D Börse and NYSE investors face failure
Jeremy Grant in the FT quotes Roger Barton, managing director of Financial Reform Consultancy. “Far from dampening down consolidation, a failure of DB/NYSE could re-invigorate it. The drivers – economies of scale and globalisation – are still there, even though people are acutely aware of the competition issues.”
LSE uses eurozone crisis as opportunity to revamp bond offering
MIFID II SETS UP CLASH BETWEEN VOICE TRADING AND TRANSPARENCY
Joe Rennison writes in Risk Magazine about the likely transparency requirements for derivative platforms in MiFID II. Much of the detailed provisions relating to transparency are being delegated to level II, putting much responsibility on ESMA. Roger Barton, founder and managing director at Financial Reform Consultancy, says concerns are being voiced not just by the industry, but also some regulators.
Buy-side firms await regulatory clarity
Chiara Albanese in FX Week provides an update on the progress of regulatory reform measures. “There is scope for a reverse globalisation process triggered by the extraterritorial and isolationist effect of some of the rules and resultant retaliatory measures. This could ultimately result in clearing arrangements and regulatory requirements becoming localised. I hope this will not happen and I don’t think it will happen, but it is a potential threat,” says Roger Barton, managing director at Financial Reform Consultancy in London.
Investor tensions grow over asset safety
Michelle Price reports in Financial News on steps in EMIR to provide individual client segregation. Roger Barton, founder and managing director of the Financial Reform Consultancy, an independent financial market advisory firm, said: “The buyside wants the same type of segregation and asset security they are able to enjoy in the OTC markets. There is a general agreement that clients should get the benefit of segregation in a centrally cleared environment as an option on reasonable commercial terms, but everyone is trying to get to grips with how it would actually work.”