Light at the End of the Tunnel, But Will Mifid Dark Pool Rules Add Up?
Esma has released the first figures to support Mifid II’s caps on the percentage of equities trading that can be transacted on dark pools. However, critics warn that although the delay has given Esma more time to validate data and clean up queries, the absence of a consolidated tape will remain an obstacle. By Philip Alexander
Though part of the new iteration of the Markets in Financial Instruments Directive (Mifid II) and its associated regulation, Mifir, which became law on January 3, Esma had delayed the implementation of the DVC until March because of “data quality and completeness issues,” but published its first set of data for January and February on March 7—albeit for significantly fewer instruments than expected.
Dark pools have never liked the rules, which can suspend dark trading of any stock that exceeds
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: https://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
SEC gunning to take over CAT in 2027
Chairman Atkins has plans for the SEC to run the Consolidated Audit Trail directly. Industry participants are split on the idea.
Managing regulatory transformation through a Dual-Flow Operating Model
Darshan Shah presents an operating model that enables project teams to implement complex regulatory programs, preserve business continuity, reduce risk, and prepare enterprise platforms for regulatory change.
The complexity of using AI to tackle compliance
The Waters Wrap: Law firms are introducing new tools to help with regulatory compliance, potentially encroaching on regtech vendors’ territory, Wei-Shen writes.
SEC denies 24X’s requested SIP exemption, for now
Start-up exchange cannot begin its overnight market session before the equity data plans’ hours are scheduled to be extended on December 6. But that’s only half of it.
Cyber audit leaves Eiopa with a credibility problem
The Dora supervisor charged with overseeing critical tech vendors has been critiqued for IT security failings.
The danger of prediction markets is precisely how useful they are
The Waters Wrap: Prediction markets may seem like a gamer’s paradise or a honey pot for those looking to corrupt betting. But they have another use in forming institutional prices. At least, that’s what Max Bowie is putting his money on.
The Clarity Act enters the Last Chance Saloon
The US’ landmark crypto bill’s future looks uncertain. Crypto fans may still see the bill pass before fall, but it’s the hope that kills you, Eliot writes.
Red alert: how Nasdaq’s Smarts became surveillance blind spot
Software that looks for shifty trades has been asleep on the job, affecting alerts for hundreds of products.
