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U.S. and European Trade Associations Issue Joint Statement on Transatlantic Trade and Investment Partnership (Mar. 25, 2014)

FIA joined with 14 other U.S. and European trade associations in urging policymakers in the U.S. and Europe to include financial services in the Transatlantic Trade and Investment Partnership. The joint statement was issued on March 25 in advance of the EU-U.S. Summit in Brussels on March 26 attended by U.S. President Barack Obama, European Council President Herman Van Rompuy and European Commission President José Manuel Barroso.

FIA Comments on Technical Aspects of Basel III Leverage Ratio (Mar. 17, 2014)

On March 17 FIA joined six other trade associations in sending a joint letter to the Basel Committee on Banking Supervision with feedback on the final leverage ratio framework, a key part of the Basel III capital rules. The letter includes several recommendations for clarifying technical aspects of the leverage ratio framework as it relates to the clearing of futures, options and other derivatives.

FIA Requests Confirmation of Interpretation of CFTC Rule 1.73 Regarding SEFs and Bunched Orders (Jan. 31, 2014)
On Jan. 31 FIA submitted a letter to CFTC staff seeking confirmation that Rule 1.73 does not apply to agency-executed transactions on swap execution facilities. "Because the clearing FCM has the opportunity to screen the agency-executed swap transaction on a SEF for compliance with its limits before the transaction is executed and accepted for clearing, the executing agent has no need to screen swap orders for compliance with these limits," FIA wrote. 

FIA also requested confirmation that bunched orders will not be subject to a provision in Rule 1.73 that applies to “give-ups” involving individual customers. FIA explained that because bunched orders involve multiple customers and do not identify at the time of execution the customers on whose behalf the order is executed or the amount of the order that is due to a particular customer, an initial clearing firm would not be able to apply and screen an individual customer limit.

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