9 days ’til EMIR reporting go-live: where are you now?
JWG analysis. With 9 working days to go before compulsory reporting of derivatives trades becomes a daily reality, firms are in the final phases of implementing their individual solutions. These...
View ArticleTwo new EU regulations to add to your roadmap in 2014
By Conor Foley, Hume Brophy. This alert summarises the key provisions of the proposed Regulation on structural measures improving resilience of EU credit institutions (SBR proposal) and the proposed...
View ArticleThe OTC mirage: As deadlines near, global trade reporting follies emerge
JWG analysis. With the 12 February EMIR trade reporting deadline just around the corner, the atmosphere in the derivatives industry suggests just as much turmoil as ever. Issues surrounding LEI...
View ArticleTransparency: the new wonder drug?
JWG analysis. MiFID II and its regulatory cousin, MiFIR, have some lofty ambitions for European securities and derivatives markets. And one of their most clearly stated goals is to enhance market...
View ArticleThe OTC forest: seeing the wood for the trees
JWG analysis. “When a tree falls in the woods, does it make a noise?” While some may find the question trivial, it has provided much food for thought for philosophers since it was first raised in the...
View ArticleMiFID II / MiFIR: summer of standards 2014
JWG hosted a jam-packed CDMG meeting last week for the first sneak-peek of what MiFID II holds in store for 2016. The big conclusion: a lot of work still needs to be done to scope out the operational...
View ArticleBlockchain technology: part of your regulatory reform picture?
Darragh O’Grady and JWG. There has been much written lately on the potentially disruptive impact that digital currencies may have. However, the blockchain architecture that underlies them has also...
View ArticleESMA releases revised trade reporting rules
As published in ‘The Trade’. Europe’s financial regulator has revised the current framework for the reporting of derivatives trades under the European Markets Infrastructure Regulation (EMIR). The...
View ArticleKey points and dates to take away from Verena Ross’ speech at IDX 2015 on...
JWG analysis. In her speech at IDX 2015 this week, Verena Ross, Executive Director, European Securities and Markets Authority, addressed the two major EU legislative projects affecting derivatives...
View Article2017: Will your buy-side derivatives trading look good?
JWG analysis. As we pointed out in our third piece on regulatory reporting, and at an Infoline conference for the buy-side this week in London, the overarching question is how will firms’ derivative...
View ArticleOFGEM to wholesale energy market participants: “Be warned!”
JWG analysis. The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) was introduced in 2011 to stem insider trading and market abuse in European wholesale energy markets, under...
View ArticleClear(ing) and present danger: Nasdaq OMX’s EMIR CCP authorisation
JWG analysis. Last week, Nasdaq OMX became the first infrastructure provider to be authorised as a Central Counterparty (CCP) under the European Markets Infrastructure Regulation (EMIR). The decision...
View ArticleMiFID II: the illusion of control
JWG analysis. MiFID I was all about creating a common set of rules for the single market. Along the way, it asked regulators to track market abuse. They duly set up a system of transaction reporting...
View ArticleAn update on the Financial Transaction Tax
With the number of participating states down to 10 (France, Germany, Belgium, Greece, Spain, Italy, Austria, Portugal, Slovenia and Slovakia) and the implementation date delayed to mid-2016, the 2011...
View ArticleRegRoundup 4 April: the pursuit of clarity
In the post-Easter week, regulators were busy shining a spotlight on remuneration practices in the industry. We saw the EBA releasing a report looking at the high earners in EU banks and ESMA focusing...
View ArticleKID Sent to the Naughty Corner- European Parliament rejects PRIIPS rules
On the 14 September 2016 there was a staggering majority vote against the EU Commission’s Regulatory Technical Standards (RTS) for the PRIIPS key information document (KID), at 602 to 4, with 12...
View ArticleESMA on commodity derivatives: Taking stock
On 19 December 2016, ESMA published its Q&A paper on the topic of commodity derivatives within MiFID II and MiFIR. The document focuses on the promotion of supervisory approaches and practices for...
View ArticleMAR and commodity derivatives: An inside scoop
Following on from last month’s Q&A on commodity derivatives within MiFID II/MiFIR, on 17 January ESMA published its guidelines for the disclosure of inside information on commodity derivatives and...
View ArticleCommodity derivatives: Position reporting and position limits under MiFID II
Commodity derivative trading is just one of the many topic areas under MiFID II that firms need to ensure they are prepared for before 3 January 2018. One set of measurements in this area is that firms...
View ArticleUnity of purpose, unity of action – a call for better reporting capabilities
Following one of the Trump administration’s financial executive orders, the US Treasury Department issued a report which calls for regulators to streamline reporting obligations and review their...
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