Tag: ESMA
A tale of two tapes: Consolidating the consolidators
Market participants will be hit with simultaneous, major technical demands in late 2025 and early 2026 as both the EU and UK update transparency...
ESMA’s Active Account Requirements proposals rebuked by FIA and ISDA
The futures industry association (FIA) as well as the international swap dealers association (ISDA) have published their concerns about the added burden and impact...
ESMA’s CTP selection process begins
ESMA has initiated the selection process for the European bond consolidated tape provider (CTP).
Potential candidates must submit requests to participate in the first selection...
ESMA clarifies CTP exclusion criteria documents
ESMA has clarified the documents that firms bidding to be consolidated tape providers (CTP) must provide during the application process.
In the first stage of...
US vs Europe: The transatlantic divide for corporate bond traders
The DESK examines the different sizes, protocols and feedback traders can use on each side of the Atlantic to execute corporate bond orders.
While US...
Do regulators understand ‘best execution’ in corporate bond markets?
What is best execution in bond markets?
In fixed income a best execution process matches up trade metrics to the investment parameters.
“Trading is simply how...
IDX 2024: Divergence or convergence for EU and UK regulation?
Regulation is an ever-changing beast; panellists at this year’s International Derivative Expo conference provided updates on new mandates, progress being made and how implementation...
Meet the consolidated tape contenders
Europe’s development of a consolidated tape for trading data now has clear front runners and benefits.
Three firms have confirmed they will compete to be...
Viewpoint: Knowing the boundaries
Interview with Tim Whipman, head of business development at TransFICC
In February this year ESMA published its Opinion on the Trading Venue Perimeter, which provides...
Will the EC ban electronic bilateral bond trading?
The broadening definition of ‘multilateral’ is at risk of capturing all trading if traders do not speak out.
The European Securities and Markets Authority (ESMA)...
