On 20 September, FIA EPTA and several other trade associations sent a briefing to negotiators of the REMIT Review legislation with respect to requirements under Article 9 and the supervision of third-country firms.
FIA EPTA welcomes the opportunity to respond to the ESMA Consultation Paper on Technical Standards specifying certain requirements of the Markets in Crypto Assets Regulation (MiCA). FIA EPTA members believe the draft RTS and ITS set out a balanced approach. However, FIA EPTA members believe further proportionality should be considered.
FIA EPTA agrees with the FCA’s proposal to appoint a single CTP per asset class through a tender process. Multiple providers would defeat underlying purpose of the Consolidated Tape of having a single golden source for data. Having a single CTP would also reduce the operational burden on data contributors and concentrate the customer base making the business model more economically viable.
Worldwide volume of exchange-traded derivatives reached a record 11.25 billion contracts in July. This was up 12.1% from June 2023 and up 71.4% from July 2022.
FIA EPTA supports the proposals set out in the Consultation. Whilst we acknowledge that the cover requirements under the Short Selling Regulation support settlement discipline in equities markets, we do not see the same need in the market for sovereign bonds and related CDS given the size and liquidity of these markets.
The FIA European Traders Association (FIA EPTA) and the FIA Principal Traders Group (FIA PTG) have responded to the Board of the International Organization of Securities Commissions (IOSCO) Crypto and Digital Asset Markets Consultation. The letter supported IOSCO’s efforts to foster the development of a consistent global regulatory framework for digital assets.
FIA EPTA is broadly supportive of the laid-out draft guidelines on the resubmission of historical data and welcome the clarity it provides. We are however concerned that the numerical materiality thresholds (tolerance limits) outlined in paragraph 18 would result in a large volume of historical data resubmission for the vast majority of entities covered by these guidelines.
The FCA, CFTC, and other U.S. and U.K. regulators have different priorities, regulatory processes, and approaches. In this webinar, we will identify current enforcement trends in cases brought by regulators in the US and UK.
