MiFID II
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A New Era in Bilateral Liquidity
As buy-side traders cope with fragmented liquidity and stagnant volumes in the continuous, lit European equity markets, institutions have forged direct relationships with market makers as an alternative channel. While bilateral liquidity has existed for …
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Europe’s Fragmented Liquidity Challenge
Fragmented liquidity in the UK and European equity markets has posed a challenge for the buy and sell sides for many years. But the migration of volume away from lit markets to systematic internalizers and auctions has gained attention from market structure data experts.
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Amid Volatility, European Buy-Side Turns to Program Trading and Systematic Internalizers
In the past, European traders increased their allocation to algorithmic/direct market access (DMA) while reducing high-touch trading. This year, the biggest increase was seen in program trading by about 34%.
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Key Takeaways from Institutional Investor 2021 International TraderForum
Input into FlexTrade’s development and product roadmaps across our multi-asset suite of EMS solutions comes from many sources. Of course, regular client meetings, discussions with consultants, and our ongoing internal investment in research and development …
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A Year in Review: Top FlexAdvantage Blog Posts in 2019
Topics such as market data costs, natural language processing, MiFID II research unbundling, Algo Wheels, exchange startups, market structure, dark pools, and desktop interoperability, resonated with the readers of the FlexAvantage industry blog.
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U.S. to Study Effects of MiFID II Research Unbundling
U.S. lawmakers authorized a study focusing on the provision of investment research for small issuers, a sign they are wary of the U.S. adopting the European Union’s MIFID II unbundling rules which have brought sweeping changes to the research business.
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MiFID II Research Unbundling Spreads Uncertainty to the U.S.
By Ivy Schmerken Eighteen months after MiFID II rules to unbundle research payments from executions have been in force in Europe, U.S. asset managers are dealing with uncertainty around paying for research and how to …
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MiFID II Reaches Across the Pond: Is This the Calm Before the Storm?
Despite the view that MiFID II is a European regulation, US investment managers are experiencing disruption as they align their research payment and execution practices with the influential standard.
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MiFID II Post-Mortem Cites Delays on LEIs and Data Quality as Key Challenge
With the rollout of such a massive regulation as MiFID II, there are bound to be some hiccups, but so far firms are mainly wrestling with trade reporting and data quality issues. That sentiment was expressed on a webinar hosted by A-Team Group, MiFID II Trading Technology Requirements: What Worked and What Hasn’t? in which panelists aired their views on the most challenging aspects of the implementation and areas that need improvement.
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MiFID II’s Trading Hereafter: Systematic Internalizers & Block Venues
MiFID II went live on Jan. 3 without much fanfare, but the EU regulation is already shifting trading behavior toward Large-in-Scale block trading venues and new venues called systematic internalizers run by banks and high frequency trading firms. FlexTrade’s Ivy Schmerken examines.
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Seeking Clarity on MiFID II Inducement Trading Rules
With MIFID II’s rules on inducements now a reality, buy-side firms are paying close attention to the costs associated with their front-office trading platforms and analytics. The EU regulation, which took effect on Jan. 3, could draw scrutiny to execution services and tools that are sponsored by brokers, such as order management and execution management systems as well as trade analytics. FlexTrade’s Ivy Schmerken investigates.
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Our Top 10 FlexAdvantage Blog Stories for 2017
2017 has been an interesting year for the FlexAdvantage blog’s coverage of industry news. Government regulations, such as MiFID II and the fixed income trading protocols, were obvious highlights, as were issues concerning data usage, the advent of augmented reality in trading, fragmentation in the options markets, and trends in currency markets. Check out our countdown of the Top 10 FlexAdvantage Blog posts for 2017.