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EU proposes direct ESMA oversight for major trading venues

Residents walk in front of the Berlaymont building, headquarters of the European Commission, after heavy snowfall covered the streets on January 07, 2026 in Brussels, Belgium.
Photo: Omar Havana/Getty Images

Jean Hurley

3 min read
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We consider ​industry pushback and sovereignty concerns with Tom Callaby, CMS; and Miroslav Đurić, Taylor Wessing.

​The European Union is moving to strip national regulators of their oversight power over the bloc’s largest bond and swap platforms, bringing heavyweights such as Bloomberg and Tradeweb under the direct supervision of the European Securities and Markets Authority (ESMA).

​According to a leaked document seen by Risk.net

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