- Europe's asset managers badly want the EU's consolidated tape to name the venues where the best quotes are available. They will have to wait at least two years for anything to happen.
- The region's banks, however, are pressing for interoperability at all "major CCPs", which is code for Eurex Clearing and Euronext Clearing. Mandating interoperability for smaller CCPs as well would have far-reaching consequences.
- Someone has asked ESMA whether there is any wiggle room in the impending ban on payment for order flow. The EU's markets regulator has closed all the possible loopholes.
- SIX Group CEO Bjørn Sibbern argues that European companies would do better to list in Europe than in the US. Successful IPOs in Europe would be the best advert for the old continent.
- The London Stock Exchange trades the first shares of a private company next week. But a rival venue for stakes in private businesses has beaten it by a couple of days.
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