MiFID II best execution is not achievable, says FinTech experts
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Panellists agree that perfect best execution can’t be achieved and describe it as a ‘relative term’. By Hayley McDowell hayley.mcdowell@strategic-i.com October 06, 2016 11:10 AM GMT Demonstrating perfect best execution under MiFID II regulation cannot be achieved, according to industry experts from the financial technology (FinTech) world. A panel of FinTech veterans at The TRADE’s MiFID II: Best Execution in Paris this week told delegates that market participants may not ever reach best execution. Mark Ford, principal consultant at LiquidMetrix,
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Momentum Ignition: Arson for Financial Markets
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ESMA has defined momentum ignition as a case of prohibited market manipulation. ICE Canada considers this to be disruptive, and so does the CME Group. One UK government report stated that momentum ignition will “induce algorithms to compete with other algorithms, can push prices away from fundamental values.”* This leads us to the question - what exactly is momentum ignition? And how do we detect that is has occurred so that compliance teams can surveill for this prohibited activity? An
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