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FIA responds to B3 Clearing consultation on its recovery plan and early settlement auction
FIA has responded to B3 Clearing's consultation proposing to amend rules regarding B3's recovery plan. As part of the recovery plan, the clearinghouse is proposing to include a final auction, giving market participants a last opportunity to assist it in returning to a matched book, as well as early settlement auction or tear-up provisions in case the final auction fails.
CONTINUE READINGViewpoint - Not dead yet
Since the Brexit vote in 2016, many surmised that the best days of London as a financial center were behind her. The financial engine of mainland Europe was now an outsider looking in and many predicted that Frankfurt, Paris or even New York would replace London’s role. There is no doubt that Brexit has been a net loser financially for the UK, but for a city nearly 2,000 years old, we must look to the positives in the long game. Last week I was in London visiting FIA members and I came away energized and optimistic about the current and future state of this great city.
CONTINUE READINGFIA PTG responds to US FTC’s rule banning nearly all noncompete agreements
FIA and FIA Principal Traders Group have filed an amicus brief along with several other financial services trade associations in a case involving the US Federal Trade Commission’s recently issued rule that bans nearly all noncompete agreements in the US. In their brief, the associations highlighted the practical challenges of the rule for the financial industry and warned that it would harm competition and endanger confidential information.
CONTINUE READINGFIA responds to US FTC’s rule banning nearly all noncompete agreements
FIA and FIA Principal Traders Group have filed an amicus brief along with several other financial services trade associations in a case involving the US Federal Trade Commission’s recently issued rule that bans nearly all noncompete agreements in the US. In their brief, the associations highlighted the practical challenges of the rule for the financial industry and warned that it would harm competition and endanger confidential information.
CONTINUE READINGETD Volume - April 2024
Worldwide volume of exchange-traded derivatives reached 15.19 billion contracts in April. This was up 2.4% from March 2024 and up 89.9% from April 2023.
CONTINUE READINGPeople news – April/May 2024
Appointments, promotions, and other people news in the derivatives industry
CONTINUE READINGApril 2024 SEF trading activity
Trading volume on swap execution facilities reached $1.31 trillion in average notional value per day during April 2024, the fourth highest level ever recorded. This was up 11.6% from the previous month and up 52.4% from the same month of the previous year.
CONTINUE READINGUS lawmaker presses banking regulators on derivatives clearing issue
An influential member of the US House of Representatives is pressing US banking regulators to address concerns expressed by derivatives end-users about the proposed increase in bank capital requirements that will increase the cost of clearing.
CONTINUE READINGMutual funds have increased their holdings of US Treasury futures by 67% since 2020, according to Fed analysis
Mutual funds have dramatically increased their holdings of US Treasury futures over the last three years as they have adjusted to a higher interest rate environment and used the leverage embedded in futures to boost their returns, according to research by staffers at the Federal Reserve Board of Governors.
CONTINUE READINGFIA backs international effort to promote "effective practices" for variation margin
FIA has responded to a discussion paper released by international standard setters that sets out eight "effective practices" for streamlining variation margin in centrally cleared markets. The discussion paper addresses the need for greater transparency and understanding of margin practices at central counterparties, particularly in light of recent episodes of market volatility triggered by the COVID crisis and Russia's invasion of Ukraine.
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