Esma Struggles to Define HFT

The European Securities and Markets Authority said high-frequency trading accounts for between 24%  and 43% of value traded on European Union exchanges, but the regulator said…

Banks Struggle With Risk Data Regs 

A significant number of banks are unlikely to meet the Basel regulations for effective risk data aggregation and risk reporting which come into force in…

ECSDA: T+2 Settlement Smooth

The number of failed transactions did not increase when the Eurozone last month shortened its settlement cycle by one day, according to the European Central…

OPINION: Mark Twain and Barclays LX

Mark Twain famously said “reports of my death are greatly exaggerated.” If Twain were alive today, could he say the same about Barclays LX dark…

Exchange Technology in Focus

While some market participants and observers believe automation and speed are over-emphasized in exchange trading, there is broad agreement that on balance, technology has massively…

OTC Swap ‘Futurization’ Parsed

The ‘futurization’ of the over-the-counter swap market is progressing slowly, and how much the process accelerates over the next year will depend on factors such…

‘Tick Size’ Pilot Needs Streamlining, STA Says

A proposed pilot program to deepen liquidity in some small-capitalization stocks by widening minimum quoting and trading increments has conceptual merit, but it needs streamlining,…

MiFID II Vexes European Buy Side 

Fund managers will to change their workflows to meet best execution requirements under new trading rules in the European Union. Anthony Kirby, director and head…

Sapient Warns on Trade Reporting 

Sapient Global Markets, the consultancy, warned that regulators will be unable to identify systemic risks until there are global standards for trade reporting. In February,…