MiFID II

MiFID II Research Rules: What is the Cost?

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With only two months left until implementation, MiFID II research rules have been one of the most discussed issues within the industry.  Under the new rules, investment firms will no longer be able to accept research as a non-monetary benefit, unless a firm can prove that the research passes the quality enhancement test and that

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Trade Reporting – The gift that keeps on giving

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by Alan McIntyre, Industry Relations Lead

I attended an industry event on the EMIR RTS ReWrite recently and the main presenter was discussing the continuing pace of change. The changes being discussed include the RTS ReWrite, MiFIR, SFTR and the significant scope of these changes. He quipped that, “as a contractor once said to me, it’s the gift that keeps on giving!”. I smiled to myself as I was reasonably sure that contractor was me.

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Public Hearing RE: Examining the 2017 Agenda for the Commodity Futures Trading Commission

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Congressman Collin Peterson cited our recent blog, “MIFID II transparency will leave us in the dark”, during a committee hearing in Washington. The session in the public hearing was recorded and is available below. The Clarus citation is around 24m02.

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Latest RegBeacon published

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As we head into the final MiFID II implementation straight we publish our latest RegBeacon, but our message to the industry is that the ‘end’ is far from sight. We are becoming firm believers that there will be more work done to deliver this set of changes after the due date, than in the run

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MiFID II start and transposition

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With less than three months to go until the start of MiFID II, on 3rd January 2018, there are many stories of struggles to be ready.

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MIFID II – ESMA Finalises the Trading Obligation

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ESMA have published the final report for the Trading Obligation. Interest Rate Swaps in EUR, GBP and USD will have to be traded on venue from 2018. There has been convergence with the swaps that are currently MAT in the US, potentially simplifying the global regulatory regime. 8y and 9y EUR swaps versus EURIBOR 6m […]

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MiFID II Update: Trading Obligation to Commence ‘Early’ in 2018

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Introduction On 28 September 2017, the European Securities and Markets Authority (“ESMA”) submitted its final report containing draft Regulatory Technical Standards (“RTS”) on the trading obligation for derivatives under MiFIR with respect to interest rate swaps (“IRS”) and credit default swaps (“CDS”) to the European Commission (“EC”).  The EC has three months to decide whether […]

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MiFID II Bond Transparency Calculations

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As Jan 3, 2018 is now just three months away, I wanted to update my February 2016 article MiFID II and Transparency for Bonds, in particular as ESMA have now published Transparency Calculations and compare these to transparency in the US Corporate Bond market with FINRA TRACE. Background Post-trade transparency and pre-trade transparency for Bonds is meant […]

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News Release: SmartStream and RegTek.Solutions Join to Offer Independent, Turnkey Reconciliation Solutions for Global Regulatory Reporting

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 SmartStrem RegTek

NEWS RELEASE

New York, October 4, 2017

SmartStream and RegTek.Solutions Join to Offer Independent, Turnkey Reconciliation Solutions for Global Regulatory Reporting

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Commodity derivatives: all you need to know about position reporting under MiFID II

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With MiFID II’s implementation date of 3 January 2018 fast approaching, investment firms need to prepare for the changes that will be brought about by the EU’s flagship regulatory policy. All-encompassing in its scope, MiFID II will implement regulatory changes that will impact the trading of all financial instruments. In an attempt to fulfil the

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