Cross-border trading
Imperfect harmony: industry balks at EU foreign venue rules
Proposal could force non-EU platforms to choose between following Mifid II or ditching EU firms
Industry fears EU ‘Google tax’ will hit trading venues, CCPs
Broad wording of digital services tax could place market infrastructure in firing line
Risk of no-trade lists as banks leave Brexit plans late
European clients could face bottleneck of contract transfer requests from relocating banks
Day one of a no-deal Brexit: swaps and chaperones
Banks, trading platforms, repositories tee up EU entities – and dread the repapering crunch that would follow
Q&A: CFTC’s Giancarlo on the race to overhaul cross-border rules
New Sef rules imminent, but deference to foreign regulators may not be completed by 2020
Dealers sour on Mifid’s systematic internaliser label
SI decisions will take account of tougher pre-trade rules, client demand and Brexit
Brexit threatens some swaptions trades
Force majeure clauses could be triggered on physically settled contracts
Japanese cross-border claims on European countries hit all-time high
Loans to entities in developed European countries outpace those to other western nations in Q1 2018
Questions remain on scope of Mifid extraterritoriality
Global firms confused about reach of trading obligation and best execution rules
Asian NDF fixings threat signals yet another deadline drama
Extraterritorial reach is not new to region, but EU Benchmarks Regulation poses real risks
French ‘bombshell’ would gut Mifir equivalence, say lawyers
Leaked non-paper would also clamp down on reverse solicitation for EU wholesale clients
US bank swaps books rebound after G-Sib reckoning
Total OTC derivative notionals across eight G-Sibs grow $28 trillion in first quarter
Maijoor defends late LEI relief amid industry frustration
Esma chairman says early Mifid relief would have removed incentives to register LEIs
EU shuts door on foreign electronic access providers
US FCMs could be barred from providing direct electronic access as member states bow to Esma
Esma navigates a Brexit maze over equivalence
Regulator offers share-trading reprieve for EU firms without relaxing rules for UK
Reporting rules key for EU-US swaps trading equivalence
Market participants welcome outcomes-based approach, but need clarity where rules differ
SGX, HKEX expect to be among first wave of Mifid II equivalence
Hong Kong should also benefit from acceleration in process of allowing trading on non-EU venues
EU-US swaps trading equivalence tipped for November
Hong Kong and Singapore unlikely to be deemed equivalent for start of Mifid II
Industry pushes CFTC to prioritise cross-border clarity
Approaching Mifid II deadline adds urgency to Giancarlo’s overhaul of Sef rules
Ashurst non-netting opinion on China splits lawyers
EU banks using opinion for margin exemption, at possible cost of capital savings
EU regulators stymied by Esma on electronic access
Treatment for third-country firms unknown until European Commission makes equivalence decision
Power struggle: EU battles for supervisory convergence
European Commission’s review of the three supervisory authorities fraught with difficulties
EU regulators consider Mifid electronic trading lock-out
Moves to restrict third-country firms from offering direct electronic access blamed on Brexit
Esma turns the screw on direct electronic access
Guidance thwarts narrower definition adopted by Eurex to help third-country clients