Market Structure
-
FIA submits response to FCA Consultation Paper on its approach to international firms (CP20-20)
On 27 November, FIA responded to the UK Financial Conduct Authority’s consultation on its approach to international firms.
CONTINUE READING -
FIA supports ASX default management proposals
In recent comments to an ASX consultation on default management issues, FIA’s members are strongly in favour of consultations with a CCP’s wider membership on default management arrangements.
CONTINUE READING -
FIA and GFMA comment on China’s draft Personal Information Protection Law
FIA and GFMA wrote in support of a draft law in China to establish reasonable and proportionate mechanisms to safeguard personal information.
CONTINUE READING -
FIA Expo - Derivatives markets should prioritize same-day trade processing/give-up acceptance, industry experts say
Bouts of extreme volatility, record volume, and market stress hit the market in early 2020 in the wake of the COVID-19 pandemic. However, participants at an FIA Expo panel on 11 November noted that this real-world stress test of the clearing industry provided an important opportunity to identify core areas of the model that need enhancement and modernization.
CONTINUE READING -
FIA paper on the necessity, path and related issues of opening the financial futures market
FIA greatly appreciates CFFEX’s interest in these critical topics that affect the global financial markets and the end-users who rely on derivatives products for price certainty and to hedge their risks. FIA strongly supports the regulatory recognition and deference model that has been the foundation of the futures industry for years. Identical rules, on a line-by-line basis, implemented globally across jurisdictions is impracticable.
CONTINUE READING -
FIA welcomes the decisions by EC on time-limited equivalence and ESMA on UK CCP temporary recognition
FIA President and CEO Walt Lukken today made the following statement in reaction to the EC and ESMA decisions to formally grant temporary equivalence and recognition for clearinghouses based in the UK, which allow them to continue to provide clearing services in the EU at the end of the transition period between the EU and the UK.
CONTINUE READING -
CFTC finalizes alternative compliance regime for non-US DCOs, updates swap data rules
The US Commodity Futures Trading Commission unanimously approved an alternative compliance regime for non-US derivatives clearing organizations (DCOs) by a 5-0 vote on 17 September. The rulemaking effectively defers many CFTC oversight requirements to relevant home-country regulatory regimes for foreign DCOs.
CONTINUE READING -
FIA and ASIFMA comment on draft Data Security Law of the People’s Republic of China
FIA along with the Asia Securities Industry & Financial Markets Association submitted comments on the Consultation Draft of the Data Security Law (DSL) to the Legislative Affairs Commission of the Standing Committee of the 13th National People's Congress.
CONTINUE READING -
FIA and ISDA publish paper on non-default losses at clearinghouses
FIA and ISDA published a primer on the issue of non-default losses (NDL) at clearinghouses.
CONTINUE READING -
FIA, ISDA and IIF comment on FSB paper on clearinghouse resolution and equity
FIA, the International Swaps and Derivatives Association (ISDA), and the Institute of International Finance (IIF), (collectively the Associations), submitted a comment on the Financial Stability Board’s (FSB) consultation paper “Financial resources to support CCP resolution and the treatment of CCP equity in resolution.”
CONTINUE READING
