RRIT-Liquidity Fragmentation

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Thomson Reuters Urges Community Approach to Consolidated European Data

Thomson Reuters has added to the debate on a consolidated European order book data feed similar to the US Consolidated Tape Plan, with a white paper that sets out proposals for improving the compilation of consolidated data, but falls short of suggesting that a single consolidated tape is the answer for all market data users.

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02 Feb 2010

CESR Publishes Update on Assessment of the Proposals for MiFID Pre-trade Transparency Waivers

This year will see a wide scale review of MiFID, as promised by ex-internal market and services commissioner Charlie McCreevy last September (see our coverage here), but, in the meantime, the Committee of European Securities Regulators (CESR) has published an update on assessment criteria for MiFID pre-trade transparency waivers. The update follows the joint process launched by the regulator in February last year and includes information on new assessments made at CESR level regarding an application for a waiver to be granted on the basis of the MiFID Implementing Regulation that CESR considered not to be compliant with MiFID.

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11 Jan 2010

CFA Institute Provides Research in Support of its Consolidated Tape Campaign

The post-MiFID market fragmentation has resulted in very little impact on the quality of the price formation process for equities traded in the European markets affected, however, attempting to obtain a complete and clear picture of market prices remains challenging. This is according to a recent piece of research carried out by the Chartered Financial Analyst (CFA) Institute Centre for Financial Market Integrity, which has taken up the mantle of champion for a consolidated tape for European equities.

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07 Dec 2009

CESR Provides Slew of Updates on MiFID Protocols and New Consultation Paper

The Committee of European Securities Regulators (CESR) has recently issued a series of updates to MiFID protocols and a new consultation paper on the subject of investment advice. The protocol updates concern recent amendments to MiFID including: rules surrounding the calculation and publication of MiFID market transparency calculations, the supervision of branches and MiFID passport notifications. All of these documents are aimed at providing member states with more guidance around increasing transparency in the fragmented European marketplace.

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19 Oct 2009

B-next Extends Data Reach with Interactive Data Agreement, Extends Ambitions to UK

Compliance and regulatory reporting platform vendor b-next has recently signed an agreement with Interactive Data under which the data vendor will provide global pricing and reference data to feed b-next’s MACOC software solutions. The deal is part of the German vendor’s ambitions to crack the UK market and should help it in the effort to streamline and simplify compliance processes via the provision of consolidated data, says Wolfgang Fabisch, founder and CEO of b-next Group.

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07 Oct 2009

Costs Have Come Down But Cross Border Activity in Europe Remains a Costly Business, According to Commission and Oxera Report

The costs of trading and clearing and settlement have fallen in general as a result of the introduction of MiFID and the Code of Conduct, but some problems remain to be tackled. There is significant cross border activity throughout Europe and, in general, the cost of this activity is higher than that for domestic transactions, according to a report commissioned by the European Commission and conducted by Oxera. However, this difference can largely be attributed to economies of scale, as investors investing in cross border markets will generally have lower levels of activity than domestic investors, says the report.

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21 Jul 2009

LSE’s New Fee Structure: Yet Another Win for MiFID?

This week’s announcement that the London Stock Exchange (LSE) has revised its pricing scheme for trading on its UK order books, cutting fees by approximately 9%, is further proof of MiFID’s impact on the traditional exchange business. The boom in multilateral trading facilities (MTFs) since the introduction of MiFID in November 2007 has forced those trading venues on the more traditional end of the spectrum to gradually slash prices and fight harder for market share.

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02 Jul 2009

ING Expands Use of Quartet FS' In-Memory Analytics Solution Across the Bank

Serge Minne Named CEO of Wolters Kluwer Financial Services' FRSGlobal Unit

Martin Porter & Adrian Guest Join b-next to Head Up International Expansion

Areion Asset Management Implements Imagine Software for Risk Management

SimCorp Dimension to Support Global Asset Management's Investment Operations in Toronto, Chicago and Milwaukee

Thailand's Tisco Asset Management Selects Charles River IMS

Ex-Thomson Reuters Risk Division Launches as Turaz

Regulatory and Legal Veteran Jonathan Feigelson Joins Reval Board

Ecobank Deploys Oracle FLEXCUBE and Oracle Financial Services Risk Analytics Across 30 Countries in Africa

MSCI Launches MSCI ESG Sovereign Ratings

b-next Selects StreamBase CEP for CMC:Suite to Enable Millisecond Market Surveillance in Response to Global Regulatory Pressure

MSCI Launches New Barra Global Equity Model

IDEALINVENT and FinArch to Partner for Sales and Delivery

Algorithmics Adds Axioma's Multi-Factor Equity Models to Algo Risk Service

Lime Brokerage, A Wedbush Company, Announces Limedirect - the World’s Fastest Pre-Trade Risk Management Solution

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