Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that it has extended its global product licensing agreement with Eris Innovations, an intellectual property licensing company that partners with global exchanges to design futures products based on its patented Eris Methodology.
FIA President and CEO Walt Lukken today released a white paper that expresses FIA’s concerns about increased fragmentation of the global listed and cleared derivatives markets due to inconsistent and duplicative regulatory frameworks. Further, the paper urges regulators to embrace the principles of reliance and regulatory cooperation and makes recommendations on how to avoid increased fragmentation in the regulation of cross-border activity in the global derivatives markets.
ISDA sent a letter to ESMA and the European Commission commenting on the proposed technical standards on Brexit-related novations. ISDA welcomes these standards that seek to give relief from the margining and clearing requirements to OTC derivative contracts that are transferred (novated) from a UK to an EU counterparty. However, the fact that the relief is contingent on the event of a no-deal Brexit makes it operationally difficult for firms to enter into agreements to novate contracts.
The International Swaps and Derivatives Association (ISDA), The Futures Industry Association (FIA) and the Institute of International Finance (IIF), collectively the Associations, represent the largest number of participants in national and global clearing, banking and financial markets. The Associations appreciate this opportunity to comment on the discussion paper “Financial resources to support CCP resolution and the treatment of CCP equity in resolution” (the discussion paper).