FIA commented on the HM Treasury’s (HMT) Wholesale Markets review as part of the UK government’s efforts to establish how UK markets should adapt following the UK’s departure from the EU. In the response, FIA noted that resilient and robust markets are of key importance to FIA members, and therefore supports Treasury’s stated ambitions for MiFID requirements to remain sound and to ensure continued market integrity in the UK. In the letter, FIA offered to assist in identifying those areas where the MiFID requirements have not achieved the desired effects by also comparing the cost of the requirements that are subject to HMT’s review. FIA’s response primarily focuses on cleared exchange-traded derivatives and does not address non-derivatives markets other than on the topics of market outages and market maker agreements.
The response can be downloaded here.
