Views on improving the integrity of global capital markets

industry competition

Capital Markets Union Update: Creating Regulatory Framework for EU Financial Sector

Whether the changes will be cosmetic or profoundly far-reaching will depend on the ambitiousness of the policy-makers in the European Commission, Parliament, and the Council (representing EU Member States).

Did Investor Stop Orders or Liquidity Disincentives Cause Aug ’15 Flash Crash?

Dennis Dick, CFA: “Circuit breakers and warning systems for stop or market orders are mere band-aids for potentially larger underlying market structural issues ...."

Europe’s Capital Market Union: Task Force Report Sets out Long-Term Vision

Report reveals 36 barriers to the development of a truly pan-European CMU; findings complement CFA Institute member survey results.

China’s Circuit Breaker: Boon or Bane?

China’s circuit-breaker mechanism got a workout its first day in use due to extreme market volatility. Three days later, China suspended use of the safeguard until further notice. Here’s our take.

EU Financial Services Legislative Outlook: What to Expect in 2016

With 2015 slowly drawing to an end, it is time to have a look at what the New Year will bring in European financial services legislation.

Does the EU Capital Markets Union Action Plan Answer Investors’ Concerns?

EU CMU Action Plan broadly addresses investor concerns, but how will it tackle key challenges?

Investors Beware: New Dark Pools Report Issues Warning

Conclusions of Healthy Markets report on recent dark pools misconduct is sobering.

Will Blockchain Change Wall Street? The More Things Change, the More They Stay the Same

Svi Rosov, CFA: “People awaiting the demise of the modern financial system may be disappointed.”

Shadow Banking: Friend or Foe?

The focus on shadow banking has shifted from systemic risks to the role it can play in improving access to capital. But safeguards are needed.

Chinese Shadow Banking: Solution or Problem?

Although China held just 4% of global shadow-banking assets in 2013, Chinese investors worry about systemic risk.

Shadow Banking Set in Context: Unlocking Capital Markets or Migrating Risk?

What does shadow banking really mean, what does it look like, and what should policy makers care about?

HFT Strategies: Why the Sudden Fuss over Speed Advantages?

Are HFT speed advantages wrong, or simply taking advantage of inefficiencies in an imperfect market?

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