Market Structure
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News Briefs September 2014
The Financial Stability Board on July 22 published a report outlining reforms to major interest rate benchmarks such as Libor, Euribor and Tibor. One set of the recommended reforms is aimed at strengthening the existing "IBORs" and other reference rates based on unsecured bank funding costs by underpinning them with transaction data. "By end-2015, administrators should have publicly consulted on any recommended changes, while currency groups will work to develop transition strategies and address any legal obstacles and risks," the FSB said.
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Clearing the Deck: OTC Clearing in Europe
The European Securities and Markets Authority on July 11 launched its first round of consultations to determine which classes of swaps will be subject to mandatory central clearing.
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President's Message September 2014
It has been a busy summer at FIA, and I am pleased to congratulate Gerry Corcoran on his election to chairman of FIA’s board of directors. Gerry is the CEO of R.J. O’Brien and has served on our board since 2008.
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Big Data Challenges at the CFTC
Every day the Commodity Futures Trading Commission monitors some 300 million data records covering a range of market information such as time and sales transactions, futures and swaps positions, intraday trades and swap events.
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Joint Trade Associations Letter to IOSCO Secretary General on UTIs
Joint Trade Associations Letter to IOSCO Secretary General on UTIs
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10 Themes That Will Shape Financial Markets
To provide some thought-provoking insights on the future of the derivatives industry, FIA invited Jane Gladstone, an investment banker who has advised many of the leading companies in this sector, to speak at the exchange leaders breakfast at FIA’s International Futures Industry Conference in Boca Raton, Fla. this past March.
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Cross Border Regulation Forum
In response to the establishment of the IOSCO Task Force, which was charged with the responsibility of developing a 'tool kit' for cross-border regulatory approaches and considering the need for implementation guidance, an international group of financial service trade associations, investment banks, brokerage houses and market infrastructure operators came together to establish the Cross-Border Regulation Forum (CBRF) for the specific purpose of providing joint industry input into the work of the Task Force.
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CBRF issues paper on Key Issues and Challenges Relevant to the Regulation of Cross-Border Business in Financial Services
On 28 May, the CBRF submitted a written response to an IOSCO questionnaire on a number of issues arising in connection with the regulation of cross-border business and, in particular, regulatory recognition and substituted compliance. The paper:
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FIA Special Report: CFTC Discusses Cross-Border Issues
The Commodity Futures Trading Commission's Global Markets Advisory Committee held a meeting on May 21 to discuss cross-border regulatory issues.
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