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FIA EPTA response on the BaFin Consultation on a planned General Administrative Act regarding Futures with additional payment obligations

25 March 2022

FIA 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.

FIA EPTA members consider that the current proposal by BaFin will create a restriction on the marketing, distribution and sale of futures to retail clients that is misplaced and does not benefit retail end-investors. Futures are CCP-cleared products which are traded on regulated markets in a transparent manner, where there are high levels of competition to ensure prices which are fair and reflective of all available market information. 

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