Thu, Sep 3, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

EU moves on MiFID II, banking union

Monday, April 21, 2014

Bailey McCann, Opalesque New York:

The European Union has approved moving into the second phase of its Markets in Financial Instruments Directive (MiFID) regulation which handles market structure issues, these new rules will have implications for high frequency trending and derivatives. In addition, European banks are likely to see still more regulation under the new banking union that was approved during the same session.

Under the current agreement, new rules will enter into force in 2016. The European Securities and Markets Authority (ESMA) will release technical guidance between now and then for implementation of the new rules. As with any financial regulation, each rulemaking effort will come with a comment period which typically allows for any of the broad guidelines laid out by the European Commission at the end of last week when the changes were approved to be watered down.

Deutsche Börse-owned Eurex and IntercontinentalExchange-owned Liffe will first look at new derivatives rules which could actually make markets more competitive. MiFID II also places continued scrutiny on high frequency trading which is under parallel investigation in the US. Standardized derivative trades will have to be executed on regulated trading platforms and the EMIR clearing obligation will be extended to capture exchange traded derivatives. In addition to standardized trading there will also be new position limits and reporting requirements.

"Changes to the exemption rule......................

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. Cliff Asness attracts $360 million as liquid alternative funds hold up[more]

    From Bloomberg.com: As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice. The $9.12 billion AQR Managed Futures Strategy Fund pulled in an estimated $360 million in net subscriptions last

  2. Performance - Einhorn and Loeb's hedge funds both decline 5% in August, Some target-date funds miss in the market turmoil[more]

    Einhorn and Loeb's hedge funds both decline 5% in August From Reuters.com: Hedge fund billionaires David Einhorn and Daniel Loeb saw their main funds lose roughly 5 percent in August during a dramatic market sell off, two people familiar with their returns said on Monday. Einhorn's

  3. Opalesque Exclusive: When the SEC calls, fund managers need to get out of their own way[more]

    Bailey McCann, Opalesque New York: New pressure is hitting alternative investment funds from all angles. So far this month both hedge fund and private equity players have seen enforcement actions, and subsequent fines over fees, disclosures, and misleading statements. Citi one of the biggest

  4. Fortress hedge fund manager David Dredge says markets trouble on the way[more]

    From AFR.com: David Dredge of global hedge fund Fortress has built a career studying, predicting and protecting against the world's major financial crises. The recent convulsions in global sharemarkets are "just the beginning" of a painful adjustment as money drains from the emerging market economie

  5. North America - Puerto Rico agency plans talks with hedge fund creditors[more]

    From WSJ.com: Puerto Rico’s Government Development Bank is planning to begin confidential debt-restructuring talks with hedge funds that own its bonds as early as next week, said a person familiar with the matter. The parties are set to discuss a plan under which the investors would lend additional

 

banner