Trading venues seen as easiest targets for Esma supervision
Platforms do not pose systemic risks for member states and are already subject to consistent rules
Industry sources think trading platforms are the regulated entities most likely to be brought under centralised supervision by the European Union, as part of long-running efforts to energise the bloc’s capital markets.
“I think venues are probably the easiest, because we don’t have the prudential aspects that the post-trade firms do and we don’t have the retail element in the same way as funds do,”
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