The regulator will consider all comments received by 16 October 2024.
On May 29, 94.55% of transactions were affirmed by the DTC cutoff time of 9:00PM ET on trade date.
The rules establish EU-level ‘consolidated tapes’ across assets.
Legislation includes mandatory contribution from trading venues, a single consolidator model real-time data.
Standardized credits can be created & distributed with full auditability through the transaction lifecycle.
Impact was mitigated on London’s Alternative Investment Market by NOMAD requirement.
The bill directs the SEC to extend the MiFID II no-action relief for six months.
This harms the competitiveness of U.S. markets and buyside will lose access to important research.
Some US brokers may lose European revenues and many European managers will have less access to US research.
