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FIA PTG Responds to SEC Cybersecurity Risk Management Proposal
In a letter filed today with the Securities and Exchange Commission (SEC) in response to the Risk Management Proposal, the FIA Principal Traders Group (FIA PTG) recommended that the SEC prioritize critical operations as focus of rule scope and requirements; take into account firm attributes, market structure and service provider due diligence mechanisms as part of reasonably designed policies and procedures; leverage the Financial Services Information Sharing and Analysis Center (FS-ISAC) for incident reporting and threat analysis; eliminate public disclosure requirements and associated risk in favor of Reg S-P customer notifications; and address implementation and enforcement concerns in the adopting release.
CONTINUE READINGCFTC approves updated DCO governance rules
The US Commodity Futures Trading Commission held a public meeting on 7 June where it unanimously approved a final rule on governance requirements for Derivatives Clearing Organizations (DCOs), which updates information requirements associated with customer funds and futures and swaps positions in the same account. The CFTC also advanced an item related to DCO recovery and resolution planning.
CONTINUE READINGChina progresses with Futures and Derivatives Law implementing rules
The China Securities Regulatory Commission has issued several draft regulations for consultation in recent months to enhance and modernise China's derivatives markets.
CONTINUE READINGFIA EPTA response to the FCA Consultation on Remuneration: Enhancing proportionality for dual-regulated firms
FIA EPTA members welcome the opportunity to respond to the FCA’s Consultation Paper CP23/11 on Remuneration: Enhancing proportionality for dual-regulated firms. While FIA EPTA does not represent dual regulated firms, we are fully supportive of FCA work to enhance proportionality and tailor rules to the size, scope and risks posed by UK regulated firms and to enhance competition by encouraging growth in the market and the overall competitiveness of the UK economy.
CONTINUE READINGEnergy Transition: Trends in Derivatives Transactions
There are strong market imperatives for financial institutions and corporates to embrace the transition to cleaner energy sources. The Inflation Reduction Act, as well as other government policies, have also created strong incentives for the same.
CONTINUE READINGIs there a future for indirect clearing?
Of all the areas of impending European regulation, the provisions relating to the indirect clearing of swaps and futures are proving to be among the most challenging for the centrally cleared derivatives industry
CONTINUE READINGFIA PTG Responds to Regulation Systems Compliance and Integrity Expansion Proposal
In a letter filed today with the US Securities and Exchange Commission in response to the Regulation Systems Compliance and Integrity Expansion Proposal (Reg SCI), the FIA Principal Traders Group (FIA PTG) said that the SEC has not justified expanding Reg SCI to broker-dealers nor has it adequately considered alternatives and the impact on competition.
CONTINUE READINGMay 2023 SEF trading activity
Trading volume on swap execution facilities reached $882.9 billion in average notional value per day during May 2023. This was up 3% from the previous month but down 5.2% from the same month of the previous year.
CONTINUE READINGMarketVoice Podcast - The History and Legacy of the Commodity Futures Mode
FIA President and CEO Walt Lukken discusses the history and the legacy of the Commodity Futures Modernization Act of 2000, the importance of principles-based regulation, and the regulatory building blocks of the exchange-traded derivatives industry with David Greely of SmarterMarkets.
CONTINUE READINGFIA New Member Profile - GFO-X
GFO-X services large global institutional participants who require a regulated, institutional-grade trading venue for digital asset derivatives, including bitcoin index futures and options.
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