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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 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

Brexit day gets closer

With the MiFID II deadline now passed, despite continuing developments(see here), many are starting to consider the actual impact of “Brexit”, especially those in the UK or dealing with UK counterparties. There is a great deal of headline level discussion at present about the shape of deals, and other political considerations (for example see this … Continue reading

MiFID II – the story continues

MiFID II has been in place for over a week now, and news continues to arrive. ESMA has published a list of position management controls for commodity derivative venues, which can be found here. These specify, for each venue, how position limits are managed and enforced. Lists such as the central venues list (see here) … Continue reading

Blockchains, crypto currencies, ICOs – regulatory angles

The use of “blockchain” technology, which supports crypto currencies such as the bitcoin, is being widely considered and reported, with many pilots and in some cases actual use in flight. The future use of such technology is hotly debated, from those whose view is that they will “change the world” to the opposite, with some … Continue reading

MiFID II week II

We are now in the second week of MiFID II, which has dominated the news over the past week. Here we look at more developments. France’s AMF announced here that reporting to them had gone smoothly last week. Following the reprieves of last week in terms of open clearing access, Sweden’s¬†Finansinspektionen¬† has given Nasdaq a … Continue reading

More MiFID II news – and the Benchmark Regulation

We are now “two days in” to MiFID II, and the industry is getting used to the “new world”. Following yesterday’s post (see here) there are more updates: Euronext has been granted a waiver to the “open access” rules as reported here on the Reuters web site. This interview on Wednesday of Markus Ferber MEP … Continue reading

MiFID II – One day in

We are now one day into the “era of MiFID II”. The “new world” has been covered by much of the mainstream press, for example here on the London Evening Standard web site. This article on the Reuters web site reports on comments made by Steven Maijoor, chair of ESMA, that MiFID II is off … Continue reading