On 4 March ACI UK hosted a panel discussion on the potential outcome and impact of regulatory and FX Code consultations around Algo Trading.  Our esteemed panel of industry experts – Tjerk Methorst – PGGMA, Asif Razaq – BNPP, Rich Turner – Insight Investment and Christian Gressel, UBS – engaged in a lively debate, moderated by ACI’s Stephane Malrait, Chair of the FX Commitee.  Interest in this timely topic was reflected by the large number of participants that joined the event. Click on the image to view the video of the event and/or download the event summary here.

Many, many thanks to our panellists and moderator for their insight and commitment to supporting ACI and influencing industry best practice.  Contact inform@aci-uk.com for more information.

Background

European Securities and Markets Authority (ESMA), EU’s securities markets regulator, launched a consultation in December 2020 seeking input on the impact of requirements under MiFID II/MiFIR regarding algorithmic trading, including high-frequency algorithmic trading.(due 12/3/21)

In January this year, the GXFC Working Group on Algorithmic Trading and Transaction Cost Analysis (TCA) set out four areas of focus in the context of ongoing Global Code review:
• TCA and data availability:
• Control mechanisms and liability around use of execution algorithms
• dentifying and managing conflicts of interest by Market Participants providing algorithmic trading services
• Improving disclosures and user education in the context of on-going review of the FX Global Code.

Join us on 4 March to hear from front line market experts on proposed regulatory and governance changes to algorithmic trading and the potential impact of these on market participants.