Rules & regulations
Big xyt exploring bid to provide EU equities CT
So far, only one group, a consortium of the major European exchanges, has formally kept its hat in the ring to provide Europe’s consolidated tape for equities.
American Bankers Assoc. asks SEC: Do you know what you’re doing?
The industry group disagrees severely with regulators’ interpretation of the Financial Data Transparency Act, hinting at possible legal action in a recently published comment letter.
The SEC needs a hand with artificial intelligence
The SEC wants to take a tough stance on AI, but it has a talent problem… or a marketing problem. Or both…
Size matters: US equity market players wrangle over new tick size regime
The industry expects the SEC to finalize the Reg NMS shake-up as soon as late summer. While there is broad agreement about the need for change, the extent of the reduction in access fees and tick sizes will have a big impact on markets.
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.
Institutions see everything to play for in UK’s DLT sandbox
Industry welcomes flexible issuance limits, but rues derivatives’ exclusion as a missed opportunity.
Dora ‘critical tech vendor’ designation could cast a wide net
Experts think cloud services, data providers and software firms are all in regulators’ sights.
Federal court denies motion for early judgement on Cusip numbers’ copyrightability
A judge for the Southern District of New York has also ordered that two class-action suits brought against Cusip Global Services and its affiliates earlier this year be consolidated.
Symphony suspends Sparc pending registration talks with CFTC
The comms provider may have to register its RFQ workflow and messaging tool as a Sef, or perhaps permanently shut down the business line.
Waters Wavelength Podcast: Bloomberg on FRTB
Bloomberg's Eugene Stern and Brad Foster discuss data challenges relating to the Fundamental Review of the Trading Book (FRTB).
EU Proposal Takes Aim at Major Cloud Providers
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”.
Covid Could Cause US Regulators to Rethink Surveillance
Not having specific requirements and procedures for firms to refer to ended up putting some funds in a tough place during the pandemic’s early days.
VendEx Readies VReg Tool to Shed Light on Vendor Dependencies
VReg will highlight the third-party services that financial institutions rely on most to meet each aspect of regulations.
Google Cloud Platform Bends to Regulation at SLA Level
The company has taken a tailored approach to outsourcing contracts as increased scrutiny demands portability and audit rights from cloud service providers.
Lawyer: Don’t Punish the Programmers
Smart contract developers should not be responsible for violations of regulation perpetrated on the blockchain, says Katten special counsel.
FCA Working on New Data Analytics Program
The UK regulator has moved much of its data to the cloud and is using more advanced analytics as it seeks to better regulate evolving financial firms.
MarketAxess' Trax to Begin Industry Testing for New SFTR Tool
Starting next month the vendor will allow testing for its UTI portal to help with SFTR compliance.
Rimes Appoints Former MSCI Exec Chairman
David Brierwood has been named as the vendor's first chairman.
Coleman Launches Interactions Platform
The cloud-based offering allows buy-side clients to manage their interactions with research providers, industry experts and analysts.