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Latest on Regulation
Mifid’s pre-trade transparency is ‘a failed experiment’
Market participants say benefits of altering pre-trade transparency rules are small
EU’s Brexit clearing grab slow to lift off
Clearing members say clients aren’t transferring material volumes from LCH to Eurex rapidly
‘Improving’ Mifid post-trade transparency splits markets
Mooted changes to Europe’s transparency regime are dividing markets – largely along functional lines
Latest
Quotes
The UK will not be implementing the EU’s new settlement discipline regime, set out in the CSDR. UK firms should instead continue to apply the existing industry-led framework
Rishi Sunak, UK Chancellor of the Exchequer
Esma came out with those stress testing guidelines, which were pretty stringent, which we thought maybe were going too far. Looking back at it, some of them are very useful
Michael Derwael, MFS Investment Management
The Commission is aware of the forthcoming expiration of deferred dates with regard to equity options and intra-group transactions…. We are currently reflecting on how best to address these deadlines
European Commission spokesperson
Editor's Choice
Investors at the gates: MMF reforms fail the Covid test
After MMF rescues return, regulators urged to rethink rules on gates and sponsor support
Big Figure
Not now, buy-ins
The coronavirus pandemic increased market volatility and drove up settlement fails due to the operational challenges of remote working, intensifying fears that EU rules requiring mandatory buy-ins where trades fail could make market liquidity even worse.
Read the full article7 days in 60 seconds
Covid capital, SA-CCR and problems with post-Libor protocol
The week on Risk.net, July 4-10, 2020
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Our Take
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