EPTA News
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FIA EPTA response to the FCA Consultation on The Framework for a UK Consolidated Tape (CP23/15)
FIA EPTA agrees with the FCA’s proposal to appoint a single CTP per asset class through a tender process. Multiple providers would defeat underlying purpose of the Consolidated Tape of having a single golden source for data. Having a single CTP would also reduce the operational burden on data contributors and concentrate the customer base making the business model more economically viable.
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Trade associations call for deletion of active account proposal
Trade associations representing European end-users of derivatives and clearing service providers are united in criticism of the proposed Active Account Requirement under EMIR 3.0.
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FIA EPTA response to the HMT consultation on sovereign debt and credit default swaps under the Short Selling Regulation review
FIA EPTA supports the proposals set out in the Consultation. Whilst we acknowledge that the cover requirements under the Short Selling Regulation support settlement discipline in equities markets, we do not see the same need in the market for sovereign bonds and related CDS given the size and liquidity of these markets.
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FIA EPTA, FIA PTG support IOSCO efforts to develop digital assets framework
The FIA European Traders Association (FIA EPTA) and the FIA Principal Traders Group (FIA PTG) have responded to the Board of the International Organization of Securities Commissions (IOSCO) Crypto and Digital Asset Markets Consultation. The letter supported IOSCO’s efforts to foster the development of a consistent global regulatory framework for digital assets.
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FIA EPTA response to the EBA’s Consultation Paper on Draft Guidelines on resubmission of historical data under the EBA reporting framework (EBA/CP/2023/06)
FIA EPTA is broadly supportive of the laid-out draft guidelines on the resubmission of historical data and welcome the clarity it provides. We are however concerned that the numerical materiality thresholds (tolerance limits) outlined in paragraph 18 would result in a large volume of historical data resubmission for the vast majority of entities covered by these guidelines.
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FIA EPTA response to the EBA CP on Draft Guidelines on the benchmarking of diversity practices including diversity policies and gender pay gap
Although FIA EPTA members agree that transparency in general, and more specifically benchmarking, will contribute to achieving these objectives, we are of the opinion that especially the level of detail of the questions regarding the diversity policies are not appropriate in the light of these objectives and/ or need further clarifications.
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FIA EPTA Response to FCA Quarterly Consultation CP 23/14 – Deferral regime for transactions in ETFs priced at NAV
FIA EPTA welcomes the opportunity to provide feedback on the proposed deferral for ETF transactions price at NAV. Whilst it is positive to see the FCA engaging with a specific attribute of ETF trading, many of the concerns addressed by the NAV trade reporting deferral also apply to other ETF transactions priced by reference to an external reference price or benchmark.
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FIA EPTA response to the ESA’s Consultation Paper on the Review of SFDR Delegated Regulation regarding PAI and financial product disclosures
FIA EPTA members believe that exchange-traded derivatives (ETDs) are a key component of mature secondary markets. The recent growth in demand for listed ESG derivatives demonstrates that these products are a core component of sustainable investment strategies, especially since the availability of liquid and transparent derivatives significantly reduces funding and financing costs for equity and bond issuers in primary markets. The proposed approach by the ESAs would unduly disincentivise the use of derivatives in the affected financial products since any exposures to derivatives could not be counted toward the Taxonomy-alignment ratio. This would make it more difficult for end-users to use ETDs for managing their financial risks and in the process undermine the goal of having safe, liquid, and efficient markets that can support the green transition.
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FIA EPTA Response to HM Treasury Consultation on the Future regulatory regime for Environmental, Social, and Governance (ESG) ratings providers
FIA EPTA members welcome the opportunity to respond to HM Treasury’s CP on the Future regulatory regime for Environmental, Social, and Governance (ESG) ratings providers. FIA EPTA members welcome the actions and responsibilities taken by the UK Government and HMT and believe that regulation of ESG rating providers is important and needed to build trust in ESG data and products and help (end)investors make meaningful investment decisions.
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FIA EPTA Executive Committee elects Alistair McGrath as new Chair
FIA EPTA Executive Committee elects Alistair McGrath as new Chair
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