European Union (EU)
DORA stalls over identifier dispute
A disagreement over how to classify third-party tech providers on a reporting form known as the “register of information” has held up preparations for the highly anticipated operational resiliency rule in Europe.
EU firms press for faster move to T+1 after smooth US rollout
Following the example set by North America, 70% of attendees at a European hearing on shorter settlement cycles favored a Q4 2027 switch to next-day settlement.
SocGen pushes data, analytics use cases for SG Markets
The bank is letting a handful of clients experiment with its proprietary data and models to inform their research.
FRTB data quality issues persist amid shifting implementation dates
Banks are finding market and reference data challenges posed by the FRTB’s standardized model tricky, compounded by uncertainty over when the regulation will take effect.
DSB says industry is ready to meet UPI mandate ahead of deadline
The Unique Product Identifier will be required for certain OTC derivatives in the EU at the end of April, following US adoption in January.
Consolidated tape hopefuls gear up for uncertain tender process
The bond tapes in the UK and EU are on track to be authorized in 2025. Prospective bidders for the role of provider must choose where to focus their efforts in anticipation of more regulatory clarity on the tender process.
European exchanges turn to dark trading in battle for flow
The EU’s two biggest exchanges are launching dark pools this year. The apparent change in their stances on dark trading reflects a profound shift in equities markets.
Bloomberg updates risk analytics platform to cope with FRTB regional shifts
The data giant is also rolling out updates for climate risk and asset liability management on its platform.
Dora technical standards shoot for break in the clouds
One goal of the EU’s latest ICT risk act is to mitigate cloud concentration. Some experts say it may make it worse.
‘When, not if’: EU plots course for T+1 transition
Not everyone saw eye to eye at a European Commission roundtable discussing how to shorten settlement cycles, but most participants recognized the need to make the transition to T+1.
This Week: Europe’s Mifir review, FIA Tech, TRG Screen, UPI implementation, and more
A summary of the latest financial technology news.
Politics, public opinion collide in EC identifier consultation
The European Commission has said neither the Isin nor the UPI is ‘suitable’ for price transparency, and proposed modified alternatives in an industry consultation.
One step forward, two steps back—European regulation grapples with the same old problems
Stop me if you've heard this one before...
Generative AI is here to stay, even if the path forward is unclear
Chatbots and large language models dominated the AI conversation this year with the expectation that 2024 will bring more innovation and use cases to the forefront.
Waters Wrap: On EMSs, regulation, and (among others) BlackRock Aladdin
Regulators in the US and Europe have turned their sights on execution management system providers. Anthony examines some of the questions the industry is trying to answer.
UK pushes financial firms to adopt privacy-enhancing technologies
Lawmakers and vendors are set to usher in an era of mutualized data insights. Are banks ready?
ECB’s Lagarde sets out vision for integrated European capital market
The president of the European Central Bank argues for a more ambitious, top-down approach to the capital markets union.
Settlement ‘instructions’: Firms look to US for guidance as Europe braces for T+1
Operations professionals in Europe look across the pond for lessons in managing shorter settlement cycles.
Europe’s AI Act is taking shape. How will the UK respond?
As the EU pushes through a historic AI Act, its neighbor is left wondering how to keep up.
Is the equities tape slipping through Europe’s fingers?
The EU has finally reached a compromise on a consolidated tape. But Theo wonders if it is too little, too late.
SFDR: A data project that’s becoming ‘a real headache’
SFDR mandates that asset managers must start publishing ESG data in a few weeks, but sourcing the new metrics has proved challenging, and a host of questions remain.