European Securities and Markets Authority (Esma)
Regulators need to go back to fundamentals on fund risks
Policy-makers need to identify risks posed by open-ended investment funds more precisely
EU trading venue definition could crush innovation, fear bank execs
Widening scope of regulated firms could undo progress in fixed income electronification and increase costs
Banks, CCPs protest Esma’s ‘prescriptive’ procyclicality rules
Dealers welcome model transparency push, but call for greater say on methods to combat spikes
In U-turn, EC extends euro clearing consultation deadline
Responses to over 200 questions on the future of euro clearing must now be submitted by March 22
Don’t impose blanket margin model rules, say BoE advisers
Focus instead on outcomes and costs and factor in different clearing membership, say Murphy and Vause
Banks balk at SEC backloading rule
Reporting requirements for expired security-based swaps “not justified”, dealers say
People moves: Ice rings changes, new CFTC appointees, and more
Latest job changes across the industry
Esma calls for more powers over UK CCPs
Sources say Emir 3.0 could be on the way with Esma a big winner
You’ve got a Frandt: banks set to port EU clearing rules to UK
FCMs set to adhere to higher standard on commercial terms for swaps clients
Top venues mull offering joint EU consolidated tape
Market participants worry venue-led CT is designed to protect high-cost data services
BoE hints at retaliation if EU derecognises UK clearing houses
Warning follows release of new BoE proposals for assessing foreign clearing houses
Defiant ECB urges ‘further work’ on clearing relocation
Policy-makers moot changes to Emir to tackle systemic risks of third-country CCPs
People moves: Citi nabs JPM and Citadel staff, and more
Latest job changes across the industry
Firms doubt benefits of EU Mifid best execution reform
Esma proposal retains unpopular aggregated reporting; bankers want more cost-benefit analysis
EC shelves report on relocation of euro clearing
Consultation revealed a deep reluctance among banks to shift clearing to EU CCPs
EU considers postponing CSDR’s mandatory buy-ins
Industry faces unnecessary compliance costs if rules are enforced, despite being under review
UK tipped to take lead on consolidated tape provision
Fixed income focus could pip European Union in race to provide market data golden source
EC drafting proposal for derivatives consolidated tape
Commission official says beta version ready for testing in 2023 will also include equities, bonds and ETFs
EU funds shudder at Mifid transaction reporting plan
Repeated Esma recommendations would increase costs of single portfolio management services
Swipe left: repo reporting no match for Brexit, or collateral
A happier start than Emir, but SFTR honeymoon is over now that trades report separately in UK and EU
Esma plan ‘won’t help’ fix Mifid swaps data problem
Dealers say proposal to force disclosure of all big-bank OTC derivatives trades won’t improve data
Euro swaps clearing showdown pits banks against Brussels
Forcing swaps clearing to Frankfurt would play into hands of US rivals, say European dealers
EU funds levered up over 2019
Gross hedge fund leverage came to 6,450% of NAV
People moves: facing the funds fallout music, CS changes chairs, and more
Latest job changes across the industry