BlackRock discusses several market structure issues affecting U.S. equity markets and provides several recommendations to further improve market quality and stability.
CONTINUE READINGLarry Tabb, the chief executive of the consulting firm Tabb Group, explains why recent statements by author Michael Lewis that the U.S. equities market is “rigged” are wrong and explains that intermediaries perform one of the most important functions of a market—price discovery.
CONTINUE READINGClifford Asness and Michael Mendelson of AQR Capital Management, an investment management firm with $98 billion in assets under management, comment that much of the criticism of HFT is misguided and add that their firm has benefitted from the reduction in trade execution costs associated with the use of HFT for market-making.
CONTINUE READINGIn a letter to the European Commission, FIA Europe welcomes the opportunity to provide feedback on the Public Hearing on the Liquidity Coverage Requirement and the Leverage Ratio that the European Commission organised on 10 March 2014.
CONTINUE READINGToday marks the end of my first month as Secretary General for FIA EPTA. In only a month, my eyes have opened to the many misconceptions I see reflected in the media about what our member firms actually do.
CONTINUE READINGPeter Nabicht writes in an editorial that professional traders are not competing against investors.
CONTINUE READINGThe undersigned financial services trade associations1, based in the US and Europe, today issued the following statement in support of a Transatlantic Trade and Investment Partnership (TTIP) that includes financial services regulatory coordination, in advance of the March 26 EU-US Summit attended by US President Barack Obama, European Council President Herman Van Rompuy and European Commission President José Manuel Barroso.
CONTINUE READINGESMAs response to FOA letter on ETD reporting (29 January 2014)
CONTINUE READINGWe recognize that the BCBS framework is intended to create a common standard for all global banking organizations, and accordingly, where there are gray areas regarding how the finalized language should be interpreted, technical guidance should be issued to ensure consistent international implementation.
CONTINUE READINGThe Associations support the Committee’s efforts to impose a leverage ratio as a supplementary backstop measure to the risk-based measure and we appreciate this opportunity to provide feedback on the final leverage ratio framework in the form of frequently asked questions (FAQs).
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