaving the European Union’s (EU’s) fast-tracked regulatory regime to dominate US …
Read More Collateral scarcity premia in euro area repo markets
Using bond-level data from both repo and securities lending markets, this paper introduces a new measure of collateral reuse and studies the drivers of the cost of obtaining high-quality collateral, i.e.…
Read More Basel Committee report card on LCR in China, EU, and US
Today the Basel Committee on Banking Supervision published reports assessing the implementation of the Liquidity Coverage Ratio (LCR) in China, the European Union and the United States. Overall, the LCR…
Read More EU approves money market reform rules
EU rules are to be introduced on money market funds, aimed at supporting the role that the €1 trillion market plays in financing the economy. On 16 May 2017, the Council adopted a regulation…
Read More Reuters: EU to ease derivatives rules, holds fire on euro clearing changes
The burden of new regulation for derivatives markets would be eased and competition increased under proposals from the European Union’s executive, a document seen by Reuters showed, which omitted any…
Read More ESMA advises European Commission on fees for trade repositories
The European Securities and Markets Authority (ESMA) has published today its final technical advice to the European Commission regarding supervisory fees for Trade Repositories (TRs) under the Securities Financing Transactions Regulation (SFTR).…
Read More European Supervisory Authorities highlight risks for the EU financial system
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) has published its spring 2017 Report on risks and vulnerabilities in the European Union’s financial system. The Report…
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European news roundup: Basel III, FTTs and Brexit (Premium)
We were pleased to see two points of sanity emerge from Europe this week. Both had the themes of scaling back regulatory overreach and seeking to strike a realistic balance between a…
Read More Jonathan Hill resigns from European Commission
Like many people here and in the UK, I am obviously very disappointed about the result of the referendum. I wanted it to end differently and had hoped that Britain…
Read More Bloomberg: EU delays non-cleared derivatives rules to mid-2017
The European Union will push back the completion of collateral rules for the multi-trillion-dollar swap market to the end of the year, breaking with U.S. authorities who have set a…
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SFT-R compliance and operational readiness (Premium)
The EU’s Securities Finance Transactions Regulation (EU Regulation 2015/2365, or SFT-R) is now officially “live”, as of January 12, 2016. We spoke with European market participants over the last couple…
Read More Bloomberg: separating EU investment and retail banking may not be necessary
Updated on October 29, 2015 — 2:32 PM EDT Bank Separation May Face Higher Hurdles in EU Lawmakers’ Deal Breaking up European Union banks would be tougher under a compromise…
Read More Is the EU really thinking about restricting collateral chains? Boy, we hope not….
An August 22, 2013 article in Bloomberg “EU Said to Weigh Curbs on Collateral Asset Reuse in Repos” by Jim Brunsden & John Glover certainly caught our attention. Quoting from the article:…
Read More Betting on a trade repository in securities lending and repo
While nothing is certain in global financial regulations, the odds are getting better that European and US regulators will both ask the industry for a trade repository in securities lending.…
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