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Market Structure

  • FIA EPTA’s Sandra Burggraf appointed to EBA Banking Stakeholder Group

    FIA European Principal Traders Association is pleased to announce that Sandra Burggraf, Senior Policy Advisor – Prudential Regulation & Risk, has been appointed to the European Banking Authority’s Banking Stakeholder Group (EBA BSG).

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  • FIA EPTA Response to the IOSCO consultation report - Evolution in the Operation, Governance and Business Models of Exchanges: Regulatory Implications and Good Practices

    The trend towards the de-mutualization of exchanges that began in the early 2000s has resulted in the most significant European exchanges being for-profit organisations. There has also been substantial consolidation amongst exchanges in Europe arising from acquisitions by other exchanges. Furthermore, there have been acquisitions by exchanges of entities not involved or only peripherally involved in exchange-type activities resulting in a significant dilution of the importance of revenues arising from execution fees to the overall revenues of the groups operating these exchanges.

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  • FIA EPTA responds to FCA proposal on publicising enforcement investigations

    FIA EPTA has responded to the UK Financial Conduct Authority’s public consultation on changes to its approach to enforcement investigations. 

    The proposed changes include the FCA publicly announcing the opening of an investigation and disclosing the identity of the subject of the investigation where it considers this to be in the public interest. While the associations support the FCA’s commitment to making its activities more transparent, they are concerned that the proposed approach will be detrimental to the orderly functioning of UK capital markets with limited value to public interest.

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  • New paper identifies unreported segment of liquidity in European equity markets

    A new paper published by FIA European Principal Traders Association identifies an entire segment of equity activity in both EU and UK markets that is currently unreported. Consequently, European share trading volumes are perceived by the market, including global investors and issuers, as being significantly lower than they actually are.

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