European Securities and Markets Authority (Esma)
Data disruptors face uphill battle to overcome credit ratings stagnation
With traditional ratings agencies facing increased hostility from financial firms, new entrants are hoping to reshape ratings. But will fresh approaches appeal to an industry underwhelmed by existing offerings?
This Week: Jyske Capital/SimCorp; Vestrata; NICE Actimize/FACEPOINT; Anna/Gleif; SS&C, ING, and more
A summary of some of the past week's financial technology news.
EU Regulators Spill More Ink Tackling Market Data Costs
The latest consultation on the market data obligations under Mifid II looks to provide better, cheaper, and more uniform access to market data. But will it be enough to standardize policies?
EU Firms Seek Clarity on Tech Requirements for Incoming Cloud Guidelines
As Europe prepares for a new batch of outsourcing rules, some firms are looking for answers on how to test exit strategies and mitigate concentration risk.
Industry Still at Odds Over Use Case for an EU Consolidated Tape
Market participants say they want a high-quality, centralized source of market data for EU equities. But who and what is it actually for?
A Way Forward for the Consolidated Tape?
A recent EU-backed report has presented what might be the most viable governance model yet for the controversial project.
EU Proposal Takes Aim at Major Cloud Providers
Jo writes that the EU’s new digital package could find large cloud providers operating in the bloc subject to potentially invasive oversight, as the EU strives for “data sovereignty”.
People Moves: DTCC, State Street, Xoriant, Esma, Atomyze, Canoe Intelligence, BCS
A look at some of the key "people moves" from this week, including Lisa Hershey (pictured) who has been appointed managing director and chief compliance officer at the Depository Trust & Clearing Corporation (DTCC).
Dutch Regulator Seeks to ‘Level Playing Field’ for Vendors & Venues
AFM suggests some liquidity aggregators should be classified as organized trading facilities.
Regulators Defend ESG Data Requirements
Disclosures will protect end investors and increase the amount of data on ESG, supervisory authorities said at a public hearing.
This Week: Vanguard, OneMarketData, SS&C, Xignite, Esma, SimCorp, Nasdaq
A summary of some of the past week’s financial technology news.
Esma Guidelines Call for Full Audits of Cloud Providers
The regulator is consulting on outsourcing contract guidance that would give firms and supervisors access to the books and premises of providers.
Scrutiny and Frictions Follow EMS Vendors into Fixed Income
Aggregators are facing resistance from venues and attracting the attention of regulators.
ESG Disclosures Will be a Data Sourcing Headache for the Buy Side
The draft technical standards for the EU's updated disclosures regulation will impact most market participants, analysts say.
This Week: Philippine Stock Exchange, IBM, Cboe, Esma & More
A summary of some of the past week’s financial technology news.
APIs to Help with Regulatory Differences Over Dark Trading
Technologists urged to adopt a more flexible plug-and-play approach using APIs, as concerns grow about the FCA and Esma's differing attitudes toward dark trading.
Tech, Data Concerns Mount as SFTR Deadline Edges Closer
Industry experts voice concerns regarding the drafting of the regulation and the length of time to prepare, particularly as firms are still waiting on guidelines to be published.
Plato’s Planned Platform Could Serve as Precursor to European Consolidated Tape
Industry experts say not-for-profit organization is building a post-trade market data platform that could be a precursor to an EU consolidated tape.
MarketAxess' Trax to Begin Industry Testing for New SFTR Tool
Starting next month the vendor will allow testing for its UTI portal to help with SFTR compliance.
SFTR Preparations Stifled by Data Availability
While the initial go-live date of SFTR is set for early 2020, data availability and legacy processes remain the leading roadblocks.
Industry Steps Up Calls for European Consolidated Tape
Traders in Europe face rising data acquisition costs and increasing regulatory reporting pressures argue that a pan-European consolidated tape is long overdue.
Less Than Half of Trade Reports Match Under EMIR
Data from Esma shows that just 40% of swaps trade reports match under two-sided reporting regime.
Inside the FCA's Brexit Plans: Nausicaa Delfas, Executive Director of International
With over 25 years of experience in law and shaping regulatory policy, Nausicaa Delfas is tasked with one of the biggest challenges of her career yet—tackling Brexit.
Bracing for Data Disruption in a No-Deal Brexit Scenario
In February, UK and EU regulators made announcements expected to shed light on the future of data sharing and alleviate some uncertainty post-Brexit, but industry experts say the latest statements fall short of lifting the real burden on affected firms.