Europe News
The latest industry and regulatory news affecting the EU and the UK
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FIA submits response to public consultation on FRANDT under EMIR
FIA submits response to public consultation on FRANDT under EMIR
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FIA and ISDA jointly submit response to ESMA consultation on MAR review
FIA and ISDA jointly submit response to ESMA consultation on MAR review
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Trade organizations call for extension of temporary equivalence and recognition of UK CCPs
Today, 14 financial services trade associations wrote to European Commission Vice President Valdis Dombrovskis to highlight the need for an urgent extension to the temporary equivalence determination for UK central counterparties (CCPs).
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FIA response to ESMA consultation on market data fees
On 6 September, FIA submitted a response to ESMA to their consultation on the development in prices for pre- and post-trade data and on the consolidated tape for equity instruments.
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FIA co-signs letter on equivalence of trading venues under EMIR UK and MiFIR UK’
On 5 April, FIA co-signed a letter to HM Treasury and FCA regarding the equivalence of EEA trading venues. Signing the letter alongside FIA were ISDA (International Swaps and Derivatives Association), AFME (Association for Financial Markets in Europe), AIMA (Alternative Investment Management Association), Assosim (Association for Financial Market Intermediaries), EFET (European Federation of Energy Traders), ICI-Global (Investment Company Institute), SIFMA AMG (Securities Industry and Financial Markets Association Asset Management Group) and UK Finance
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FIA members seek clarity from UK and EU27 to help Brexit contingency planning
FIA today released survey results that provide a high level snapshot into clearing brokers’ progress with their Brexit contingency plans, the issues they face when structuring and executing such plans, and the policy proposals that would help address these issues.
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FIA submits response to Ofgem Secure and Promote Review Consultation Paper
On 19 September, FIA submitted a response to the Ofgem Secure and Promote Review Consultation Paper published on 25 July 2017. The consultation explores the impact of the Secure and Promote licence condition on liquidity in the market and if further changes are required to the license condition.
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Bigger Role for ESMA
On Sept. 20, the European Commission published a package of proposals to strengthen the European system of financial supervision. The proposals aim to improve the mandates, governance and funding of the three European supervisory authorities and the functioning of the European Systemic Risk Board, which should ensure stronger and more integrated financial supervision across the EU. Key features of the proposal include:
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Metals Market Makeover
The London Metal Exchange and LME Clear have published a discussion paper to solicit feedback on a wide range of issues related to its core markets in non-precious metals, including trading and booking structures, clearing structures and services, delivery and physical market structure, membership and the LME ecosystem as a whole.
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Cloud Over London
On May 4, the European Commission issued a policy statement discussing its plans to issue legislative proposals by the end of June to address “important and emerging challenges” in derivatives clearing.
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