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April 24, 2014

Weekly Roundup | Best of the Web | 22 April 2014

Super Tuesday for EU Bank Regulation

Europe’s biggest financial rulemaking spree since the creation of its single market more than 20 years ago reached its finale on Tuesday with the adoption of a slew of landmark reforms designed to make banks safer and financial markets more transparent. FT: Super Tuesday for EU Bank Regulation.

 

MiFID Enters Level Two Following Parliament Approval

The European Parliament passed updated rules for the Markets in Financial Instruments Directive, dubbed MiFID II, last night.

 

Any Port in a Storm?

With the European Parliament’s formal adoption of MiFID II in yesterday’s plenary session, the next fundamental industry overhaul is on the horizon. Regulation Matters: Any Port in a Storm?

 

US Regulators to Monitor London Over-The-Counter Swaps

Part of London’s lucrative over-the-counter swaps market is set to come under direct US regulatory oversight as dealers in the UK capital wrestle with meeting tighter rules for overseas swaps dealers accessing US markets. FT: US Regulators to Monitor London Over-The-Counter Swaps.

 

CFTC Told EU Platforms Not to Seek Sef Equivalence

After realising an overhaul of its Sef-equivalence framework was needed, the CFTC told European platforms not to apply. At the same time, the FCA was working through rules with UK venues. Risk: CFTC Told EU Platforms Not to Seek Sef Equivalence.

 

SEF Rules Inhibit Cross-Border Trades

Recent regulatory rulings have resulted in a shift in trading in euro- and U.S. dollar-denominated interest rate swaps. Markets Media: SEF Rules Inhibit Cross-Border Trades.

 

'Flash Boys' in a Nutshell

The PR bluster around the new Michael Lewis book ‘Flash Boys’ is deliberately confusing, yet almost no-one seems to have read it. With the FBI investigating high-frequency trading (HFT), the issues that the book raises are clearly very serious. Finextra: 'Flash Boys' in a Nutshell.

 

EU Applies 8% Haircut to Margin-Currency Mismatches

European regulators confirm haircut will apply to both initial and variation margin, threatening viability of industry's new standard credit support annex; a replacement is in the works. Risk: EU Applies 8% Haircut to Margin-Currency Mismatches.

 


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