Market Structure

At FIA’s International Derivatives Expo in London, policymakers and market leaders delivered a clear message: Europe has the scale, capital and talent to compete globally – but turning that potential into growth will require faster execution, deeper market integration and more decisive action. 

Cross-border markets function most effectively when the authorities respect one another's supervisory frameworks and focus on comparable regulatory outcomes. This principle of regulatory deference has served the derivatives markets well. It has allowed firms to operate across jurisdictions while ensuring that regulators retain robust oversight and accountability.

FIA offers a series of recommendations in formulating clear, workable rules and enhancing existing regulatory practices, all rooted in the Commodity Exchange Act's core objectives of promoting responsible innovation and preserving sound risk management.

Hong Kong has seen its role as a gateway between China and global markets strengthen amid a surge in cross-border trading and derivatives activity. Market participants say sustaining that momentum will depend on continued investment in infrastructure and diversification across asset classes. 

FIA has published a position paper welcoming the European Commission’s Market Integration and Supervision Package and setting out targeted recommendations to strengthen the framework.

Tokenisation is edging closer to the mainstream, promising faster, more efficient markets – but regulators warn the hardest challenges are still ahead. At FIA Boca, policymakers unpacked what must be solved before tokenisation can truly scale and reach "escape velocity".