In response to the global financial crisis in 2008 and with the aim of making trading more transparent and secure, national and supranational supervisory authorities have introduced market regulations to curb systemic risks and prevent and uncover market manipulation.
EMIR and counterparts such as USDF, MAS and ASIC in derivatives trading, the MIFID/MiFIR regulation in relation to securities and ensuring pre- and post-trade transparency, SFTR, through to the regulation of electricity and gas trading under REMIT. These are the circumstances.
