Mid-cap stock exchange Plus is in a strong position to compete says FD Nemone Wynn-Evans, but needs to deseat the LSE from pre-eminence, writes Rules have been put in place to facilitate competition. Players are piling into the market and, at the same time, credit lines to businesses of all kinds are all but totally [...]
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Europe needs a consolidated tape, according to the U.K.’s Investment Management Association (IMA), which has issued a set of recommendations intended to improve transparency in the continent’s equities market. The buy-side trade group says its members also want order-routing rules similar to Regulation National Market System in the U.S.
“Counterparty risk and settlement certainty dominate the [...]
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Instinet Incorporated, a global leader in electronic trading and agency-only brokerage services, today announced that its European agency brokerage subsidiary, Instinet Europe, has published the key findings of its Best Execution Policy Review, conducted in accordance with MiFID regulations. The review covers Instinet Europe’s trading performance from 1 August 2008 through to 31 October 2008 [...]
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LONDON, UK — Xtrakter, the market utility, is pleased to announce that TRAX will facilitate the regulatory reporting of exchange traded derivatives (ETD) and other complex derivatives in accordance with the requirements of the Markets in Financial Instruments Directive (MiFID) in Q1 09.
The Committee of European Securities Regulators (CESR) requires firms to regulatory report derivatives [...]
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HIGHLIGHT: Xtrakter, a market utility acquired by Euroclear last month from the International Capital Market Association, has announced that its Trax trade matching and regulatory reporting system will facilitate the reporting of exchange-traded derivatives and other complex derivatives in accordance with the requirements of the European Union’s Markets in Financial Instruments Directive (MiFID) starting in [...]
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Spare a thought, as you trudge through the 220 page epic that is the retail distribution review (RDR) feedback statement, for the people who had to write it.
The team led by Amanda Bowe (pictured), head of the RDR, had the unenviable task of drawing together 888 responses to the original discussion paper and producing a [...]
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Journal of International Banking and Financial Law
(2008) 11 JIBFL 620
1 December 2008
Prime brokerage claims
In Practice
Christa Band
Stephen Gale
Patrick Buckingham
© Reed Elsevier (UK) Ltd 2008
In this climate the issue uppermost in prime brokerage clients’ minds is whether they have title to ‘their’ assets held by the prime broker. Lehmans alone had over 1,000 prime brokerage clients.
One of [...]
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For legal help on MiFID issues, I recommend you contact Bob Penn, an associate in the Regulatory Team of Allen & Overy LLP and the author of the MiFID 6-Part Guide I have included on this website.
Location: United Kingdom
Practice(s): Derivatives and Structured Finance , Financial Services , Investment Funds and Structures , Outsourcing
Date [...]
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FIX Protocol Ltd. (FPL) has named Ryan Pierce, a contributor to the non-profit organization since 1998, as technical director-a newly created, full-time position.
FPL, which includes representatives from 170 financial firms, market centers and technology vendors, has traditionally relied on volunteer staff. Most of the contributors to the FIX protocol have day jobs with FPL’s [...]
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Euroclear, seeking to bolster its settlement functions, has acquired the International Capital Market Association’s (ICMA) Xtrakter subsidiary for an undisclosed amount. London-based Xtrakter, which has approved reporting mechanism (ARM) status, owns Trax, a trade matching and regulatory reporting system.
The deal, announced Nov. 20, marks the second time that ICMA, a London- and Zurich-based bond industry [...]
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