Venue-led consortium plans to pick a winner before EU regulators begin tender process – anticipated in third or fourth quarter of 2023.
While the new rules will eat into financial services resources, regulators say they will also offer safeguards for managing cloud agreements.
The FCA is in the middle of a tug of war over the definition of a trading venue. Will it diverge in a bid to present itself as a competitive market internationally or align with its EU partners?
Move to shorten the settlement cycle in the US could have knock-on implications for other markets, as the EU grapples with a new penalty regime.
Coded reporting requirements could save banks “millions” in compliance costs, bank execs say.
‘Cost of Esma’ crisis for largest European regulated data reporting and publishing firms.
US regulator’s mammoth January proposal has something in it for most US trading systems, but Jo suspects it will be the definitions of exchanges that hit the hardest.
The second half of the year saw some long-awaited progress in the mission to fill the void of a consolidated tape in the European Union.
Market participants worry a venue-led CT could be of low quality, with CT data used to create expensive additional products.
Vendors grapple with unstandardized data reporting and data gaps in their push to develop a consolidated tape, as the EU prepares to unveil its latest legislative plans.
As the industry awaits upcoming EC proposals, some firms are voicing concerns that mandating multiple CTPs could create fresh problems around data fragmentation and connectivity costs.
Industry participants are divided over the definition of a trading venue and how regulators should revise the regulatory framework.
Anthony examines a proposed protocol in Europe that would help keep liquidity flowing if there’s a major exchange outage. He also discusses innovation in the realm of ESG, and Esma’s new data analytics platform.
The consultancy will provide on-demand tooling for analyzing data collected from Data Reporting Service Providers.
In the absence of a consolidated tape for debt securities in the EU, vendors with different approaches to distributing fixed-income market data are emerging.
Commission official says beta version ready for testing in 2023 will also include equities, bonds and ETFs
The regulator is ditching its legacy architecture to cope with massive volumes of reported data and new supervisory responsibilities.
A no-adequacy decision could create new logistical issues for compliance teams and data managers operating across the UK and the EEA.
The supporters of a plan for a federated cloud architecture in Europe held a conference to discuss development plans, but it’s still unclear how the concept will work in practice.
A recent EU-backed report has presented what might be the most viable governance model yet for the controversial project.
Jo writes that the EU’s new digital package could find large cloud providers operating in the bloc subject to potentially invasive oversight, as the EU strives for “data sovereignty”.
AFM suggests some liquidity aggregators should be classified as organized trading facilities.
The EU authority is buying three datasets from the vendor, which it will use to track supply chain risk in the single market.
Jo wonders if the EC's approach to regulating AI could adapt existing liability laws—with implications for individuals.