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Top related persons:
Long - 1 Danuta Huebner - 1 David Schwimmer - 1 Huw Jones - 1 Mark Potter - 1
Top related locs:
London Brussels United Kingdom EU Frankfurt Madrid
Top related orgs:
European Union - 1 EU - 1 London Stock Exchange Group - 1 Deutsche Boerse - 1 European - 1 Thomson - 1

Search resuls for: "Danuta Huebner"


4 mentions found


☆ EU committee backs law to relocate euro clearing from London to bloc
  + stars: | 2023-11-28 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, Nov 28 (Reuters) - An influential committee of European Union lawmakers voted on Tuesday in favour of a draft law aimed at shifting clearing of euro-denominated derivatives from a post-Brexit London to the bloc. Long a Brexit battleground between London and Brussels, the EU wants better oversight of clearing in euro denominated interest rate swaps bought by EU-based market participants, the bulk of which are cleared by the London Stock Exchange Group in the United Kingdom. EU securities regulator ESMA would also have to become the direct supervisor of clearers based in the EU. LSEG CEO David Schwimmer has said he is "optimistic" that clearing in London for EU customers would continue after that date. EU banks have warned that being cut off from global clearing pools in London would put them at a competitive disadvantage to international rivals.
Persons: Long, Danuta Huebner, David Schwimmer, Huw Jones, Mark Potter Organizations: European Union, EU, London Stock Exchange Group, Deutsche Boerse, European, Thomson Locations: London, Brussels, United Kingdom, EU, Frankfurt, Madrid
☆ UK says financial reforms will be within same 'orbit' as EU, US
  + stars: | 2023-03-09 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, March 9 (Reuters) - Britain's revamped financial market rules will largely be aligned with U.S. and European Union regulations to minimise disruption to global companies, its financial services minister Andrew Griffith said on Thursday. The EU and United States have also set out market reforms and, with the British changes initially trailed as a "Big Bang"-style shake-up, global banks want to avoid major divergence in rules that bump up their costs. Griffith said Britain has a "clear vision" of ambitious practioner-led reforms to make the country's regulation more proportionate, simpler, modern and based on high standards. Danuta Huebner, a European Parliament member who is leading reform of EU securities rules, said the Edinburgh Reforms put increased emphasis on risk taking and competitiveness, but it was unclear if this will mean divergence from the EU. The 27-member bloc said this week it would activate a new forum for UK and EU regulators to exchange views, key to easing tensions over issues like derivatives clearing.
☆ EU lawmakers set up clash with member states over share trade ban
  + stars: | 2023-03-01 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, March 1 (Reuters) - A panel of European Union lawmakers were set for a clash with member states after they backed a draft law banning brokers from earning fees in return for directing share trades to specific trading platforms. The European Parliament and the EU bloc's 27 member states must now thrash out a joint position that would become law. "A ban of PFOF is a huge disservice to retail clients and to the Capital Markets Union as a whole," said Markus Ferber, a committee member from Germany, where many PFOF brokers are based. The proposed ban is part of a draft law to update the bloc's securities rules known as MiFID. The committee also backed reducing off exchange "dark trading" favoured by big investors to 7% of total trading from 8% at present, and below the 10% which EU states want.
☆ EU wrestles with Payment for Order Flow share trading rules
  + stars: | 2022-11-17 | by ( Huw Jones | ) www.reuters.com   time to read: +2 min
LONDON, Nov 17 (Reuters) - European Union states edged closer on Thursday to ditching a proposed ban on brokers earning fees in return for directing stock trades to specific trading platforms. The United States is considering whether curbs are needed for PFOF while the UK has already banned it. The EU ban was proposed in a draft law by the EU's executive European Commission updating the bloc's MiFID II securities law, with EU states and the European Parliament having final say. The Federation of European Securities Exchanges (FESE) said discussions on PFOF and consolidated tape risk "cementing fragmentation and opacity" in markets. However, Huebner said competitiveness of EU markets is essential given competition from Britain and the United States.
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