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ACER stops processing RRM applications

ACER has announced here that the processing of applications to become a Registered Reporting Mechanism (RRM) under REMIT has been suspended due to a lack of suitable resources. RRMs are usually the destination to which market participants send data when reporting under REMIT. The announcement notes that there are already over 120 authorised RRMs as … Continue reading

More US anti abuse activity – precious metals – more spoofing

Following the charging of several individuals earlier this year (see here) an additional trader, formerly of JP Morgan Chase and Co, has been charged with market manipulation in precious metals futures on Comex and Nymex over a period ranging from 2008 to 2016. The notice from the Department of Justice can be found here. The … Continue reading

Brexit: CCP equivalence to be extended

The European Commission has confirmed in a speech that the temporary equivalence of UK Central Clearing Counterparties (CCP) will be extended further than the end of March 2020, as previously granted. This story on The Trade News reports on the speech in which confirmation was made. The extension means that in the event of a … Continue reading

Anti abuse activity continues in the US

Anti abuse penalties continue to increase in the US following recent fines (see here). These include a settlement of $67.4 m between the CFTC and Tower Research Capital LLC for spoofing. The  CFTC press release can be found here and the order here. This article on the FT web site summarises the case. In commodities, … Continue reading

ESMA opens consultation on MiFID II position limits

ESMA has opened a consultation on the MiFID II position limits and position management regimes, following a “call for evidence” earlier this year (see here).  The consultation document can be found here. The document reveals that the call for evidence returned some doubts as to the effectiveness of the regime in countering market abuse and … Continue reading

One week to the 2nd open anti-abuse forum

The 2nd open anti-abuse forum for the energy and commodities will take place in Amsterdam on the 11th November 2019, in one week’s time. There are still a few places remaining for those who wish to attend. The forum is brought to the market on a non-profit basis by the Market Abuse Centre and ETR … Continue reading