The association has highlighted a portion of trading that it claims is “wholly unreported”, insisting that if said segment was included in the overall picture, then the reality of European volumes would be far more positive.
The Association estimates that the top six US clearing banks would require over $7.2 billion in additional capital for derivatives clearing services.
Equity index derivatives volumes jumped 73% in 2022, according to the Futures Industry Association (FIA) - but the increase is causing higher operational risk and capacity burdens for asset managers and buy-side traders.
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.
The FCM tracker provides industry-wide view of customer funds in futures and swaps.
Trade associations at a roundtable hosted by the FCA have questioned MiFID II rules on exchange market data pricing.