The FIA Principal Traders Group (FIA PTG) recently joined 24 trade associations (Associations) in a joint letter to the Securities and Exchange Commission (Commission) regarding the importance of sufficient comment periods in connection with regulatory proposals.
CONTINUE READINGFIA has responded to a consultation published by the European Securities and Markets Authority (ESMA) seeking input on the current calibration of the antiprocyclicality tools, and whether proposed revisions to existing Regulatory Technical Standards (RTS) may be necessary.
CONTINUE READINGWashington, DC – FIA President and CEO Walt Lukken today made the following statement on the U.S. Senate confirmation of Christy Goldsmith Romero, Kristin Johnson, Summer Kristine Mersinger, and Caroline Pham to each be commissioners at the US Commodity Futures Trading Commission:
CONTINUE READINGOn 11 February, ASX issued its “Consultation on proposed changes to the ASX Recovery Rules to allocate US settlement bank investment losses between the ASX CCPs and their clearing participants”. The propose changes seek to address the increased investment exposure of clearing members to US settlement banks due to the inclusion of variation margin exposures in ASX Clear (Futures) overnight (2 a.m.) margin calls.
CONTINUE READINGFIA EPTA members would like to emphasise that we value and support the objective by BaFin to prioritise investor protection. We agree that it is of the utmost importance to ensure that financial markets are transparent and safe for retail investors. However, as said, we do not consider that banning listed futures trading for retail investors, as now proposed by BaFin, will contribute to this objective, and in our view rather the opposite.
CONTINUE READINGIn a letter filed with the SEC (Commission) today, the FIA Principal Traders Group (FIA PTG) requested the Commission eliminate the public disclosure aspect of the security-based swaps proposal and focus on regulatory reporting instead.
CONTINUE READINGFIA recommends the European Commission takes into account international practices and continues the coordination of cross-border clearing and capital frameworks at an international level.
CONTINUE READINGFIA EPTA members believe that the Commission should firstly focus on opportunities to incentivise clearing of new transactions on EU CCPs as moving legacy positions to another CCP will create issues around higher cost and increased risk of closing and re-opening the cleared position on the market. FIA EPTA members believe that harmonisation of the different EU legal frameworks for cross-border activity would be helpful as EU CCPs require complex legal structures to ensure the enforceability of their rules in a default situation.
CONTINUE READINGFIA has jointly with ISDA, AFME, EBF and EFAMA written to Commissioner Mairead McGuinness requesting that the European Commission expedite the review of clearing arrangements in as many non-EU jurisdictions as possible.
CONTINUE READINGFirst set of standards will focus on processing time for allocations and give-ups
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