FIA and FIA Europe Publish Fourth Report on ESMA Proposals Concerning High-Frequency Trading

The Futures Industry Association ("FIA") and FIA Europe published a report on MiFID II technical advice issued by the European Securities Markets Authorities ("ESMA"). The report focused on high-frequency and algorithmic trading and provided proposed definitions of those terms.

According to the report, MiFID II aims to develop "considerably stronger rules" concerning high-frequency trading and algorithmic trading to ensure that firms conducting these activities are subject to appropriate controls and oversight. The report also obligates firms to follow a consistent set of rules regarding software and risk management.

Related news: FIA and FIA Europe Issue Third Report in a Series Covering ESMA MiFID II Regulations (February 4, 2015); FIA and FIA Europe Issue Their Second Report in a Series Covering ESMA MiFID II Regulations (January 22, 2015); FIA and FIA Europe Issue First in a Series of Special Reports Regarding Summaries of ESMA MiFID II Regulations (January 15, 2015).