ISDA comments on consolidated tape for derivatives and SSTI threshold

Article summary

The International Swaps and Derivatives Association has provided comments on two key issues related to the European Commission’s Markets in Financial Instruments Regulation (MIFIR) proposal, namely, the consolidated tape (CT) for derivatives and the removal of the size-specific-to-the-instrument (SSTI) threshold. ISDA has recommended several improvements to the Commission's proposal, warning that the proposed changes to the MIFIR will make the EU’s capital markets less competitive, both in terms of the ability of clients to access the best prices, and the ability of EU market makers to compete on price terms with their peers from outside the EU.