On April 29, 2022, ISDA responded to the European Securities and Markets Authority’s (ESMA) consultation on the trading venue perimeter, with the aim of clarifying the meaning of multilateral systems under the Markets in Financial Instruments Directive /Markets in Financial Instruments Regulation. In its response, ISDA highlights the need to differentiate between systems allowing for multiple bilateral interactions, such as communication platforms and multilateral systems that set the rules of trading and should be required to have trading venue authorization.
Documents (1) for ISDA Responds to ESMA’s Draft Opinion on the Trading Venue Perimeter
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Response on EC’s SFR Proposal
On April 9, ISDA published technical comments on the European Commission’s (EC) proposed Settlement Finality Regulation (SFR) as it applies to designated EU systems and registered third-country systems. One significant concern is that the scope of insolvency protections provided to...
Natixis CIB Adopts ISDA’s DRR
ISDA has announced that Natixis CIB has adopted ISDA’s Digital Regulatory Reporting (DRR) solution, enabling the bank to meet regulatory reporting requirements more efficiently and accurately. The ISDA DRR uses the Common Domain Model (CDM) – an open-source data standard...
Paper on MIFIR PTT
On April 7, ISDA, the Association for Financial Markets in Europe (AFME), the International Capital Market Association (ICMA) and the European Banking Federation (EBF) published a paper on proposals relating to post-trade transparency (PTT) under the Markets in Financial Instruments...
Data Integrity for Single-sided Reporting
On April 2, ISDA published a paper on why single-sided reporting does not compromise the quality and integrity of data received by supervisors. The paper addresses concerns among regulators that moving from dual-sided reporting would adversely affect the quality of...