Vedder Thinking | News Sam Tyfield Weighs in on Europe’s Ever-Changing Regulatory Landscape in HFT Review
May 28, 2013
Sam Tyfield, a Partner in Vedder Price’s London office and a member of the firm’s Investment Services and Finance & Transactions groups, was recently interviewed by HFT Review. Mr. Tyfield walked the interviewer through the latest developments in Europe’s ever-changing regulatory landscape and helped to further explain some of the complexities.
Topics included the French and Italian Financial Transaction Taxes (FTTs), as well as implementation of the 11-member European Union FTT (expected to come about in the middle of 2014) and its wide-reaching impact. Mr. Tyfield also touched on key points within the German High Frequency Trading (HFT) Act, including how the German definition of high-frequency trading is different from that of the European Union. Additionally, he discussed how the Market Abuse Directive and the Market Abuse Regulation are evolving, as well as how trading firms are reacting to the ESMA guidelines of 2012.
Mr. Tyfield ended the interview by saying, “There is a lot for the industry to digest at the moment and this is on top of the fact that it needs to do business.” He added, “[T]here are markets elsewhere in the world, outside the EU and the US, which are developing or which are showing signs of opening up to algorithmic traders—like Russia—and those markets have a fantastic opportunity to learn what we’re doing right and what we’re doing wrong.”
To read the full interview, please click here.