ISDA, GFXD Respond to FCA on SI Regime for Derivatives and Bonds

On September 10, ISDA and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association responded to the Financial Conduct Authority’s (FCA) consultation paper CP25/20 on the systematic internalizer (SI) regime for derivatives and bonds.

ISDA and the GFXD support the FCA’s proposal to remove the SI regime for derivatives and bonds, and also recommend measures to address some side effects of implementing the proposal.

The consultation paper also contained a discussion paper on equity transparency and market structure, which in part contemplated bringing equity derivatives into the scope of cash equity transparency. ISDA and the GFXD strongly disagree that this is either necessary or desirable.

Documents (1) for ISDA, GFXD Respond to FCA on SI Regime for Derivatives and Bonds

ISDA Comments on Executive Order 14219

On October 23, ISDA’s North American Tax Working Group (NATWG) submitted comments in response to the US Department of the Treasury and Internal Revenue Service statement regarding taxpayer recommendations on regulations identified under Executive Order 14219, ensuring lawful governance and...