Did the EU financial regulation cause the Brexit?
Wednesday, 29 June 2016 23:26

 

Why Britons left - competing hypotheses are attacking us in every article. There is no use to object to dominant trends, hence I'll also try to present some propositions in that regard.

 

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Title transfer collateral arrangement, emission allowances and SFTR - difficult coexistence
Tuesday, 28 June 2016 06:00

 

The practical issue, maybe obvious, but I would like to know for certain: do SFTR apply to title transfer collateral arrangements in emission allowances?

 

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Position limits: less than one-day divergence in delivery dates between OTC and an exchange-traded contract will not stop the EEOTC qualification
Monday, 13 June 2016 06:00

 

Crafting the EU position limits legal framework seems to require an immense creativity along with an extreme caution on the part of European legislators.

 

Dealing with this unprecedented task reveals problems so far unknown, nevertheless of an utmost practical importance.

 

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"Equivalent" does not always mean the same - remarks on the ground of the new financial instruments' definition
Thursday, 12 May 2016 23:00

 

Commission Delegated Regulation of 25.4.2016 implementing MiFID II represents the coup de grâce for the hotly-debated topic of equivalency as the criterion for the differentiation of forward contracts being financial instruments from other physically settled OTC derivatives.

 

This step change from purely formal criterion based on the literal wording of the contract to the objective metric dependent only on verifiable trading data seems, however, as it stands, unworkable for legal practitioners.

 

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Back office alert - OTC contract admitted to trading at the organised market place
Monday, 25 April 2016 06:09

 

Do you still deliberate how often the list of organised markets must be checked?

 

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ACER Code - a universal pass to the EU energy market?
Monday, 04 April 2016 06:00

 

Is it formally correct to conclude a contract in the wholesale energy market with the counterparty that has not registered in the European Registry of Energy Market Participants and, consequently, does not have the ACER Registration Code?

 

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Contracts 'that must be physically settled' under MiFID II - the role of balancing agreement with TSOs determined
Wednesday, 22 June 2016 00:00

 

The ability test for "contracts which must be physically settled" (i.e. contracts falling under Sections C6 or C7 of the Annex I of the MiFID Directive, depending upon the place of execution) has taken its final - as it seems - shape.

  

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CSCF invalidated, but not entirely
Tuesday, 31 May 2016 06:00

 

Judgment of the Court of Justice of the European Union of 28 April 2016 (C‑191/14, C‑192/14, C‑295/14, C‑389/14 and C‑391/14 to C‑393/14) creates dual system of the CSCF's application within the same, third trading period of the EU ETS, as both legal frameworks - the invalidated, and the new one - will be binding, however, for different years.

 

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Systematic internalisers thresholds for emission allowances and emission derivatives determined in the MiFID II delegated Regulation
Monday, 09 May 2016 00:06

 

As you certainly know emission allowances and emission derivatives are the asset classes for which - as from the MiFID II entry into force (3 January 2018) - the systematic internalisers' thresholds must be counted.

 

Numerical values of these thresholds became clear on 25 April 2016.

 

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World of thresholds
Tuesday, 19 April 2016 21:05

 

Every self-respecting EU legislative act must possess its own numerical thresholds, each of them of critical importance.

 

In order not to be monotonous, let's mention only few of them: MiFID II ancillary exemption threshold, EMIR collateral threshold, clearing threshold.

 

In this context it should not surprise anybody, the new Market Abuse Regulation (MAR) also operates with this technique, and what is particularly interesting for this website, MAR thresholds influence heavily emissions market.

 

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Final customers' REMIT reporting - D-Day 7 April 2016
Monday, 07 March 2016 06:04

 

The scope for final customers reporting under the REMIT Regulation occurs much more extensive than anyone could so far expect.

 

Read more...
 
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