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  • FIA EPTA response to the FCA Consultation on Improving transparency for bond and derivatives markets (FCA CP 23/32)

    FIA EPTA welcomes the FCA’s proposals on improving bonds and derivatives transparency. Our members are very supportive of both the ambition and simplicity shown regarding both pre-trade and post-trade transparency. A less complex regime will be easier for firms and trading venues to comply with and administer and above all will make UK capital markets more attractive. The inclusion of sovereign bonds in this ambitious framework is a particularly innovative step and will support the growth and competitiveness of UK capital markets with tangible benefits to the real economy.

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  • MNPI and Physical Commodities Markets

    Sullivan & Cromwell’s Commodities, Futures and Derivatives team will discuss recent CFTC and SEC enforcement actions involving MNPI-related violations and their implications for physical commodities and derivatives markets and market participants.

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  • FIA EPTA Public Comment on IOSCO’s Consultation Report on Market Outages

    FIA EPTA members welcome the opportunity to respond to IOSCO’s consultation on market outages and are supportive of the work being done on this topic, particularly efforts to require trading venues to publish clear comprehensive outages plans on an ex-ante basis. Market resilience is at the core of efficient and competitive financial markets and it is imperative that trading venues clearly outline a well-planned approach to communication and management in the event of a market outage to provide certainty to market participants.

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  • FIA EPTA Response to ESMA’s Consultation Paper on Technical Advice on the CSDR Penalty Mechanism

    FIA EPTA members are supportive of effective measures to improve settlement discipline and efficiency in Europe, particularly in light of discussions concerning shortening settlement cycles. However, we urge ESMA to further consider their proposals put forward in the Consultation Paper on Technical Advice on the CSDR Penalty Mechanism, particularly regarding application of progressive penalty rates.

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  • ETD Volume - January 2024

    Worldwide volume of exchange-traded derivatives reached 16.79 billion contracts in January, the highest level ever recorded. This was up 10.7% from December 2023 and up 97.2% from January 2023. 

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  • Trust But Verify

    From more aggressive use of “cooperation factors” to extensive undertakings that impose monitors or require the use of external consultants, financial regulators have changed how they pursue and how they ultimately conclude their enforcement matters.

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  • FIA EPTA response to FCA CP23/27 on reforming the commodity derivatives regulatory framework

    FIA EPTA’s members support the FCA’s objectives of promoting market integrity and resilience and preventing disorderly trading and settlement in the commodity markets and our members generally welcome the proposals included in the consultation. We restrict our comments, therefore, to a limited number of issues, as set out in our response.

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  • New paper highlights the role of liquidity providers in efficient markets

    Analysis of market data from a day when a partial outage prevented liquidity providers from accessing a major pan-European exchange has revealed that their absence materially decreased volumes and increased the cost of trading.

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  • FIA announces 2024 Hall of Fame honorees

    FIA today announced the induction of 12 new members into the FIA Hall of Fame. The new members will be honored at an awards ceremony during FIA's annual International Futures Industry Conference in Boca Raton, Fla., on 12 March.

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  • 2023 Annual ETD Volume Review

    Join us for a discussion on the trends that are driving up volume and open interest across interest rate, equities and commodity markets.

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