Mifid II's on-venue shift is not all it seems

Author: Lizzie Meager | Published: 5 Apr 2018
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Mifid II's on-venue shift is not all it seems

While the volume of fixed income products and derivatives traded on-venue has spiked since January 3, the new directive has not forced the significant shift many predicted - and it's not all been in areas intended by the regulator. Plus, with some brokers under pressure from counterparties to become venues, the real impact is difficult to measure. But despite a shift in behaviour, sources including fixed income, rates and market structure heads at EU banks remain unsure that real transparency has been achieved  Read more...

CRD IV: banks anxious about post-Brexit liquidity

In-house sources explain how they're looking to avoid managing two separate liquidity pools post-Brexit as they anticipate a lack of third-country equivalence under CRR and CDR IV. According to Afme, they'd need to rebook roughly €1.28 billion of assets from the UK to a EU member state if no deal is agreed. Some firms are trying to minimise their Frankfurt business to reduce the duplicative capital liquidity impact, but many are unable to begin putting plans in motion in lieu of further ECB guidance  Read more...

Have your say on Libor reform

It's been close to a year since the FCA announced plans to phase out Libor by 2021, but little has actually changed so far. With up to $370 trillion worth of contracts based on it, this lack of consensus is a concern. Practice Insight is investigating how the market is responding to the FCA’s speech in documentation and pricing, how firms plan to approach the transition, and what participants really look for in a benchmark. Have your say now  Read more...

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