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January 2020 SEF trading activity
Trading volume on SEFs reached a record level of $1.1 trillion in average notional value per day during January 2020. The increase in trading volume mainly took place in the forward rate agreements sector.
CONTINUE READINGFIA, FIA EPTA and ISDA offer joint response to the European Commission targeted consultation the CSDR review
On 2 February 2021, ISDA, FIA and FIA EPTA submitted a joint response to the European Commission’s (EC) targeted consultation on the review of the settlement and central securities depositories regulation (CSDR).
CONTINUE READINGFIA EPTA response to the EBA Discussion Paper on management and supervision of ESG risks for credit institutions and investment firms
FIA EPTA is committed to supporting policymakers in ensuring the success of the sustainable finance project at all levels of the capital market ecosystem. The consultation that the EBA has published mainly focuses on ESG risks stemming from clients and counterparties. FIA EPTA members deal with regulated parties as counterparties, perform additional screenings that may already include the necessary ESG elements, and do not have clients or manage funds, but trade on their own account and at their own risk.
CONTINUE READINGFIA EPTA, FIA and ISDA offer joint response to the European Commission targeted consultationon the CSDR reviw
On 2 February 2021, ISDA, FIA and FIA EPTA submitted a joint response to the European Commission’s (EC) targeted consultation on the review of the settlement and central securities depositories regulation (CSDR). The Associations outline their members’ concerns with regards to detrimental effects arising from the application of the CSDR mandatory buy-in regime for derivatives markets. The Associations request the European Commission and the co-legislators to clarify that the mandatory buy-in requirements of the CSDR settlement discipline regime do not apply in the context of margin transfers, physically settled derivatives and emission allowances.
CONTINUE READINGFIA PTG joins over two dozen trade groups in opposing NY Stock Transfer Tax
On 3 February, FIA PTG joined over two dozen trade groups in sending letters to the New York legislature in opposition to re-imposing any form of a New York State Stock Transaction Tax (STT).
CONTINUE READINGFIA comments on UK prudential regime for investment firms
FIA has submitted a response to the FCA consultation paper 20/24 on a new UK prudential regime for investment firms.
CONTINUE READINGResponse by FIA EPTA to the FCA Consultation Paper on a 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 (CP20/24). We very much welcome the FCA’s approach as set out in the Consultation Paper and generally agree that the FCA’s proposed rules are clear, proportionate and fit for purpose. In our response, we focus on a number of key areas where we believe further improvements or clarifications could be made to enable a proportionate, effective and practicable prudential regime for investment firms.
CONTINUE READINGSpecial Report Series: Market Infrastructure Under MiFID II
This Special Report is the fourth in FIA and FIA Europe’s series covering specific areas of the European Securities and Markets Authority’s consultation process for the implementation of the recast Markets in Financial Instruments Directive (“MiFID II”) and the new Markets in Financial Instruments Regulation (“MiFIR”).
CONTINUE READINGFIA letter to President Biden highlights priorities and opportunities
On behalf of FIA's membership, we wish you all the success as you begin your work as the 46th President of the United States. Policies affecting financial markets are sure to feature prominently in your agenda, particularly in light of the recent volatility in securities markets.
CONTINUE READINGResources regarding separate accounts of the same beneficial owner
March 31, 2021, is the deadline specified in the CFTC’s Supplemental Advisory and Time-Limited No-Action Relief Letter 20-28 (“NAL 20-28”) for Futures Commission Merchants (“FCMs”) and their clients to take certain steps with respect to margining of separate accounts with the same beneficial owner and related agreements.
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