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MiFID II transposition, updates and regulatory battles

Updates and new around MiFID II continue, following our post last week (see here). The European Commission has issued a warning to 12 member states that they must transpose MiFID II or face sanctions. The notice can be found in this press release by the Commission. The countries warned are¬†Croatia, Greece, Latvia, Lithuania, Luxembourg, Poland, … Continue reading

Brexit update – and meetings at eWorld

As the date of the UK’s departure gets nearer there still appears to be little solid information on work that must be carried out in the next 14 months. Never the less the news continues following our last post on the topic (see here). The general news talks of the higher level political process, for … Continue reading

Anti-abuse fines on both sides of the Atlantic and more

There has been an increased focus on anti abuse activity in the energy and commodities markets over the past year, due to a combination of the start of MAR in July 2016, the start of REMIT data collection and also increased investigations by both financial and energy regulators. This year has already seen a fine … Continue reading

MiFID limits and more

The UK’s Financial Conduct Authority yesterday set a new position limit on a contract for Swiss baseload power. It will apply from 31st March 2018. The updated list of FCA limits can be found here. There have been further changes to the sheet,, which not only adds the new limit but introduces other changes too. … Continue reading

Blockchain updates: Initiatives and warnings

With new blockchain initiatives being frequently announced, for example this one reported on FT.com in agricultural commodities, or even this UN backed initiative to “help fight climate change” reported here on Coindesk, there is much to discuss since last week’s post here. This article on Forbes looks at the extension of the BTL initiative from … Continue reading

MiFID II week 4

As another week starts, the industry is “getting used” to MiFID II, although there have been some updates from ESMA, for example the updated “venues” list which can be found here, as well as several interesting pieces of news since our last update. As this article on the S&P Global web site reports, many are … Continue reading

Clean energy package update

The “Clean Energy Package” took another step forward this week in the European Parliament following a circuitous path to approval. The parliament voted for a 35% renewables target by 2030, as reported here on the PV Magazine web site. This post on the Euractiv web site discusses the various types of resistance encountered, despite broad … Continue reading

Blockchain and Crypto update – Regulators, manipulation and more

Following our introductory “blockchain” post last week (see here), there have been several developments in the sector: The recent drop in the Bitcoin price has been widely reported, for example here on The Independent’s web site. This is attributed by some to statements from regulators about the future oversight of crypto currencies. For example, the … Continue reading

EMIR Update: TR Fees and EMIR Review legislative proposal

Last week ESMA published this thematic report, which covers fees charged by EMIR Trade Repositories, starting on page 23. The report expresses concerns regarding several aspects of the fees, such as comparability between TRs, and how easy it is to understand the likely fee level given a particular scenario. It also compares volumes between many … Continue reading

MiFID II – week 3

As the third week of MiFID II begins, developments continue following last week’s news: BaFin has updated their position limits page, which can be found here. This article on the ICIS web site reports of remaining confusion for those in commodity derivatives, both in terms of position limits, and also in terms of the calculation … Continue reading