FOA Urges SFA To Extend Futures Netting Submission Deadline

MANAGEMENT & OPERATIONS

THE Futures and Options Association (FOA) is urging the Securities and Futures Authority (SFA) to extend its March 1 deadline concerning British futures market netting.

As it stands now, legal opinions for netting agreements between futures market counterparties must be submitted to the SFA, the U.K.'s futures trading regulator, by March 1.

Anthony Belchambers, chief executive of FOA, says the SFA sent out a proposal nearly a year ago requiring firms to have legal opinions to cover netting arran