The European Commission’s decision to adopt an implementing decision on equivalence of the legal and supervisory framework for US-designated contract markets and swap execution facilities (SEFs) is a welcome step forward according to the MFA.
MFA President and CEO Richard H Baker (pictured), says: “Today’s decision by the European Commission is an important step towards international regulatory convergence on derivatives trading venues.
“We believe this decision moves us in that direction by facilitating capital and liquidity formation and promoting fair, efficient, and orderly derivatives markets. MFA contributed an important comparative analysis of the CFTC and EU derivatives trading and transparency regimes to facilitate equivalence discussions. We have consistently focused on the need to create a level regulatory playing field across jurisdictions.
“We thank the European Commission and the CFTC for the constructive engagement they undertook to arrive at this point.”