Publications & Filings
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FIA and ISDA seek clarity CFTC position limits swaps rule
FIA and ISDA filed a petition seeking clarity on the definition of swaps that will be subject to the CFTC position limits rule. Beginning January 1, 2023, the CFTC limits will apply to "economically equivalent swaps,” which is to say, swaps that have identical material contractual terms to futures and options that are subject to the federal limits. The petition asks the CFTC to exercise its authority under the rule to clarify the definition of economically equivalent swaps to allow market participants to comply with the limits and implement effective position monitoring systems and processes.
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FIA, ISDA and AFME publish position paper on European Commission Market Correction Mechanism Proposal
FIA, ISDA and AFME have published a position paper on the European Commission’s “Market Correction Mechanism” proposal for natural gas prices in the European Union. The associations urge policymakers to avoid imposing any price cap on the wholesale gas market.
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Associations publish papers on client participation in CCP auctions and CCP auction governance
FIA, CCP12, the European Association of CCP Clearing Houses, and ISDA, together with client associations, the FIA Principal Traders Group and the Managed Funds Association, have developed and published papers focused on client participation in a CCP default auction, governance of CCP default management processes and the role of default management groups
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Expo 2022 - The role of innovation and intermediation
Opening remarks of Walt Lukken, President and CEO of FIA, at the FIA Expo 2022 conference in Chicago. As prepared for delivery.
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FIA asks FERC to limit scope of communications rule
FIA has offered comments to the US Federal Regulatory Commission (FERC) regarding a proposed rulemaking that would substantially expand the scope of communications that are subject to FERC’s enforcement authority.
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FIA makes recommendations on circuit breakers
The current energy crisis has been driving prices of natural gas to record levels, impacting households and businesses. The European Commission has reacted by tasking the European Securities and Market Authorities to review different areas of the market, including the use of circuit breakers by energy trading venues. In a letter to ESMA and the European Commission, FIA makes recommendations and emphasizes controls should not be used to cap prices.
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FIA submits comments to CSRC on draft Measures for the Administration of Futures Exchanges
FIA has responded to the China Securities Regulatory Commission’s (CSRC) consultation on its "Administrative Measures for Futures Exchanges." The draft Measures are significant as they establish a unified framework and lay down common requirements to be adopted by all futures exchanges established in the People's Republic of China.
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FIA offers comments on DCO governance requirements
FIA has filed provide comments with the US Commodity Future Trading Commission on a proposed rulemaking regarding governance requirements for Derivatives Clearing Organizations (DCOs).
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FIA responds to CFTC Request for Information on climate-related financial risk
FIA has responded to the US Commodity Futures Trading Commission (CFTC) Request for Information (RFI), which sought public comment on climate-related financial risk to better inform its understanding and oversight of climate-related financial risk as pertinent to the derivatives markets and underlying commodities markets.
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FIA, ISDA respond to ESMA call for evidence on pre-hedging
FIA and the International Swaps and Derivatives Association have jointly responded to a European Securities and Markets Authority call for evidence on pre-hedging activities. FIA and ISDA offered comments on ESMA’s proposed a definition for pre-hedging, how to distinguish it from hedging, the relationship with MiFID and MAR including legitimate and illegitimate indicators, the treatment of RFQs and more.
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