MiFID II

MIFID II Transitional Transparency

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ESMA have published Transitional Transparency Calculations for a number of asset classes. These calculations define which asset classes and instruments are deemed liquid for the purposes of making trade data public as of 3rd January 2018. Anything deemed “illiquid” will likely have a two-day lag applied to the trade record being made publicly available. The transitional […]

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Transforming Trade in the EU Derivatives Market

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MiFID II, and its accompanying regulation MiFIR, comes into force for EU member states on 3 January, 2018.

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Asset managers and best execution: obtaining the best possible results from MiFID II

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The end is in sight.  In under six months, the deadline for MiFID II implementation will have passed.  Since its legislative inception, JWG has iterated the importance of forward planning and anticipating the major changes under MiFID II.  In concrete terms, our MiFID Implementation Group (MIG) meetings have provided the platform for senior managers from

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JWG announce 12 July MiFID Webinar

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In our previous article we announced some of the key findings from our recent buy-side focused MiFID survey. Now we are pleased to announce a webinar on 12 July to review and analyse the results in more depth with a panel of experts. The webinar will aim to present new survey findings to help inform

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ESMA Consults on Trading Obligation Under MiFIR

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On 19 June 2017, ESMA published a consultation paper on the trading obligation for derivatives, as detailed in Articles 28 and 32 of MiFIR.[1]  The closing date for responses is 31 July 2017. By way of reminder, derivatives that are subject to the trading obligation under MiFIR may only be traded on: A Regulated Market; […]

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Drowning in MiFID II Data – CEPS Seminar featuring Elena Gaetini

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The June 28 panel, “Drowning in MiFID II Data”, which was part of a MiFID II seminar sponsored by CEPS in Brussels, featured Elena Gaetini of RegTek.Solutions.

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90% of buy-side firms are at risk of non-compliance by MiFID II deadline, JWG survey finds

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90% of buy-side firms believe they are at either high or medium risk of not being compliant by the January 2018 deadline, despite this date having already been delayed by a year. Significantly, with just over six months to go, a large amount of the industry appears to be overstretched and under-prepared. It is imperative

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MIFID II: ESMA Trading Obligation

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ESMA published their latest Consultation on Trading Obligation for Derivatives under MIFIR on 19th June 2017. EUR, USD and GBP swaps are deemed liquid and will be covered by the Trading Obligation under the current proposal. JPY, NOK, SEK and PLN swaps will continue to be covered by the Clearing Obligation but will not be […]

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Paying for research under MiFID II

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The topic of research under MiFID II has been a popular discussion lately amongst top firms at JWG’s MIG meetings. MiFID II demands that firms be transparent to investors about how they plan to pay for research and the value which they place on it, which has led managers to think about how much they

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The quest for a transparent global financial market

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One of the many weaknesses that the financial crisis exposed was the feeble transparency framework in financial markets.  In response, MiFID II and MiFIR built on the regulatory agenda of the G20 by aiming to strengthen the transparency framework of markets in financial instruments, including OTC trading. Building on MiFID I, the second incarnation extends

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