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Market Structure

Global derivatives markets function best when principles-based regulation can be applied across jurisdiction with as little cross-border friction as possible, allowing efficient price-discovery and fair competition.

  • FIA submits request for clarification on EMIR 3.0 active account representativeness

    FIA, ISDA and the European Fund and Asset Management Association have shared a paper with EU policymakers, requesting clarification on the implementation of the active account requirement under the European Market Infrastructure Regulation (EMIR 3.0) in relation to representativeness. The associations request regulatory guidance, with a view to standardising compliance and avoiding fragmented implementation of requirements across EU member states.

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  • Viewpoint – A hard reset: A return to recognition

    A recent policy document details the return of the UK’s recognition approach for regulating cross-border business that the UK helped develop nearly forty years ago. This nuanced change would unlock tremendous capacity for our industry to grow and return our markets to a more outcomes-based approach that could kick-start productivity in our global markets.

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  • EU T+1 Industry Committee publishes road map for T+1 settlement transition

    The EU T+1 Industry Committee has published a high-level road map for the transition to a T+1 settlement cycle for securities on 11 October 2027. The road map contains a set of recommendations developed collaboratively by association representatives and workstream leads from various industry segments. 

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  • FIA responds to ESMA consultation on EMIR 3.0. clearing thresholds regime

    FIA has responded to ESMA’s consultation paper on draft technical standards, which provide further details for the new EMIR 3.0 clearing thresholds regime. FIA broadly agrees with the proposed uncleared thresholds but raises concerns about the reductions for IRDs and commodity derivatives, citing inflationary pressures and the importance of maintaining competitiveness with other jurisdictions.

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