Sviatoslav Rosov, PhD, CFA, is Director, Capital Markets Policy EMEA at CFA Institute. He is responsible for developing research projects, policy papers, articles, and regulatory consultations that advance CFA Institute policy positions, focusing on market structure and wider financial market integrity issues.
Equity listed on public markets is the bedrock that underlies the valuation of many other growth assets, similar to the function sovereign debt plays for corporate bonds. It is also the focus of a huge amount of analysis (much of which is undertaken by CFA Institute members) and regulation.
The Systematic Internaliser (SI) regime could essentially recreate broker-crossing networks, which MiFID II was intended to prevent.
A navigation on the jargon of AI plus throwing some cold water on the AI hype machine. Machine learning is a useful and powerful tool, but it is no more than that.
The question of whether the blockchain will end up as nothing or everything continues to be asked with no definitive answer as of yet.
Although recent European Commission report on corporate bonds is welcome, CFA Institute believes it missed an opportunity to emphasize other recommendations for improving demand for corporate bonds.
High-frequency trading (HFT) was front-page news not too long ago, but fintech has taken that spot. But could the road ahead for fintech end up looking the same as its been for HFT?
Alternative data is already being used by investment managers, but one of the bigger questions is whether it is worth the cost — not only the upfront costs, but also the opportunity cost.
Advances in technology are gaining visibility in the world of investment management, but how it will be regulated remains an issue, especially when it comes to protecting investors.
There has been a surge in Initial Coin Offerings and the reasons behind it seemed to be related to diversifying away exposure to Bitcoin.
The interest in fintech worldwide shows no signs of abating, but there are variations in what "fintech" means in different countries and depends on the needs of local economy.
ESMA uses the existing rulebook to clarify the question of when systematic internalization activities cross over into functionally operating as a trading venue.
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