MiFID II position limits - exposures in contracts traded outside of Europe do not qualify for netting
- Category: MiFID
Two weeks for SI calculations? Is it enough?
- Category: MiFID
Investment firms must set up all necessary infrastructure to be able to carry out calculations of the investment firm's position versus systematic internaliser's thresholds within two weeks after the publication by ESMA of the EU-wide reference data.
Committee no longer responsible for the investment decision
- Category: MiFID
MiFID II reporting rules force the functions of risk committees to be reconsidered.
Dark pools, crossing networks, voice brokerage systems - are their secret algorithms at risk of being compromised?
- Category: MiFID
Under MiFID II secondary legislation the nature of any algorithm or program used to determine the matching and execution of trading interests is going to be routinely revealed to competent authorities.
Viability of the EU OTC commodity forward markets hinged on one word in the recital of the European Commission Regulation
- Category: MiFID
Physical forwards can still be used under MiFID II by commodity producers in bilateral contracts. Most of them will not be captured by the financial instruments' strict legal requirements.
Commission Delegated Regulation of 18 May 2016 - relaxed legal corset on energy traders
- Category: MiFID
Traders in physically settled energy forwards will not be required to hold a MiFID II licence when trading on OTFs' markets.
According to recent European Commission Delegated Regulation, in order to remain within the scope of this exemption licenses to operate in the energy physical markets or adequate production, storage or consumption facilities will not be necessary.
MiFID II own account exemption modified
- Category: MiFID
MiFID II has not entered into force yet, but already became substantially amended. What has changed? Key issue - exemptions.
The EU position limits framework - is this manageable issue?
- Category: MiFID
1,500 vs. 28 - this is the scale of discrepancy between the volumes of position limits frameworks in the EU and the US.