Sun, Jun 26, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

EU member states propose a harder line on dark pools in new agreement

Tuesday, June 18, 2013

Bailey McCann, Opalesque New York: According to a statement just released by the Irish Presidency of the Council of the European Union, a General Approach among EU Member States has been reached on the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). The agreement includes a harder line on dark pools which have recently been under tougher scrutiny from regulators. Earlier this month, the Financial Industry Regulatory Authority (FINRA) sent 15 examination letters to operators of dark pools as exchange activity continues to drop.

The agreements seek to provide clearer rules around not only dark pools but OTC derivatives, high frequency trading, pre-trade transparency, and market structure. According to the statement, "member states have decided to limit 'dark pool’ trading and introduce a new trade transparency regime for non-equities markets." The EU is also looking at measures that would make it easier for small and medium sized enterprises to access capital markets.

The agreement will be presented to will be presented by Minister Noonan to EU Finance Ministers for their approval at the meeting of the Ecofin Council on Friday June 21, 2013.

Despite moves by regulators in both the EU and the US, new dark pools are still being announced. Societe G......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. Global markets fell, hedge funds gain in mid-June on Brexit, Fed rate concerns[more]

    Komfie Manalo, Opalesque Asia: Global financial markets declined through mid-June, as uncertainty associated with the upcoming Brexit referendum and expected U.S. Fed interest rate hike contributed to increases in volatility across asset classes, data provider