ESMA Guidelines – turning change into opportunity

Anne PlestedBack in December last year you may recall that ESMA issued guidelines on systems and controls in an automated trading environment. The headlines from those guidelines caused a steady ripple of activity across the industry, in the first few months of 2012, as firms reviewed their processes and procedures to ensure compliance by the 1st May deadline or worked to have a plan in place to achieve it.

The translations of ESMA’s final guidelines were published on 24th Feb 2012. There was no official implementation period that you would normally expect with any change coming from Brussels, mainly because little change was envisaged by ESMA. The guidelines were cited as being based on industry best practice that was, in the main, already in place. In the past few months the guidelines have been at the centre of several interesting discussions and are now at the core of a number of industry body initiatives to develop best practice in advance of any new regulation coming in the MiFID and MAD reviews. Fidessa sees compliance as more than just a check list; we are working with our customers to turn change into opportunity and are fully engaged with the debate on best practice.

These slides provide an overview of the main guideline themes and discussion points; highlighting Fidessa’s ability to support our customers in complying as best practice evolves.

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