FCA moves to consult with industry on UK consolidated tape model as back and forth continues
Latest development follows last week’s milestone agreement from European Council and Parliament to introduce a consolidated tape in the EU.
Tag: FCA
CFTC issues no-action letter for swap data reporting requirements to ease burden of LIBOR transition
Recommendation from the Division of Market Oversight (DMO) and Division of Data (DOD) relates to swaps transitioning from USD LIBOR to risk-free rates.
Demand for integrated surveillance doubles as regulators up pressure
Surge comes as SEC logged a record $6.4 billion in penalties last year.
Equities
Overseas reference prices, outages industry taskforce and SI reporting overhaul among new FCA reforms
Wholesale Markets Review reforms range across post-trade transparency, OTC transaction reporting, use of reference prices from overseas venues, tick sizes, and market outages.
FCA extends expiration deadline of synthetic US dollar Libor to September 2024
Synthetic US dollar Libor will run until 30 September 2024, however, the UK regulator stresses that firms should continue to actively transition away from Libor.
New research finds some buy-side firms paying 26 times more than others for index data as FCA investigation continues
Disparity in pricing doubles since last Substantive Research review in October; follows FCA’s conclusion last week that competition in wholesale data markets is not working.
Exclusive
FCA confirms tender process for UK consolidated tape
The UK watchdog today confirmed its decision to go with a single CT model chosen by tender process; while the European Parliament has finally come down in favour of the Mifir/Mifid II amendments suggested by MEP Danuta Hubner last year. Could a consolidated tape finally be on the cards?
Competition in wholesale data market is not working, first phase of FCA investigation finds
UK watchdog report finds that some markets are concentrated among just a few firms, leaving little choice for institutions, while the data selling process is too complex.
ION has reportedly paid the ransom – but could it cause more harm than good?
The firm plans to rebuild rather than restore, despite rumours that the ransom has been paid – but could it be liable for a regulatory penalty in response?
UK government outlines plans for ‘tradfi’ crypto regulation
The “robust” plans propose stricter limits on crypto lending, as well as the introduction of a new crypto market abuse regime and tighter rules on the role of financial intermediaries and custodians.