In their efforts to understand the growth of the basis trade in US Treasury markets, regulators have started looking at the other side of the trade – the asset managers buying ever larger amounts of Treasury futures.
CONTINUE READINGFIA EPTA response to the first section of ESMA’s Third Consultation Package on MiFIR Level 2 measures. This package includes proposed changes to RTS 1, the Liquid Market definition and equity CTP input/output requirements. FIA EPTA’s response is confined to the proposals regarding SI equity pre-trade transparency in RTS 1.
CONTINUE READINGFIA COO Jackie Mesa moderated a discussion with Commodity Futures Trading Commission Chair Rostin Behnam at the 2024 Treasury Market Conference, an annual event co-hosted by the US Treasury Department, the Federal Reserve Board of Governors, the Federal Reserve Bank of New York, the Securities and Exchange Commission, and the CFTC. Behnam addressed FMX’s entrance into the US interest rate futures and the role of LCH as the clearinghouse for FMX.
CONTINUE READINGTraditionally, in contrast to the securities industry, transactions involving commodities and commodity derivatives have not been associated with extensive disclosures. After the Dodd Frank amendments, swap dealers are required to provide certain disclosures to their counterparties. Recent CFTC enforcement actions involving disclosure requirements test the outer boundaries and scope of required disclosures, in part channeling disclosure requirements imposed by the SEC. This seminar will discuss these requirements, emerging enforcement trends as well as developing industry responses, including in the United States, European Union and United Kingdom.
CONTINUE READINGFIA has updated its CCP Tracker visualizations with data from the second quarter.
CONTINUE READINGIndustry and regulatory focus on the European Union’s Capital Markets Union ramped up several notches this month with the publication of Mario Draghi's highly anticipated report on Europe's competitiveness, as well as papers from FIA and FIA European Principal Traders Association, among others.
CONTINUE READINGKraken is one of the world’s longest-standing crypto platforms. Its mission is to accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion. Globally, Kraken clients trade more than 200 digital assets and six national currencies including GBP, EUR, USD, CAD, CHF, and AUD.
CONTINUE READINGFIA, AIMA, EBF, EFAMA and ISDA have sent a letter urging the European Commission and European Supervisory Authorities to clarify that market participants are not required to implement the European Market Infrastructure Regulation (EMIR 3.0) Level 1 provisions prior to the date of application of the associated Level 2 regulatory technical standards (RTS).
CONTINUE READINGEarlier this month, FIA hosted its annual commodities forum in Houston, Texas. In the hometown of the energy industry, we brought together people from across the commodities landscape for discussions about how much the energy industry has changed and what opportunities for the futures industry lie ahead. Listening to our speakers, I heard the same refrain: demand will increase even more as energy markets grow increasingly complex and volatile.
CONTINUE READINGWorldwide volume of exchange-traded derivatives reached 19.35 billion contracts in August, the highest level ever recorded. This was up 1.9% from July 2024 and up 38.6% from August 2023.
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