Article reports that the FCA has been looking into brokers’ practices to detect possible abuses on the ban on payment for order flow (PFOF) as the rule didn’t apply to all brokers and banks and because the specifics of what constitutes as a breach isn’t always clear. Article includes comments from Alex McDonald and David Clark highlighting how regulators may be trying to draw a line under the PFOF issue
for several reasons, namely, that it originated from the exchange-traded equities market, rather than the derivatives market; that there have only been isolated evidence of malpractice; and that the FCA wouldn’t want these rules to undermine the UK’s attempts to maintain regulatory equivalence with the EU.
Article reports that continental gas volumes grew by 29% YoY on European brokered markets, led by a 38% surge in Dutch TTF volumes to 15,606 TWh, according to data from LEBA. Similarly, LEBA’s data also showed that API2 financial coal volumes dropped 31% to 464m tonnes in the first three quarters of the year.