The Credit division monitors developments in policy and market structure that might affect the corporate bond and loan markets.
The division develops market policy and best practice on issues related to corporate bond price transparency and valuation and over-the-counter derivatives in cooperation with the International Swaps and Derivatives Association (ISDA).
Credit division priorities
- EC MIFID II finalisation – continue to provide active technical input into the MiFID process.
- Produce educational and technical documents to help draw attention to the issues surround European credit markets.
- Participate in industry leading events, including AFME's Market Liquidity. conference, which focus on credit issues for AFME credit trading businesses.
- To monitor developments in other regulations which could impact credit trading, including short selling and others.
AFME latest news (Responses)
- AFME welcomes a report by Expert Group on European Corporate Bonds Markets (November 2017)
- AFME welcomes SEC and EC announcement on MiFID II inducement research (October 2017)
- Proposal for adaption of transparency rules under MiFID II/R
Capital Markets Union (CMU)
- CMU: Measuring progress and planning for success (September 2018)
- How Europe’s capital markets interconnect – sources (November 2016)
- European Commission FAQ on corporate bonds
- European Commission – Following up from the Call for Evidence – EU regulatory framework for financial services (December 2017)
- Recommendations to improve regulatory reporting and transparency in corporate bond markets (April 2018)
- MiFID II/ MiFIR post-trade reporting requirements (September 2017)
- MiFID II and fixed income transparency (May 2013)
- Finanstilsynet: Trade transparency and possible waivers and deferrals for non-equity instruments (June 2017)
- ESMA working Paper – Liquidity in fixed income markets – risk indicators and EU evidence (2018)
- FCA insight – New evidence on liquidity in the UK corporate bond market (2017)
- European Commission – Analysis of European Corporate Bond Markets (2017)
- FCA – Liquidity in the UK corporate bond market: evidence from trade data, Occasional Paper
- European Commission: Drivers of Corporate Bond and Market Liquidity in the EU (2017)
Mariano Goldfischer, Chair
Crédit Agricole CIB
Nicholas Bennett, Co-Chair
Wells Fargo Securities International Limited
Victor Rodriguez Garcia
Hans Henrik Duus
Deutsche Bank AG
J.P. Morgan Securities plc
Morgan Stanley & Co. International plc
RBC Europe Limited
Álvaro Ballesteros Rodríguez
UniCredit Bank AG