Mon, Oct 20, 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

Banner

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 Roundtable: Where are all the good ESG hedge funds?[more]

    Benedicte Gravrand, Opalesque Geneva: What are the benefits of sustainable investing? Many pension funds look to focus on that angle to reflect their company’s good governance, but face many challenges while doing that. A portfolio manager at Univest, a large Dutch pension fund, discusses this is

  2. Bill Gross gives his first investment outlook for Janus fund[more]

    Bill Gross strikes a gloomy tone in his first note to investors at his new gig at Janus Capital. Bill Gross, the renowned bond fund manger, struck a pessimistic chord in his first note to investors at his new gig at Janus Capital. His notes, usually full of silly commentary and upbeat advice, took a

  3. Investing - Big investors move to shore up Fannie, Freddie trade, Two hedge funds eye $1bn support to Sahara to secure Subrata Roy's release[more]

    Big investors move to shore up Fannie, Freddie trade From Forbes.com: Two of the nation’s most prominent investors who have been leading the charge to make a big score out of the shares of Fannie Mae and Freddie Mac moved on Friday to shore up shares of the mortgage giants that plunged r

  4. Opalesque Exclusive: What's next for trend followers?[more]

    Bailey McCann, Opalesque New York: New research out from Ibbotson touches on a key debate happening among investors and fund managers, specifically whether long term trend followers can survive in the new

  5. Hedge funds post negative returns in the third quarter[more]

    Bailey McCann, Opalesque New York: Q3 hedge fund returns were negative, marking the industry's first quarterly decline since Q2 2013 according to the latest hedge fund data from eVestment. Emerging markets saw losses more than twice that of developed markets. Declines from funds investing in