Our privacy policy describes how Fidessa uses cookies on our website. If you continue using our website, you are consenting to our use of cookies. OK

Anyone for MiFID 3?

I was chatting with the Reg folks here at Fidessa Towers yesterday and the spectre of MiFID 3 came up. Before you all jump off the window ledge there is no official notion of this yet, but when will the regulators feel that their work really is done? The direction of travel has been clear for a while – dismantle the current industry and replace it with something that is utilitarian,... Read More

Mexico blues

Back from a couple of weeks in Mexico where it seemed the whole world was going steadily insane (or maybe that was just the tequila). Anyways, it was reassuring to start the week with another “wow is that what they really meant?” moment whilst gorging on the never-ending box set known as MiFID 2. This time it’s about the obligations on brokers to report annually their... Read More

Brexit hangover

I was out fairly late last night at an industry function and almost forgot that I had an internal Brexit briefing here at Fidessa Towers this morning. As the memories of the fine Barolos I’d been served rescinded, I engaged with my dear friend and colleague Dr Voigt on what the whole Brexit thing might mean for our industry. Christian made some good points as usual, including... Read More

Brexit blues

Interesting to read over the weekend that London’s mayor Boris Johnson has decided to throw his charismatic and not inconsiderable weight behind the “NO” campaign. Most agree that this shifts the possibility of a Brexit from remote to now distinctly possible. I wonder, therefore, what this means for all the rules we are in the midst of implementing as part of MiFID,... Read More

Chinese Checkers

I was listening to a debate on the radio yesterday morning about the Chinese authorities’ inability to keep their financial markets in check. Amidst all the discussion on manufacturing indices, circuit breakers and the like, everyone on the show seemed to be missing the real point. Chinese financial markets are the perfect melting pot for capitalism and communism. Nothing... Read More

The train on platform MiFID 2 is delayed by one year

Not surprising to see that it now looks odds-on that we’ll get a full one year delay on the implementation of MiFID 2. This will embarrass the politicians who don’t want to be seen as going soft on those “reckless” bankers, but I assume Jo Public will have forgotten all about this by the time they’re up for re-election in 2019. It’s worth bearing in mind,... Read More

Can’t see the wood for the regulatory trees?

When you are immersed in an industry it’s sometimes difficult to see how it’s really changing. Global financial markets are a good example of this as the populist headlines can easily miss the subtlety of what is really going on. The polemic against misbehaviour by some market participants is obviously deserved (estimates of the total in fines and related costs are approaching... Read More

BATS auctions off the block problem

There has a been a lot of talk about how to trade blocks that are smaller than the LIS waiver but that are still too big to go to regular lit markets. The debate has been ratcheted up by the 4 and 8% dark pool caps that are part of the MiFID II spectre looming above us all. One approach, of course, is to chop your block into smaller pieces with an algo but this is becoming increasingly... Read More

Blockchain – the saviour of global finance?

At a recent event I was asked to pick three technologies that could really upset the capital markets applecart. Blockchain, the distributed ledger technology that underpins Bitcoin, was one of those that I selected. The best way to think about Blockchain is that it solves for the trust problem when two parties wish to transact with each other. It achieves this by distributing the... Read More

Time to sort RFQs?

I was reading my colleague’s blog today on RFQs and it looks like this could be another aspect to the slow motion car wreck otherwise known as MiFID II. The problem this time is that the regulators have completely redefined the whole RFQ model. Imagine I ring you up and ask you to make me an offer for a watch I am thinking of selling. Because we have traded lots of watches... Read More

Copyright © 2017 Fidessa group plc. All rights reserved.

The information contained within this website is provided for informational purposes only. Fidessa will use reasonable care to ensure that information is accurate at the time it is made available, and for the duration that it remains on the site. The information may be changed by Fidessa at any time without notice. We also reserve the right to close the website at any time. No representation or warranty, expressed or implied, is given on behalf of Fidessa or any of its respective directors, employees, agents, or advisers as to the accuracy or completeness of the information or opinions contained herein or its suitability for any purpose and, save in the case of fraud, all liability for direct, indirect, special, consequential or other loss or damages of whatever kind that may arise from use of the website is hereby excluded to the fullest extent permitted by law. Any decisions you make based on the information in this website are your sole responsibility and information on the website should not be relied upon in connection with any investment decision.

The copyright of this website belongs to Fidessa. All other intellectual property rights are reserved.

Fragulator® is a registered trademark of Fidessa group plc.

Reproduction or redistribution of this information is prohibited except with written permission from Fidessa.