EPTA News
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Tackling the risks of algorithmic trading
Since the introduction of automated trading, much has changed in the operation of our markets: how to improve market structure and implement safeguards has been a key topic of conversation for both market participants and regulators for some time. This is why the report by the Senior Supervisor’s Group (a group that consists mostly of Central Banks) on algorithmic and high frequency trading makes for curious reading.
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“Market liquidity second greatest threat to financial stability”
The Bank of England has brought to the attention of mainstream audiences a topic close to our hearts: the consequences a reduction in liquidity would have on the economy.
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Derivatives under MiFID II: Time for equal access
Verena Ross, Executive Director of ESMA, recently delivered a keynote speech to the ABA/Law Society Capital Markets Conference in London. Her speech focused on the importance of increasing transparency in MiFID II “in a manner that does not 'damage' but instead improves the functioning of the market,” making particular mention of “those instruments, such as derivatives, that are still far from being traded in a fully transparent market.”
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FIA EPTA’s response to ESMA's latest MiFID II Consultation Paper – Highlights
FIA EPTA welcomes the opportunity to provide input to ESMA on their draft Regulatory Technical Standards (RTS) on Level 2 of MiFID II / MiFIR.
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Markets: the engine of the economy
With the publication of the recent Bank of England report demonstrating that high frequency trading makes pricing more accurate in the markets it seems a good time to consider not only why this is good for the markets, but why, in fact, it benefits the economy as a whole.
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Picture the financial markets in 2022: will MiFID II have improved liquidity?
t’s February 2022. MiFID II legislation has been in force for five years. Five years which have reshaped our financial market structure. How does the market look?
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Flash in the pan?
A lot can change in a year. This time last year, the publication of Michael Lewis’s Flash Boys book created something of a storm.
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A look at the year gone by
In Europe 2014 has been the year of MiFID II, with the year opening with the landmark political agreement in the second week of January, and the second consultation paper (technical standards) approved by ESMA on the 18th December.
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High Frequency Trading or High Frequency Technology
High frequency trading has been a hot topic for debate this year, as well as the focus of regulators’ attention, but are we talking about the wrong thing?
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Why the ‘real economy’ needs efficient markets
For those of us with a professional involvement in the financial markets, it’s easy to lose sight of the wood for the trees: we’re so buried in the complexity of how markets function that we often forget to explain the big picture. Worse, even: the language we find necessary to explain our complex system among ourselves is almost impenetrable from the outside.
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