Yesterday the UK's Financial Conduct Authority (FCA) opened this consultation covering the proposed changes to the commodity derivatives regime in the UK. It focuses on changes to the position limits…
Several industry associations have published a joint statement expressing concerns about proposed changes to MIFID II and how they will affect energy and commodity market participants. The statement can be…
The UK's HM Treasury has published the legislation which redefines how the Ancillary Activity Exemption under MIFID II will be deployed in future. Following the publication of draft versions earlier…
We have been offline for a couple of weeks and this post aims to catch up on some key news: ACER published the first "reference price", which will be a…
Jeremy Hunt, the UK's Chancellor of the Exchequer, announced a series of changes on Friday to Financial Services legislation as part of the "Edinburgh Reforms". His speech included a commitment…
On 13th September the European Commission DG FISMA sent this letter to ESMA, asking for a response to the following topics: Whether better use should be made of circuit breakers…
Last week ESMA issued this updated MiFID II and MiFIR market structures topics Questions and Answers document which includes an updated section on algorithmic trading. New QAs 33 and 34…
ESMA has released this final report on emissions allowances and associated derivatives. The report looks at the Emissions Trading Scheme (ETS) in Europe and how the process and markets in…
Following the consultation opened on the method for UK entities to carry out the MIFID II Ancillary Activity Test recently(see here), the UK's Financial Conduct Authority (FCA) has issued this…
Following on from the publication of the response to the Wholesale Market Review (see here), the FCA has included a section on the MIFID II Ancillary Activity Test in their…