Monday, February 12,
2018 09.12AM / News
FIA today released the following
statement in response to the announcement by three Indian exchanges that they
will impose restrictions on the licensing of indices and market data
for use by foreign exchanges to offer derivatives based on Indian stocks.
“Last Friday's announcement raises
serious concerns for FIA members. We have not yet had an opportunity to analyze
the implications of this announcement, but it appears likely to disrupt trading
on numerous exchanges around the world and alarm international investors. As
the leading trade association for the listed and cleared derivatives markets,
FIA is a strong advocate for open and accessible markets worldwide. We believe
that accessible markets are essential for the optimal growth and development of
liquidity and allow customers to hedge their risks and manage their exposures
in the most efficient way possible. We look forward to discussing this
announcement with the Indian exchanges and working with our members to more
fully understand the consequences for derivatives markets and their customers.”
FIA is the leading global trade organization for the
futures, options and centrally cleared derivatives markets, with offices in
London, Singapore and Washington, D.C. FIA’s membership includes clearing
firms, exchanges, clearinghouses, trading firms and commodities specialists
from more than 48 countries as well as technology vendors, lawyers and other
professionals serving the industry.
FIA’s mission is to:
- support open, transparent and competitive markets,
- protect and enhance the integrity of the financial system, and
- promote high standards of professional conduct.
As the principal members of derivatives clearinghouses
worldwide, FIA's clearing firm members play a critical role in the reduction of
systemic risk in global financial markets.