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European Council approves one-year delay to MiFID II
Today, the Council formally endorsed a one-year delay for MiFID II and MiFIR at the ECOFIN meeting – this was the last procedural step before the amendments can be published in the EU Official Journal (OJ), which should happen in the coming days.
CONTINUE READINGFIA PTG supports SEC proposal to rescind effective-upon-filing procedure for NMS plan fee amendments
In a letter filed with the Securities and Exchange Commission (SEC) today, the FIA Principal Traders Group (FIA PTG) concurred with the SEC that the current effective-upon-filing procedure for NMS plan fee amendments should be rescinded and replaced with the standard fee amendment process which allows for public comment before becoming effective.
CONTINUE READINGThe Evolving Equity Options Market
Equity options exchange leaders discuss recent mergers and other key trends during a panel discussion at FIA Expo 2016.
CONTINUE READINGCFTC Market Risk Advisory Committee sets ambitious 2020 agenda
On Dec. 11, the U.S. Commodity Futures Trading Commission held a public meeting of its Market Risk Advisory Committee, a group of market participants and public policy experts that provides input into CFTC rulemaking. The committee, which operates under the leadership of Rostin Behnam, one of the five CFTC commissioners, discussed plans to develop policy recommendations in four areas: market structure, clearinghouse risk, the Libor transition, and climate change risk. In all four areas, the members of the advisory committee are working to deliver "actionable recommendations" to the CFTC by the end of 2020.
CONTINUE READINGCboe sets sights on Europe's derivatives market with EuroCCP deal
Cboe Global Markets, one of the world’s largest exchange holding companies, has agreed to acquire the 80% of EuroCCP that it does not own for about €36 million in a move that will help it to expand into the European equity derivatives trading and clearing space.
CONTINUE READINGBIS analysts say OTC interest rate derivatives markets becoming more exchange-like
Every three years the Bank for International Settlements releases a survey of over-the-counter derivatives markets. The survey is the most comprehensive source of information about the size and structure of these markets, and yields important insights into long-term trends in trading. In September the BIS released the data from its most recent survey, which was based on reports submitted by almost 1,300 dealers in 53 countries. That data showed a huge increase in the turnover of interest rate derivatives. Between April 2016 and April 2019, average daily turnover rose from $2.7 trillion to $6.5 trillion, an increase of 143%, an order of magnitude larger than in previous years.
CONTINUE READINGMcKay Brothers extends low-latency connectivity to Shanghai, Hong Kong
McKay Brothers International, a provider of low latency telecommunications between financial markets, is offering what it claims is the lowest known commercial latency between Tokyo and trading centers in Shanghai and Hong Kong as it seeks to cater to speed-conscious market participants in the region.
CONTINUE READINGCFTC increases transparency, reopens comment on capital requirements for swap dealers
The U.S. Commodity Futures Trading Commission acted on Dec. 10 to reopen the comment period on a 2016 proposal regarding capital requirements for swap dealers. Two of the CFTC's five commissioners opposed the move, however, calling instead for a more thorough rulemaking process.
CONTINUE READINGDerivatives markets eager for sustainable finance opportunities
Leaders across the global derivatives industry agree: Doing the right thing is important, but the path to a sustainable future for the global economy depends on following the money, too.
CONTINUE READINGFIA and FIA PTG decry CFTC’S prescriptive approach
On May 1, FIA and the FIA Principal Traders Group submitted a joint comment letter opposing overly prescriptive regulation of automated trading.
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