The paper highlights the need for 24/7 clearing and risk management to accompany 24/7 trading, ensuring sufficient liquidity in the markets, considering operational risk and utilising existing market principles and regulations to provide a roadmap.
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The signatories caution that direct intervention in wholesale gas price formation could undermine Europe’s energy security, disrupt market functioning and pose risks to financial stability.
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FIA invites the CFTC to consider a modified regime for fully collateralized and pre-funded clearing models, including those catering to retail traders.
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The FIA-sponsored European Agent Trustee Model (EATM) has gone live at LCH Ltd for its SwapClear service, marking an important milestone in a multi-year project between FIA, a consortium of bank clearing members, two European clearinghouses, and external counsel.
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FIA's response to the BoE on CCP resilience advocates against financial incentives for porting and recommends enhancements to margin models in UK EMIR.