A survey by FIA has found that 23% of firms see fragmentation of markets as the most concerning impact of Brexit on the derivatives market.
CME Group had previously been ranked second largest in terms of trading volume, losing first place to the National Stock Exchange of India last January.
FIA has welcomed the CFTC’s rapid response to the coronavirus pandemic, which includes no-action relief from certain regulatory requirements.
Reporting of derivatives transactions under EMIR has proved problematic for firms and regulators, as trade groups call for a standardised approach.
The NSE of India traded 6 billion contracts in 2019, up 58% from the year prior, compared to 4.83 billion contracts traded at CME Group.
Don Bryon formerly led products for Fidessa’s derivatives trading platform.
FIA has said firms should be required to submit position reports for ETDs under EMIR, rather than transaction-level details.
Bruce Savage was most recently global head of regulatory affairs and market structure, listed derivatives, and markets clearing at Deutsche Bank.
Simon Pulseton Jones has resigned as head of Europe at FIA for a role outside of financial services.
Data from the Futures Industry Association (FIA) showed that equity index futures and options were a main driver for the record activity.