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ACER Guidance Note on Capacity Hoarding

ACER has today issued a guidance note on Capacity Hoarding, which can be found here. This follows the publication of a paper last year on wash trades (see here). Summary commentary will be published here over the coming days. ETR Advisory Regulatory Support clients will receive a detailed paper.  

The Brexit story continues

Yesterday saw many headlines in the story of Brexit, with a “significant step” in finalising a transition agreement announced (for example see here on the Sky new web site, here for the statement from the UK Department for Exiting the EU and here for the announcement from the European Commission). A new version of the … Continue reading

Streamlining regulatory reporting – document from Europex

This blog has covered the many streams of regulatory reporting to which market participants have become subject to over the past years. The burden is also high for trading venues, who must meet a thicket of requirements. This response by Europex, to the European Commission as part of the Commissions, “fitness check on supervisory reporting” … Continue reading

Algorithmic trading, anti abuse measures and an interesting view on insider trading

The focus on algorithmic trading with regards to anti abuse measures continues. Last week, Nasdaq published this article entitled “Best Practices in Algorithmic Trading Compliance”. It summarises the measures outlined in the FCA’s recent paper on the topic (see here). It includes surveillance, testing and training issues, which in many cases are advised regardless of … Continue reading

Compliance culture – FCA paper and more

The UK’s Financial Conduct Authority has published this paper entitled “Transforming Culture in Financial Services”. It contains several essays from different parties on “good” culture in financial services organisations and how they relate to regulation and compliance. On a related topic, this article on the FTSE Global Markets web site looks at moving beyond “Minimal … Continue reading

Complying with GDPR and other rules simultaneously

There has been much general discussion on the Global Data Protection Regulation(GDPR) since the last post on the topic (see here). The rules start  to apply in May and are keeping many companies busy, covering a wide scope of activity. In the UK, last month the FCA and Information Commissioner’s Office (ICO) published this statement … Continue reading

Blockchain developments – initiatives, legal applicability and rules

The world of blockchain use and crypto currency regulatory developments continues at a fast pace, in the energy and financial worlds, with many developments since our last post (see here). Energy initiatives On the energy side of things, Endessa and Gas Natural Fenosa announced here that they have completed an energy trade on EnerChain. This will … Continue reading

Two months into MiFID II – Data reporting issues

Last weekend saw the 2 month anniversary of MiFID II. Although some things are settling down, there are still a few issues that have been reported since our last post (see here) . This article on IFLR Insight reports on issues that many Investment Firms are experiencing with transaction and trade reporting. For those caught, … Continue reading

Updated EMIR validations – ISINs

ESMA has updated the EMIR validations spreadsheet, which can be found here. The changes can be found on rows 47 and 68 with the first change reflecting the need to report far more trades with ISIN codes since the start of MiFID II. The more widespread use of ISINs has caused difficulties for many in … Continue reading