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ISDA and GFXD endorse FCA proposal to remove SI self-identification requirement for derivatives trading

Published on: 14 January 2025
Published by LNB News

LNB News 14/01/2025

Document Information

Issue Date: 14 January 2025

Published Date: 14 January 2025

Jurisdiction(s): World

Article summary

The International Swaps and Derivatives Association (ISDA) and the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA) have released a consolidated response to the UK Financial Conduct Authority (FCA) regarding the future of the systematic internaliser (SI) regime. The industry bodies advocated for the FCA's proposal to remove the prerequisite for firms to identify themselves as SIs for derivatives trading as it would not have any material affect on: reporting, best execution practices, or overall market structure.

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