CESR unveils new Mifid technology
CESR announces new Mifid-compliant transaction reporting and internalising systems
BRUSSELS – The Committee of European Securities Regulators (CESR) has unveiled new systems and databases compliant to help meet its Markets in Financial Instruments Directive (Mifid) obligations. CESR aims to facilitate the flow of transaction reports, to publish a list of systemic internalisers, and to encourage market transparency and integrity across the EU.
With CESR’s new transaction reporting system (TREM) up and running, all CESR members are connected, to allow constituent supervisory authorities to monitor investment behaviour and market integrity.
The newly published list of systematic internalisers is designed to give the market information on firms engaged in systemic internalisation in Europe, which will be subject to regular review, in accordance to Article 34 of Mifid.
CESR has admitted its current list is incomplete and that more time is required for the process. This is due to the likelihood that investment firms will decide to become systematic internalisers but be slow to communicate their decisions to the relevant national supervisory bodies under Article 21 of the Directive.
The new Mifid-compliant additions complement the two databases CESR released in July and October this year to aid transparency and market transition to Mifid requirements. Covering all shares trading on the regulated markets, these two databases identified liquid shares and listed identifiers of regulated markets, multilateral trading facilities and other counterparties.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Industry calls for major rethink of Basel III rules
Isda AGM: Divergence on implementation suggests rules could be flawed, bankers say
Saudi Arabia poised to become clean netting jurisdiction
Isda AGM: Netting regulation awaiting final approvals from regulators
Japanese megabanks shun internal models as FRTB bites
Isda AGM: All in-scope banks opt for standardised approach to market risk; Nomura eyes IMA in 2025
CFTC chair backs easing of G-Sib surcharge in Basel endgame
Isda AGM: Fed’s proposed surcharge changes could hike client clearing cost by 80%
UK investment firms feeling the heat on prudential rules
Signs firms are falling behind FCA’s expectations on wind-down and liquidity risk management
The American way: a stress-test substitute for Basel’s IRRBB?
Bankers divided over new CCAR scenario designed to bridge supervisory gap exposed by SVB failure
Industry warns CFTC against rushing to regulate AI for trading
Vote on workplan pulled amid calls to avoid duplicating rules from other regulatory agencies
Bank of Communications moves early to meet TLAC requirements
China Construction Bank becomes last China G-Sib to release TLAC plans