EPTA News
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FIA EPTA responds to ESMA consultation on amendments to settlement discipline in preparation for T+1
FIA EPTA has submitted a response to the European Securities and Markets Authority’s Consultation Paper on proposed amendments to Regulatory Technical Standards on Settlement Discipline. ESMA has proposed the RTS, which come under the Central Securities Depositories Regulation (CSDR), as part of the Refit process to improve efficiency of regulation, as well as to prepare for a shorter settlement period of T+1.
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FIA EPTA responds to IOSCO consultation report on pre-hedging
FIA EPTA supports the recommendations IOSCO has made in its consultation report. The association agrees that a genuine risk management rationale is a key factor in determining whether pre-hedging is acceptable. FIA EPTA also agrees with the factors dealers should consider when determining whether there is a genuine risk management purpose.
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FIA EPTA responds to FCA updated proposals on enforcement investigations
FIA EPTA and FIA have submitted a joint response to the Financial Conduct Authority’s second consultation on proposals relating to investigations and enforcement. While the associations appreciate the FCA’s efforts to address many of the concerns raised in the initial consultation phase in 2024, member firms remain convinced that the proposals, publicly referred to as ‘naming and shaming’, are unsuitable in UK wholesale markets.
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FIA EPTA co-signs trade association letter on gas price cap
FIA EPTA has joined other European trade associations in expressing strong concerns regarding the potential inclusion of a gas price cap in the forthcoming Clean Industrial Deal and the related Action Plan on Affordable Energy Prices.
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Chair of the European T+1 Industry Committee welcomes the official launch of the governance structure for the transition to T+1 Settlement Cycle
On 22 January, the European Securities and Markets Authority hosted the T+1 Governance Launch Meeting to present the arrangements for driving the move to the reduction of default settlement cycles to T+1 for EU securities markets. Members of the Industry Committee, including FIA EPTA and FIA, welcome the ESMA report, which identifies a pathway and a date for the transition to the T+1 settlement cycle.
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High-level roadmap for adoption of T+1 in EU securities markets
The European T+1 Industry Task Force, comprising 21 trade associations involved in European capital markets, has published a report titled "High-level Roadmap for Adoption of T+1 in EU Securities Markets."
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FIA EPTA response to the ESMA Third Consultation Package on MiFIR Level 2 measures
FIA EPTA response to the first section of ESMA’s Third Consultation Package on MiFIR Level 2 measures. This package includes proposed changes to RTS 1, the Liquid Market definition and equity CTP input/output requirements. FIA EPTA’s response is confined to the proposals regarding SI equity pre-trade transparency in RTS 1.
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FIA EPTA Response to the European Commission’s Targeted Consultation on Artificial Intelligence in the Financial Sector
Innovation has long been a catalyst for growth and opportunity in derivative markets. New technologies have fostered new business opportunities, new products and enhanced the accessibility and transparency of markets for existing and new participants. Furthermore, the evolution of technology has underpinned the global reach of our markets, breaking down geographic barriers and enabling global markets to compete and thrive while safeguarding customers and investors.
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Tide of Change: Enhancing Liquidity Provision to the European Economy
FIA EPTA has released its policy recommendations for 2024-29, under the title Tide of Change: Enhancing Liquidity Provision to the European Economy. The EU urgently needs to bolster its capital markets to achieve its strategic objectives for a safe, green and prosperous future for its citizens. To grasp the opportunities ahead and ensure the success of the Savings and Investment Union, the EU needs capital markets with deep and diverse liquidity.
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FIA EPTA response to the EBA’s Discussion Paper on the Commission’s Call for Advice on the Investment Firms Prudential Framework
FIA EPTA welcomes the opportunity to respond to the EBA’s Discussion Paper on the Call for Advice on the Investment Firms Prudential Framework (DP). We note that this DP offers limited discussion points and suggests many proposals for changes with no associated questions. We also believe that these proposed changes intend to borrow further requirements and methodologies existing in CRR.
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