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Global Financial Markets Association

GFMA

The Global Financial Markets Association (GFMA) represents the common interests of the world's leading financial and capital market participants, and speaks for the industry on the most important global market issues.

Lobbying Activity

Meeting with Tatyana Panova (Head of Unit Financial Stability, Financial Services and Capital Markets Union) and International Swaps and Derivatives Association

27 Jan 2025 · Benchmark Regulation

Response to Review of the Benchmark Regulation

17 Sept 2020

Please see attached the response from the Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA)
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Response to Review of the Benchmark Regulation

15 Apr 2020

The Asia Securities Industry & Financial Markets Association (“ASIFMA”) and the Global Foreign Exchange Division (“GFXD”) of the Global Financial Markets Association welcomes the opportunity to provide comments to the European Commission Inception Impact Assessment on the Review of the EU Benchmark Regulation. Please find attached our comments.
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Meeting with Elina Melngaile (Cabinet of Vice-President Valdis Dombrovskis), Jan Ceyssens (Cabinet of Vice-President Valdis Dombrovskis)

26 Jun 2018 · Brexit, Sustainable Finance and Cybersecurity

Meeting with Valdis Dombrovskis (Vice-President) and Deutsche Bank AG and

1 Dec 2017 · Introductory remarks and roundtable with EU financial industry and AFISMA/European Chamber of Commerce on financial reforms and banking union

Meeting with Valdis Dombrovskis (Vice-President) and BlackRock and

30 Nov 2017 · Speech at EU-Asia Financial Services Dinner Reception on growth and investment in Europe; Fintech and sustainable finance

Response to Further amendments to the European Market Infrastructure Regulation (EMIR)

30 Oct 2017

Dear Sirs or Madams, The Global Financial Markets Association (GFMA) thanks the European Commission for the opportunity to respond to the proposal of 13 June 2017 regarding the procedures and authorities involved for the authorization of Central Counterparties (CCPs) and requirements for the recognition of third-country CCPs. GFMA supports the objectives to enable European Union (EU) authorities to more efficiently monitor and mitigate risk of a CCP by streamlining the supervision of CCPs established in the EU and to enhance arrangements for supervision of third-country CCPs. As the proposal is considered by the European Parliament (EP) and the Council of the European Union (Council) GFMA calls upon the European Commission to communicate the importance of policymakers to foster the efficient cross border access to clearing and to evaluate the impact of the proposal on the incentives for clearing. Please also consider the economic risk of causing markets to fragment and the importance of maintaining a level playing-field for market participants when designing the authorization and supervision framework for third-country CCPs. GFMA is supportive of policymakers developing enhanced supervisory standards that support global market efficiency, financial stability and end-user choice. Additional comments are included in the attachment. We value this opportunity to provide feedback to European Commission and remain available to provide further information on any of the above matters. Please contact Allison Parent, (aparent@gfma.org), with any inquiries.
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Response to Calculation of total values of references to benchmarks

20 Jul 2017

Please see the attached comment letter on behalf of GFMA, FIA, and ISDA
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Response to Application of qualitative criteria for critical benchmarks

20 Jul 2017

Please see the attached comment letter on behalf of GFMA, FIA, and ISDA.
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Response to Conditions to assess impacts of cessation or changing of a benchmark

20 Jul 2017

Please see the attached comment letter on behalf of GFMA, FIA, and ISDA
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Response to Technical elements of the definitions set out in the Benchmark Regulation

20 Jul 2017

Please see the attached comment letter on behalf of GFMA, FIA, and ISDA.
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Response to EMIR Amendment

18 Jul 2017

The Global Foreign Exchange Division (GFXD) of the Global Financial Markets Association (GFMA) welcomes the opportunity to provide feedback on the European Commission’s proposal for an amending regulation of the European Parliament and Council, amending Regulation (EU) 648/2012, the European Market Infrastructure Regulation (EMIR). The GFXD was formed in co-operation with the Association for Financial Markets in Europe (AFME), the Securities Industry and Financial Markets Association (SIFMA) and the Asia Securities Industry and Financial Markets Association (ASIFMA). Its members comprise 25 global foreign exchange (FX) market participants, collectively representing over 80% of the FX inter-dealer market. Both the GFXD and its members are committed to ensuring a robust, open and fair marketplace and welcome the opportunity for continued dialogue with global regulators. Our response to this consultation is attached.
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Meeting with Elina Melngaile (Cabinet of Vice-President Valdis Dombrovskis), Jan Ceyssens (Cabinet of Vice-President Valdis Dombrovskis) and

21 Jun 2017 · first part of the regulatory review, cross-Border regulatory coordination, cyber security, Brexit and its external impacts

Meeting with Matthew Baldwin (Cabinet of Commissioner Jonathan Hill)

19 Jun 2015 · Financial Policy

Meeting with Nathalie De Basaldua Lemarchand (Cabinet of Commissioner Jonathan Hill)

23 Mar 2015 · EU and US Regulatory Agenda in Financial Services