FIA and ISDA submit joint letter on CCP conflicts of interest
On 24 August, FIA and the International Swaps and Derivatives Association submitted a joint response to a European Securities and Markets Authority consultation on conflicts of interest at central counterparties. The two associations welcomed ESMA’s work on aligning practices in Europe around best practice in conflict of interest management and recommended "further enhancement" of the guidelines. For example, information about the portfolio, risk profiles and trading activities of individual clearing participants should remain confidential, but confidentiality should not be used as a reason to restrict disclosure of relevant information to market participants, they said.
