Publications & Filings
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FIA responds to Hong Kong SFC consultation on Position Limit Regime changes
FIA has responded to the Hong Kong Securities and Futures Commission’s consultation conclusions and further consultation on changes to the Position Limit Regime.
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FIA responds to Eurex consultation on the implementation of the second skin in the game
While FIA and its members have been strong advocates for a SSITG, Eurex's intention to reduce the first SITG by 28% as part of the implementation is “opposed to the spirit of the new recovery and resolutions regulations and what the industry has been pushing for the past few years.”
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FIA and ISDA seek clarity CFTC position limits swaps rule
FIA and ISDA filed a petition seeking clarity on the definition of swaps that will be subject to the CFTC position limits rule. Beginning January 1, 2023, the CFTC limits will apply to "economically equivalent swaps,” which is to say, swaps that have identical material contractual terms to futures and options that are subject to the federal limits. The petition asks the CFTC to exercise its authority under the rule to clarify the definition of economically equivalent swaps to allow market participants to comply with the limits and implement effective position monitoring systems and processes.
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European Parliament publishes study aligned with FIA EU ETS advocacy
On 6 December, the European Parliament (EP) published a study titled "The role of financial operators in the ETS market," which investigated the role of financial actors, such as banks and investors, in the EU Emissions Trading System (ETS) and their role in determining price dynamics and volatility.
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FIA, ISDA and AFME publish position paper on European Commission Market Correction Mechanism Proposal
FIA, ISDA and AFME have published a position paper on the European Commission’s “Market Correction Mechanism” proposal for natural gas prices in the European Union. The associations urge policymakers to avoid imposing any price cap on the wholesale gas market.
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Associations publish papers on client participation in CCP auctions and CCP auction governance
FIA, CCP12, the European Association of CCP Clearing Houses, and ISDA, together with client associations, the FIA Principal Traders Group and the Managed Funds Association, have developed and published papers focused on client participation in a CCP default auction, governance of CCP default management processes and the role of default management groups
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DMIST Launches Consultation on 30/30/30 Standard for Give-Ups and Allocations
FIA and DMIST, the Derivatives Markets Institute for Standards, have jointly announced the publication of a proposed standard aimed at improving the processing of certain types of transactions in the exchange-traded derivatives markets. This is the first standard proposed by DMIST, an independent organization created by FIA earlier this year to promote greater efficiency in the trading and clearing workflow for derivatives.
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FIA asks FERC to limit scope of communications rule
FIA has offered comments to the US Federal Regulatory Commission (FERC) regarding a proposed rulemaking that would substantially expand the scope of communications that are subject to FERC’s enforcement authority.
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FIA makes recommendations on circuit breakers
The current energy crisis has been driving prices of natural gas to record levels, impacting households and businesses. The European Commission has reacted by tasking the European Securities and Market Authorities to review different areas of the market, including the use of circuit breakers by energy trading venues. In a letter to ESMA and the European Commission, FIA makes recommendations and emphasizes controls should not be used to cap prices.
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FIA submits comments to CSRC on draft Measures for the Administration of Futures Exchanges
FIA has responded to the China Securities Regulatory Commission’s (CSRC) consultation on its "Administrative Measures for Futures Exchanges." The draft Measures are significant as they establish a unified framework and lay down common requirements to be adopted by all futures exchanges established in the People's Republic of China.
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