European Securities and Markets Authority (Esma)
Energy firms expect to escape Mifid II without cutting books
Esma data suggests ancillary activity test will be easier to pass than industry feared
Mifid II cost disclosures pose risk to liquidity, warn banks
Dealers hope standardised methodology for some clients could mitigate impact
Buy side unimpressed with Mifid II cost transparency rules
Clients question value of receiving dealers’ swaps profit margin data
Numbers game: Mifid guidance adds to swaps trading confusion
Market participants say using strike price to determine trading obligation will be impossible
Energy firms say looming EU reporting rules too broad in scope
SFTR vagaries cause confusion over commodity-specific transactions
ECB and Esma would call shots on euro clearing
Proposals give central bank and regulator the power to bar biggest third-country CCPs
EU regulators stymied by Esma on electronic access
Treatment for third-country firms unknown until European Commission makes equivalence decision
EU rules delay sparks fears over indirect clearing
CCP members must offer new arrangements for exchange-traded derivatives in January 2018
Doubts plague Emir reporting clean-up
Industry still advocates single-sided reporting as a way to improve EU swaps data quality
Banks split on Mifid II pre-trade compliance
Esma promises guidance, but some say ‘firm, executable’ quotes are impossible
The Dark Ages: US and EU unite in position limit vagaries
Regulators’ inactivity infuriates commodities markets
Too little, too late: Esma data won’t fix energy firms’ Mifid woes
Data confusion and unworkable exemption timeframe risk commodity market disruption
Emir review could push securitisations into the dark
Subjecting deals to margin requirements would be a further blow to STS securitisation concept
Deutsche Börse exec backs euro clearing landgrab
Swiss CCP operator Six x-clear defends current equivalence regime
Esma to publish Mifid II commodity market data by July
Data vital to establish if firms are in Mifid II, but it will be incomplete, agency says
Banks weigh Mifid II pre-trade price publication venues
Anonymity will be key factor in final decision, say dealers
Euro clearing relocation ‘will inform’ US cross-border policy
Isda AGM: CFTC’s Giancarlo says geography has been no barrier for EU CCPs in the US
EU regulators prepare to close Brexit loopholes
Isda AGM: new guidelines aim to prevent EU brass plates with large London operations
LCH warns on euro clearing land grab
Isda AGM: location policy would result in higher margin costs, lower liquidity, says Maguire
Esma wants more detail on CCP recovery plans
Isda AGM: regulator and industry emphasise need for effective clearing house supervision
French regulator lays out plan to capture London euro clearing
AMF calls for equivalence to be scrapped for biggest CCPs and trade repositories
Power struggle: EU battles for supervisory convergence
European Commission’s review of the three supervisory authorities fraught with difficulties
FIA calls for Mifid II transition for commodity firms
Licences required from start of 2018, but underlying data will be missing
Euro clearing location paper due on June 28
Short precursor on Brexit-related initiative expected on May 4, alongside Emir review