Definition of a trading venue: Reg review risks ensnarling tech vendors

Industry participants are divided over the definition of a trading venue and how regulators should revise the regulatory framework.

What constitutes a trading venue? Which kinds of firms should be regulated as trading venues? The answers to those questions are the subject of much heated debate in Europe, and the review of the Markets in Financial Instruments Directive (Mifid II) could throw fuel on that fire.

Market observers say the European regulator’s broad definition of which companies must register as organized trading facilities (OTFs) or multilateral trading facilities (MTFs) pulls into the scope of the regulation

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FCA declines to directly regulate market data prices

A year-long investigation by the UK regulator to determine whether competition is hindered in the wholesale data markets has concluded with its decision not to directly regulate much-maligned data pricing and licensing structures.

How GenAI could improve T+1 settlement

As well as reducing settlement failures, researchers believe generative AI can provide investment managers with improved research, prioritization, and allocation resources.

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