Algo Monitoring

Originally published in Markets Media Algo trading has grown increasingly complex over the last decade. In 2007, the Markets in Financial Instruments Directive (MiFID) permitted competition with the national stock exchanges who had previously monopolised equity trading. As venues proliferated, smart order routers and dark pool algorithms were introduced in the region to navigate the […]

By: Martin Appiah, Director of Regulatory Affairs, EMEA The European Securities and Markets Authority (ESMA) recently published a MiFID II Review Report on algorithmic trading, which heralds significant changes. This white paper summarises the review report’s likely impact on market abuse systems and controls and the general outcome of the ever-evolving interplay between algorithms and

On September 28, 2021, the European Securities and Markets Authority (ESMA) released the “MiFID II/MiFIR Review Report on Algorithmic Trading.” While there were no fundamental issues uncovered by the report – and the regulatory regime for algorithmic trading as set out in MiFID II and MiFIR has for the most part delivered its objectives –

On June 24th, the London-based FICC Markets Standards Board (FMSB) published a new Statement of Good Practice (SoGP) on Algorithmic Trading in FICC Markets and invited all interested parties to comment on the proposal by Friday, August 21st. The SoGP seeks to further enhance the integrity and effective functioning of FICC markets by promoting good

As markets have evolved rapidly over the past two decades, regulators have faced the difficult task of adapting to the new realities brought about by the emergence of electronic trading. New trading practices, particularly with algorithmic trading, have dramatically altered the structure of the market and introduced new risk factors that were never envisioned when