Market Structure

The pace of change is undoubtedly quickening in our markets. We must have a regulatory structure that can keep up with the markets. CONTINUE READING

Regulators and market leaders debated the merits of centralised supervision in the EU, challenges in implementing EMIR 3.0, and the UK’s approach to systemically important clearinghouses, among other topics, at FIA’s forum in Paris. CONTINUE READING

FIA filed comments with the US Securities and Exchange Commission responding to ICE Clear Credit's proposed US Treasury clearing rules. The letter commends ICC for its efforts to expand its clearing services to the U.S. Treasury market and recommends refinements to certain aspects of the proposed rules to ensure predictability and clarity for clearing firms and market participants that will participate on ICC's platform, once approved. CONTINUE READING

FIA appreciates the opportunity to provide feedback to the European Central Bank (ECB) Consultation Paper on the extension of T2 (formerly TARGET 2) operating hours. In the short term, FIA Members suggest moving to a 23 hours / 5 days a week T2 payment settlement model for use on a voluntary basis, with the T2 closing window being reduced to one hour. CONTINUE READING

FIA, ISDA and the European Fund and Asset Management Association have shared a paper with EU policymakers, requesting clarification on the implementation of the active account requirement under the European Market Infrastructure Regulation (EMIR 3.0) in relation to representativeness. The associations request regulatory guidance, with a view to standardising compliance and avoiding fragmented implementation of requirements across EU member states. CONTINUE READING

A recent policy document details the return of the UK’s recognition approach for regulating cross-border business that the UK helped develop nearly forty years ago. This nuanced change would unlock tremendous capacity for our industry to grow and return our markets to a more outcomes-based approach that could kick-start productivity in our global markets. CONTINUE READING