- The UK's Financial Conduct Authority and the Bank of England have fired the starting gun on the tokenisation of mainstream financial assets. The European Securities and Markets Authority is under great pressure to react.
- Britain's central bank is less happy with the FCA's plan to ease capital requirements for market makers. But will making UK rules comparable to those in the US really pose risks to financial stability?
- ESMA has produced its own dataset of where and how European equities are traded. The onus is now on opponents of alternative venues and SIs to back their arguments with data.
- Nasdaq has set up a broker in Amsterdam to get around the EU-wide effective ban on trajectory-crossing venues.
- Euronext has assimilated the Athens Stock Exchange. The matching engine will follow next year, and the clearinghouse and CSD in 2029.
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