EPTA News
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Press release: Turning The Tables On Liquidity Provision – Download The Report
Europe’s trading landscape is being fundamentally reshaped as asset managers transform from ‘liquidity takers’ to ‘liquidity makers’. Our new report Turning the Tables on Liquidity Provision lays bare the changes taking place in the UK and EU’s capital markets as the after-effects of the pandemic continue to be felt. In particular, equity and fixed-income markets are at the point of a radical shake-up as the buyside settles into the liquidity driving seat. And the impact has prompted calls for the current regulatory rulebook to be overhauled to keep pace with the changes, or risk falling behind.
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FIA EPTA response letter to the Discussion Paper on Diversity and inclusion in the financial sector – working together to drive change (DP21/2)
FIA EPTA appreciates the opportunity to provide feedback to the Bank of England (BoE), Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) Discussion Paper regarding Diversity and inclusion in the financial sector – working together to drive change. FIA EPTA members would like to acclaim the BoE, PRA and FCA’s work on including Social and Governance components of ESG in their work to create a sustainable and resilient financial sector.
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Press Release: PARADIGM SHIFT AS MARKET MAKERS TAKE CENTRE-STAGE IN EUROPEAN LIQUIDITY PROVISION DURING COVID-19 PANDEMIC
The ability of independent market making firms to provide essential liquidity to Europe’s pension funds and other asset managers during the Covid-19 financial crisis has accelerated their recognition as a vital part of the European capital markets eco-system. A new research report surveying European buyside participants reveals for the first time how market makers stepped up to help the asset managers when some of the traditional providers of risk capital partially withdrew from certain market segments in Europe in the early stages of the pandemic.
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#WeAreMarketMakers Campaign Launched To Promote Better Understanding Of Market Making Firms In Europe
A new campaign to promote better understanding of modern market making, what it does and its benefits for wider society, has been launched today. #WeAreMarketMakers is a campaign by FIA EPTA, the European industry body for independent market making companies, as part of its 10th Anniversary activities. The project is not only supported by FIA EPTA’s 30 member firms, but also by others in the markets community that work directly with and alongside the industry.
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FIA EPTA response to the HM Treasury Consultation Paper on the Wholesale Markets Review
The FIA European Principal Traders Association (FIA EPTA) appreciates the opportunity to provide feedback to the HM Treasury Consultation Paper regarding the Wholesale Markets Review. FIA EPTA agrees that the breadth of the current definition of a ‘multilateral system’ has created ambiguity about the regulatory perimeter which should be clarified. This has been particularly acute for brokers arranging transactions over the phone (so called “voice brokers”) and technology firms innovating new ways of bringing together buying and selling interests.
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FIA EPTA response to the FCA Consultation Paper on a new UK prudential regime for MiFID investment firms (CP21/26***)
FIA EPTA appreciates the opportunity to provide feedback to the Financial Conduct Authority (FCA) on its third Consultation Paper regarding the implementation of the new UK prudential regime for MiFID investment firms. This document constitutes FIA EPTA’s response to the FCA’s Consultation Paper on a new UK prudential regime for MiFID investment firms (CP21/26). We welcome the FCA’s approach as set out in the Consultation Paper and agree that the FCA’s proposed rules are clear, proportionate and fit for purpose. In our response, we focus only on a limited number of areas where we believe further improvements or clarifications could be made to enable a proportionate, effective and practicable prudential regime for investment firms.
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Response by FIA EPTA to the Financial Conduct Authority Consultation Paper on enhancing climate-related disclosures by standard listed companies and seeking views on ESG topics in capital markets, (CP21/18**)
FIA EPTA welcomes the opportunity to respond to the Financial Conduct Authority (FCA) Consultation Paper on enhancing climate-related disclosures by standard listed companies and seeking views on ESG topics in capital markets. FIA EPTA members welcome the actions and responsibilities taken by the Government of the United Kingdom to work towards the common goals of reaching climate neutrality in 2050.
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FIA EPTA Response to the Consultative Document “Prudential treatment of cryptoasset exposures by the Basel Committee
FIA EPTA welcomes the opportunity to comment on the Basel Committee Consultative Document “Prudential treatment of cryptoasset exposures”, dated June 2021. The discussions within the Basel Committee and this Consultative Document are very timely. We have reached a pivotal moment for the adoption of innovative technologies that will improve capital markets by verifiable and transparent information, higher efficiency of clearing and settlement and more liquidity. New digital assets are emerging that promise greater stability, wider acceptance and increase possible uses.
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FIA EPTA response to the Consultation Paper on the clearing and derivative trading obligations in view of the benchmark transition
The FIA European Principal Traders Association (FIA EPTA) appreciates the opportunity to provide feedback to the European Securities and Markets Authority (ESMA) to the Consultation Paper on the clearing and derivative trading obligations in view of the benchmark transition. We encourage ESMA to incorporate ongoing flow trading data into its analysis. Data regarding daily trading activity is important when making liquidity assessments and monitoring the market’s ongoing transition to new benchmark rates.
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FIA EPTA and FIA Comment on European Commission’s Platform on Sustainable Finance
FIA and FIA EPTA submitted comments to the European Commission (EC) call for feedback on the Platform on Sustainable Finance’s draft proposal for an extended taxonomy to support economic transition. FIA and FIA EPTA members largely and recognize the desire to further expand the Taxonomy regulation. However, FIA and FIA EPTA members believe it is too early to broaden the scope of the taxonomy too widely as the existing Taxonomy regulation has only just come into force and needs time to demonstrate its impact on the market.
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