Europe News
The latest industry and regulatory news affecting Europe and the U.K.
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Trade associations submit letter on Article 9 of REMIT
FIA and several other trade associations have sent a letter to trilogue parties regarding proposed changes to Art. 9 of the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) concerning the supervision of third country firms. The associations urge legislators to adopt the least burdensome of the pending proposals, which would have third-country firms designate a representative to respond to requests for information. This contrasts with having to establish an office or move principal trading operations to the EU, which would create considerable market access barriers.
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Active accounts, clearing capacity top discussions at FIA Forum Frankfurt
Regulators and industry weigh EMIR 3.0 active account proposal, discuss market trends
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FIA responds to DORA Level 2 consultations
FIA has responded to the European Supervisory Authorities’ consultations on the first batch of policy products under the Digital Operational Resilience Act (DORA). While FIA generally supports the ESAs’ proposed changes, the responses highlight remaining industry concerns and areas where more clarity is needed.
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Trade associations call for deletion of active account proposal
FIA and ten other trade associations have urged EU policymakers to delete the Active Account Requirement proposed in EMIR 3.0. The associations, which represent European end users of derivatives along with providers of clearing services, highlight the detrimental implications of the proposed requirement on EU capital markets, including fragmentation, loss of netting benefits, and making the EU less resilient to market stresses with no benefit to EU financial stability.
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EU-UK MoU to boost dialogue on CCP equivalence decisions
The recent signing of a memorandum of understanding between UK and the EU financial regulators is a step forward in improving coordination between the two sides and could pave the way for discussions on "thornier" issues such as equivalence, said panellists at FIA's International Derivatives Expo.
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EMIR 3.0 under the spotlight at FIA Forum Brussels
Regulators and market participants came together at the FIA Forum Brussels to discuss the latest developments in the cleared derivatives markets in Europe.
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Keeping derivatives markets "open and safe for the real economy"
Opening remarks of Walt Lukken, President and CEO of FIA, at the FIA Forum in Brussels, on 23 May2023. As prepared for delivery.
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FIA responds to EC consultation on REMIT
FIA, jointly with FIA EPTA and ISDA, has responded to the European Commission’s “Have your Say” on Wholesale energy markets – improving EU protection against market manipulation. This review of REMIT is being discussed by co-legislators alongside a review of the EU’s Electricity Market Design. In the response, the associations voice their concerns regarding several of the draft amendments in the legislative proposal.
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FIA files position paper on proposed MiFID II/MiFIR changes in relation to commodities
FIA and six other trade associations have jointly submitted a position paper to the European Commission, the European Parliament and a number of member states of the Council in relation to commodities and commodity derivatives ahead of a trilogue process on proposed amendments to MiFIR and MiFID that will commence on 18 April.
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EMIR 3.0, cyber resilience top discussions at FIA Forum Stockholm
Stockholm may seem to be on the periphery of Europe from a geographical perspective. But when it comes to the major issues impacting the European derivatives markets, it’s right in the thick of the action. FIA came to Stockholm for the first in a series of forums around Europe with regulators, exchanges, brokers, clearing firms, and other market participants. Three topics dominated the discussions: location requirements for central clearing, the implications of the ION Markets ransomware attack, and the imposition of a price cap on gas markets.
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