Has Covid stopped the clocks on FX timestamp efforts?

Budget reallocation may not be the only factor stalling standardization progress, say market participants.

The foreign exchange markets’ push towards standardized timestamps—and greater transaction cost analysis (TCA)—has stalled. Since February 2020, when the Investment Association published a best execution guide for timestamps, the industry has made no concerted effort to standardize more granular timestamps.

And while regulations may require venues to record trades to the nearest millisecond or better—Europe’s second Markets in Financial Instruments Directive (Mifid II) among them—some order

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Waters Wrap: The tough climb for startups

Anthony speaks with two seasoned technologists to better understand why startups have such a tough time getting banks and asset managers to sign on the dotted line.

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.

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