FIA, AIMA, EBF, EFAMA and ISDA have sent a letter urging the European Commission and European Supervisory Authorities to clarify that market participants are not required to implement the European Market Infrastructure Regulation (EMIR 3.0) Level 1 provisions prior to the date of application of the associated Level 2 regulatory technical standards (RTS).
CONTINUE READINGFCMs are currently relying on no-action relief that allows them to separately margin accounts of the same beneficial owner. This rule marks the second attempt by the CFTC to codify that relief. FIA’s letter asks the CFTC to codify the relief as written without laying on additional highly prescriptive requirements that limit FCM discretion to risk manage accounts.
CONTINUE READINGUnder current rules, US-based commodity pool operators, commodity trading advisers, futures commission merchants and prop firms can directly access Foreign Boards of Trade. The pending rule would include US-based introducing brokers among the permissioned registrants. FIA’s letter supports the proposed expansion, noting that adding introducing brokers to the mix should provide more brokerage options for US customers and promote liquidity in foreign products.
CONTINUE READINGFIA has responded to the Fixed Income Clearing Corporation’s proposals to revise its customer clearing access models and to modify its margin segregation rules in order to implement the SEC’s new clearing mandate for U.S. Treasuries. FIA's response identifies conflicts between the proposed access structures and CFTC rules to which FCMs are subject.
CONTINUE READING
Key IssuesCapitalCCP Risk Commodities Cross-Border Digital Assets Diversity & Inclusion Operations and Execution Sustainable Finance All Advocacy |
News & ResourcesPress ReleasesFIA MarketVoice Webinars Podcasts Data Resources Documentation Training CCP Risk Review Hall of Fame |
AboutContact UsAbout FIA Governance Staff Directory Affiliates List of Members Membership Member Forums Careers |
EventsBocaL&C IDX Expo Asia FIA-SIFMA AMG Webinars Register as Speaker All Events |
---|---|---|---|
BrusselsOffice 502 |
LondonLevel 28 |
SingaporeOne Raffles Quay North Tower |
Washington, DC2001 K Street NW |