"This is not entirely accurate, but as a rough rule of thumb it seems fair to say that human traders
like opacity, because it rewards them for accumulating information and developing relationships, while electronic traders
like transparency, because the more information that is publicly available, the more of it they can crunch quickly to develop accurate prices and good trading strategies. Right now Treasury trades happen more or less without any disclosure, and the SEC is seeking comment on a Financial Industry Regulatory Authority proposal to require some disclosure, and some people think that's bad, while some people -- the ones with robots --
think it doesn't go far enough."
(Aug 18)
The Financial Stability Board published two final guidance papers to assist the resolution planning work of authorities and firms, as part of the policy agenda to end "too-big-to-fail":
The FSB identified their priorities for the remainder of 2016 and 2017:
Develop further guidance on central counterparty (CCP) resolution, building on the recently published discussion paper on Essential Aspects of CCP Resolution Planning which identifies elements that are considered to be core to the development of effective resolution strategies and plans for CCPs;
Finalize the remaining elements of the Total Loss-absorbing Capacity (TLAC) standard, including guidance on the implementation of internal TLAC and final proposals on TLAC holdings and TLAC disclosures;
Develop further guidance to support the resolution planning work of authorities and firms, including on ways in which access to financial market infrastructures can be maintained in resolution and on the operational execution of bail-in; and
Evidence Is Not Enough: There is a new and growing movement in our industry toward so-called evidence-based investing (which has much in common with evidence-based medicine)
