Thu, Sep 18, 2014
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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Investors looking at other sources for hedge fund-like returns[more]

    Komfie Manalo, Opalesque Asia: Investors who are always on the lookout for higher gains are looking at alternative sources of income, particularly exchange-traded fund industry that generates hedge fund-like returns, according to

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Opalesque Exclusive: Old Hill Partners launches specialty finance fund[more]

    Bailey McCann, Opalesque New York: Asset-backed lending is starting to heat up again after a prolonged credit squeeze. The Financial Times reports that a record £18.9bn was borrowed from asset-based lenders in the three months to the end of June. Much of this lending is driven by advanc