FIA, joined by ISDA, has responded to the CFTC’s notice of intent to renew the collection of large trader reporting (LTR) data for physical commodity swaps. The associations reiterate and build on requests they have made in recent years for the CFTC to sunset the LTR rules for swaps, which were envisioned as a temporary measure while the CFTC stood up its comprehensive swap reporting framework under Dodd-Frank.
CONTINUE READINGIn the two years after the London Metal Exchange was forced to close its nickel market and cancel $12 billion in trades, the exchange has worked hard to win back the confidence of market participants through a number of reforms. Trading volumes are rising again, but open interest has not fully recovered, and two new competitors have emerged.
CONTINUE READINGThe US Commodity Futures Trading Commission's Agricultural Advisory Committee held a meeting on 11 April, in Overland Park, Kansas. This meeting preceded AgCon2024, the third Agricultural Commodity Futures Conference hosted by the CFTC and the Center for Risk Management Education and Research at Kansas State University.
CONTINUE READINGFIA welcomes the Financial Conduct Authority’s proposals regarding the revised bond and derivative transparency regime in the UK. Resilient and robust markets are of key importance to FIA members and FIA supports the consultation’s stated aim of streamlining transparency requirements so that they better reflect the nature and depth of liquidity in the market.
CONTINUE READINGOn 1 March FIA responded to a public consultation issued by the International Organization of Securities Commissions outlining a proposed set of “good practices” to promote the integrity and orderly functioning of voluntary carbon markets (VCMs). In the response, FIA commended IOSCO for fostering a much-needed dialogue on the issues surrounding the development of VCMs.
CONTINUE READINGFIA has submitted a response to the FCA’s commodity consultation. The FCA proposals are based on the UK’s wholesale markets review, initiated by HM Treasury in 2021. While FIA supports FCA’s goals of promoting market integrity and resilience, it is concerned about FCA’s proposed approach to the ancillary activities exemption.
CONTINUE READINGFIA has responded to the London Metal Exchanges's consultation on Daily Price Limits (DPLs). While supporting the LME's goal of creating a transparent market suspension framework based on consecutive DPLs, the response raises crucial considerations such as the impact on trading and clearing, trade confirmation processes, and the importance of clear communication.
CONTINUE READINGOn 11 December a coalition of agriculture and energy trade associations formally submitted two comment letters regarding the Basel III Endgame Proposal issued by the three main US banking regulators as well as the GSIB Surcharge Proposal issued by the Federal Reserve.
CONTINUE READINGFIA along with AFME, CMC Europe, EFET, Eurelectric, Eurogas, Europex, FESE, FIA EPTA, IOGP and ISDA has submitted a letter to European co-legislators urging them to delay the timing of the implementation of some of the obligations of the revised Regulation on Wholesale Energy Market Integrity and Transparency (REMIT II).
CONTINUE READINGFIA and several other trade associations have sent a letter to trilogue parties regarding proposed changes to Art. 9 of the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) concerning the supervision of third country firms. The associations urge legislators to adopt the least burdensome of the pending proposals, which would have third-country firms designate a representative to respond to requests for information. This contrasts with having to establish an office or move principal trading operations to the EU, which would create considerable market access barriers.
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