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ESMA consultation paper on guidelines on systems and controls of trading venues and investment firms. (Direct electronic access). July 2011.
CESR (ESMA´s predecessor) established, on november 2010, a Task Force on micro- structural current issues of the markets (high frequency trading, algorithmic trading, sponsorized access, co-location, tick size” etc.), and ESMA has published, on the 20th of july a consultation paper about guidelines on Systems and controls of both trading venues and investment firms in…
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Presentación
PRESENTACIÓN. La Comisión Europea ha presentado, en estos últimos cuatro meses, al Consejo y al Parlamento Europeos para su discusión y posterior aprobación tres propuestas muy importantes para los mercados de valores en la UE: el primero, propuesta modificación de la de la Directiva sobre mercados en instrumentos financieros (MiFID); el segundo, propuesta de Directiva…
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Foreword
FOREWORD In the last for months, the European Commission has adopted three important proposals for the securities markets in the UE, that have passed to the European Parliament and to the Council for negotiation and approval: first, proposal for a Directive on markets in financial instruments repealing Directive 2004/39/EC (MiFID); second; proposal for a Directive…
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Consultation Report: Issues Raised by Dark Liquidity. November 2010.
This report, prepared by the Standing Committee on Secondary Markets (TCSC2) and submitted to public consultation, analyses the characteristics of dark pools and dark orders and their current regulation in major jurisdictions. It also outlines the problems that may arise due to the development of this activity from a regulatory point of view and proposes…
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PRESENTACIÓN
PRESENTACIÓN. Las reformas de las organizaciones supervisoras financieras han seguido protagonizando, en estos últimos cuatro meses, la actualidad en la actividad regulatoria de los mercados de valores. En Europa, tanto el Reglamento de creación de la nueva estructura de la supervisión financiera como la Directiva Omnibus -que introduce todos los cambios consecuencia de la creación…
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PRESENTACIÓN
FOREWORD The changes in the supervisory architecture have still been, during the last four months, the main of the securities markets current issues. In Europe, the Directive establishing a new financial supervisory frame and the Omnibus Directive –which introduces all necessary changes resulting from ESMA in different Directives currently in force- have been approved by…
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PRESENTACIÓN
Las reformas de las organizaciones supervisoras financieras, de nuevo, han sido el centro de la actividad regulatoria de los mercados de valores durante los últimos cuatro meses. En Europa, el Reglamento de la UE nº 1095/2010 del Parlamento Europeo y del Consejo, de 24 de noviembre (Diario Oficial de 15 de diciembre 2010) crea una…
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Foreword
The changes in the supervisory architecture have again been the core of the securities market regulatory activity over the last four months. In Europe, the UE Regulation nº 1095/2010, of the European Parliament and of the Council, of 24 November 2010, (published 15 December 2010) established a European Supervisory Authority, the ESMA (European Supervisory Markets…
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Glossary
Glossary of acronyms Acronyms English Spanish ANNA / ISO Association of National Numbering Agencies / International Organisation of Standarization Asociación de Agencias Nacionales de Codificación/Organización Internacional de Estandarización BCBS Basel Committee on Banking Supervisors Comité de Basilea de Supervisores Bancarios CEBS Committee of European Banking Supervisors Comité Europeo de Supervisores Bancarios CEIOPS Committee of European…
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CNMV private data protection policy
According to the organic law 15/1999, 13 December, about private data protection, and taking into account article 5, related to the right of access to the information in the data collection, the CNMV states that: the data obtained through your subscription will be integrated in a file managed by the CNMV, as sole holder, receiver…
