EPTA News
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FIA EPTA response to the UK Government Call for Evidence to support its update of the Green Finance Strategy
FIA EPTA welcomes the opportunity to respond to the United Kingdom (UK) Government Call for Evidence to support its update of the Green Finance Strategy. FIA EPTA members believe that the UK Government is at the forefront of the global fight against climate change and mitigating its impact on citizens. The UK Government showed its leadership during COP26 in Glasgow and with the review of many legislative initiatives as also this Call for Evidence shows.
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FIA EPTA members elect new Executive Committee
FIA EPTA’s members have elected a new Executive Committee (ExCo) as the governing body of the industry organization. Niels Lemmers (Flow Traders B.V.) and Mark Spanbroek (Independent) were re-elected for a two-year term and Emma Lokko (Susquehanna International Group Limited) and Alistair McGrath (Tower Research Capital Europe Limited) were newly elected. Mark Spanbroek was re-elected for his final term as Chairman and Niels Lemmers was elected as Vice Chair, both unanimously by the ExCo members of FIA EPTA.
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FIA EPTA response to the European Commission consultation on the functioning of the ESG ratings market in the European Union and on the consideration of ESG factors in credit ratings
FIA EPTA welcomes the opportunity to respond to the European Commission consultation on the functioning of the ESG ratings market in the European Union and on the consideration of ESG factors in credit ratings FIA EPTA members believe regulation is needed to build credible and meaningful ESG ratings. Investors need the ESG ratings for their investment decisions, as ESG investments are growing, the demand for ESG ratings will only grow.
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FIA EPTA response to the ESMA Consultation Paper on ESMA’s Opinion on the trading venue perimeter
FIA EPTA appreciates the opportunity to provide feedback to the European Securities and Markets Authority (ESMA) on the consultation on ESMA’s Opinion on the trading venue perimeter. FIA EPTA considers that ESMA’s approach to defining multilateral systems is overly broad and risks creating further confusion and inconsistencies in the application of MiFID II across the Union.
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FIA EPTA response on the BaFin Consultation on a planned General Administrative Act regarding Futures with additional payment obligations
FIA EPTA members would like to emphasise that we value and support the objective by BaFin to prioritise investor protection. We agree that it is of the utmost importance to ensure that financial markets are transparent and safe for retail investors. However, as said, we do not consider that banning listed futures trading for retail investors, as now proposed by BaFin, will contribute to this objective, and in our view rather the opposite.
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FIA EPTA response consultation on the review of the central clearing framework in the EU
FIA EPTA members believe that the Commission should firstly focus on opportunities to incentivise clearing of new transactions on EU CCPs as moving legacy positions to another CCP will create issues around higher cost and increased risk of closing and re-opening the cleared position on the market. FIA EPTA members believe that harmonisation of the different EU legal frameworks for cross-border activity would be helpful as EU CCPs require complex legal structures to ensure the enforceability of their rules in a default situation.
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FIA EPTA response to the IOSCO Consultation Paper on Operational resilience of trading venues and market intermediaries during the COVID-19 pandemic
FIA EPTA welcomes the opportunity to respond to the IOSCO Consolation Paper on the Operational resilience of trading venues and market intermediaries during the COVID-19 pandemic. FIA EPTA members believe it an important step by IOSCO to review the resilience of financial market participants during the Covid-19 pandemic as the lessons learned will better prepare the sector for future occurrences of high volatility.
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FIA EPTA response to the ESMA Call for Evidence On Market Characteristics for ESG Rating Providers in the EU
FIA EPTA welcomes the opportunity to respond to the European Securities and Markets Authority (ESMA) Call for Evidence On Market Characteristics for ESG Rating Providers in the EU. In 2019 FIA EPTA established a Sustainable Finance Committee for its member firms to explore how liquidity providers can contribute to the green transition. FIA EPTA members believe ESG ratings are extremely relevant for EU financial markets and financial market participants.
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FIA EPTA response to the EBA CP on the Draft Regulatory Technical Standards on the specific liquidity measurement for investment firms
FIA EPTA welcomes the opportunity to respond to the EBA Consultation Paper on the Draft Regulatory Technical Standards on the specific liquidity measurement for investment firms under Article 42(6) of Directive (EU) 2019/2034. FIA EPTA would like to clarify that the concept of a liquidity mismatch between liquid assets and liquidity requirements, which is common for specific (asset management) business models like pension funds or investment funds, does not really apply to a market making model with a trading book and taking place in a CCP cleared environment or being governed by netting agreements.
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FIA EPTA response to the ESMA CfE on the DLT pilot regime
FIA EPTA welcomes the opportunity to respond to the European Securities and Markets Authority (ESMA) Call for Evidence on the DLT Pilot Regime. FIA EPTA believes it is an important step by ESMA to review the DLT space as it will grow in use and importance. Over the past years, FIA ETPA Members have become increasingly active in the Digital Assets space and several members have become liquidity providers in this new and developing market.
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