ESMA: Impact On Databases And IT Of No-deal Brexit
The European Securities and Markets Authority (ESMA) has today published a statement in relation to the impact on ESMA’s databases and IT systems of a no-deal Brexit scenario on 29 March 2019.
This statement complements the previous statement on the use of UK data in ESMA’s databases and performance of MiFID II calculations in case of a no-deal Brexit from 5 February 2019 and provides further details related to the operation of ESMA data systems during the period following a no-deal Brexit occurring on 29 March 2019.
This statement covers the actions related to the following systems:
Financial Instruments Reference Data System (FIRDS);
Financial Instrument Transparency System (FITRS);
Double Volume Cap System (DVCAP);
Transaction reporting systems; and
ESMA’s registers and data.
This statement also sets out ESMA’s further communication plan to external stakeholders.
IRS trading volumes have fragmented without an equivalence agreement.
Most EU member states had an increase in bankers earning more than €1m.
A structured home-office work mix can optimize a trading desk's efficiency, Fidelity's Tom Stevenson writes.
Staff will be working from a mix of home and the office.
ISDA urges the EU to grant permanent equivalence to UK CCPs.