Firms publishing trade data might not be adhering to new European Union financial market rules, according to a letter written by the chairman of the European Securities and Markets Authority (Esma) and seen by Risk.net.
The firms, known as Approved Publication Arrangements, play a crucial role in the new regime by receiving and disseminating data. They are required to publish this data in a format that is usable by other market participants, thus improving transparency.
“From our first observa
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