FIA has submitted comments to the US Securities and Exchange Commission (SEC) in response to proposed rules establishing standards for covered clearing agencies for U.S. Treasury securities.
CONTINUE READINGFTX's unlawful use of customer money should not completely overshadow the groundbreaking ideas it was proposing to disrupt finance. Direct access to exchanges, auto-liquidation, real-time margining—these ideas are not going away. Whether we like it or not, these new approaches to market structure will continue to challenge our way of doing business.
CONTINUE READINGFIA has updated its CCP Tracker visualizations with data from the second quarter of 2022.
CONTINUE READINGTrading volume on swap execution facilities reached $776.3 billion in average notional value per day during November 2022. This was up 4.6% from the previous month but down 14% from the same month of the previous year.
CONTINUE READINGFIA has responded to the Hong Kong Securities and Futures Commission’s consultation conclusions and further consultation on changes to the Position Limit Regime.
CONTINUE READINGWhile FIA and its members have been strong advocates for a SSITG, Eurex's intention to reduce the first SITG by 28% as part of the implementation is “opposed to the spirit of the new recovery and resolutions regulations and what the industry has been pushing for the past few years.”
CONTINUE READINGFIA 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.
CONTINUE READINGFIA EPTA members are supportive of the work being done by ESMA on market outages, particularly efforts to require trading venues to publish clear comprehensive outages plans on an ex-ante basis. Market resilience is at the core of efficient and competitive financial markets and it is imperative that trading venues clearly outline a well-planned approach to communication and management in the event of a market outage to provide certainty to market participants.
CONTINUE READINGWorldwide volume of exchange-traded derivatives reached 7.75 billion contracts in November, up 10.9% from October 2022 and up 25.7% from November 2021.
CONTINUE READINGOn 6 December, the European Parliament (EP) published a study titled "The role of financial operators in the ETS market," which investigated the role of financial actors, such as banks and investors, in the EU Emissions Trading System (ETS) and their role in determining price dynamics and volatility.
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