Events listed in Retained Markets in Financial Instruments Regulation (UK MiFIR)
MS23/1.3: Market Investigation Reference Notice
ID 24779
Following the launch of a wholesale data market study relating to benchmark providers in March 2023 (please see EventID 20018 for more information), the Financial Conduct Authority (FCA) has published a notice in this context. Therein, the FCA seeks view on its decision to refrain from referring this matter to the Competition & Markets Authority (CMA) for further investigation pursuant to [section 131A of ...
Revocation of FCA transitional direction for the share trading obligation
ID 24758
On August 29, 2023, the Financial Conduct Authority issued a notice in which it revokes its transitional directions as regards the share trading obligation (STO) of investment firms that were implemented following Brexit under the Temporary Transitional Power (TTP) of the regulator which was created by the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019. The revocation is a direct consequence ...
Variation of FCA transitional direction for the derivatives trading obligation
ID 24745
On August 29, 2023, the Financial Conduct Authority issued a notice in which it modifies its transitional direction as regards the derivative trading obligation (DTO) of firms that was implemented following Brexit under the Temporary Transitional Power (TTP) of the regulator created by the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019. The modification is a direct consequence of the coming ...
Supervisory flexibility on transaction reporting
ID 24424
On July 27, 2023, the Financial Conduct Authority, FCA, has published a press statement concerning transaction reporting requirements of trading venues and investment firms. The FCA thereby notes the following: In January 2022, temporary measures were enacted concerning the reporting of the short selling indicator under UK RTS 22. These measures ensured that firms failing to report the indicator would not face consequences, pending ...
Market Watch 74
ID 24364
The Financial Conduct Authority (FCA) has published a new edition of its Market Watch (No. 74). This latest version primarily deals with the findings from the FCA’s recent review of firms‘ transaction reports in accordance with Retained Commission Delegated Regulation (EU) 2017/590 (RTS 22), and „the submission of financial instrument reference data“ under Retained DelReg (EU) 2017/585 (RTS 23). The FCA thereby highlights the ...
PS23/4: Improving equity secondary markets
ID 23100
Following the launch of a consultation (CP22/12) on proposed revisions to the operating rules of UK-based equity markets (changes to the Retained Markets in Financial Instruments Regulation (UK MiFIR)), the Financial Conduct Authority, FCA, has now published a corresponding final policy statement (PS23/4). Therein, the regulator briefly summarizes the feedback it has received to its consultation and stipulates the final rules as they came ...
The application of the derivatives trading obligation to certain credit default ...
ID 22578
In view of the discontinuations of credit default swap (CDS) clearing services by ICE Clear Europe Ltd. (ICEU) in October 2023 and to faciliate migration to other central counterparties (CCPs), the Financial Conduct Authority (FCA) has published a press statement. Therein, the Authority states that it will refrain from enforcing the trade execution obligation under article 28 of UK MifIR which would normally require ...
Wholesale trade data review – findings report [pdf]
ID 22108
The Financial Conduct Authority, FCA, has published the findings from a recent review of the market on trading data which is naturally dominated by large trading venues and which is of great importance to a wide range of users. Such users are, for instance, fund managers that use trade data to identify investment-worthy assets or to investment firms which need trade data to comply ...
Financial Conduct Authority to tackle competition problems with the trade data ...
ID 22107
In view of the recent findings from a review of the market on trading data which is important to a wide range of users including asset managers and investment firms (please see EventID 19931 for a detailed description of the findings), the Financial Conduct Authority (FCA) is now launching a so-called wholesale data market study. The purpose of the study is to find out ...