Many members have agreed to form formal working groups to engage with each other on important issues, such as industry regulation, Treasury and ALM activity, money market liquidity, etc. Also, often regional working groups are formed when communication needs to take place across borders in a non-partisan way.
ACIFXC Working Group
ACIFXC Mission Satement
- To inclusively represent the entire professional FX Market, including in the membership of ACI all Professional Market Participants (PMP’s), who, based on the principle of personal integrity, will individually uphold the values of the Model Code.
- The committee to be focused on and comprised of FX Experts who will support both the Executive Board and Regional ACI’s and ensure that the views of the professional FX community are heard at the highest levels, in co-operation with other associations that have an FX voice when applicable.
- The ACIFXC to work in concert with regulators and other FXC’s to promote a common global, orderly and transparent FX market and to lobby on regulatory issues as required. To recommend best practices and changes to the Model Code as and when necessary from a professional FX market perspective.
- The ACIFXC will fully represent current and future trading styles and execution choices available to the FX markets professional participants and will actively facilitate the development of Regional Foreign Exchange Markets and their integration into the global marketplace.
|Member||Denmark||Niklas Karlsson||Danske Bank|
|Member||UK||Nigel Brandon-Bravo||ex Gain GTX|
|Member||France/UK||Asif Razaq||BNP Parisbas|
|Member||USA||Wolfgang J. Koester||Fireapps|
|Member||Australia||Chris Knight||XTX Markets|
|Member||UK||Bob Noyen||Record Currency Management|
|Member||UK||John K. Estrada||CS|
|Member||The Netherlands||Tjerk Methorst||PGGM|
Derivatives Working Group
Group of professionals established in 2001 to address issues related on interest rates and foreign exchange derivatives, with a special focus on the Eonia swap market in the Eurozone and beyond.
Members represent most of the active banks in derivatives market in the Euro area UK and Switzerland.
|Chair||France||Eric Duclos||BNP Banque Nationale de Paris|
|Members||Belgium||Geert Pacolet||KBC Bank|
|Members||Italy||Fabrizio Tallei||Banca Intesa|
|Members||France||Michael Zrihen||Credit Agricole Lyonnais|
|Members||Austria||Hugo Neuhold||BankAustria Vienna|
|Members||Spain||Francisco Javier Fernandez||BBVA Madrid|
|Members||Germany||Lothar Matzat||Deutsche Postbank|
|Members||Switzerland||Yvan Ducrot||UBS AG Zurich|
|Members||Ireland||Alan Malone||Allied Irish Dublin|
|Members||Belgium||Nico Van Hiel||Fortis Bank Brussels|
|Members||England||Nicolas Dechosal||BOA London|
|Members||Milano||Marco Aschieri||HVB (Unicredito) Milan|
|Members||England||Philippe Moryoussef||RBS London|
|Members||Germany||Michael Winkel||Commerzbank AG|
|Members||Portugal||Rui Correia||Barclays Bank, Plc|
EURIBOR - The Vision of EBF and ACI
Beginning in 1997 the European Banking Federation (EBF) and ACI The Financial Markets Association (ACI) - with the support of thirteen affiliated European ACI associations - started negotiations on the founding of an Euribor® (Euro Interbank Offered Rate) fixing. In 1999 eleven countries adopted the EUR, the third stage of EMU set the irrevocable fixing of the exchange rates. The commencment date of the first Euribor fixing was 4 January 1999. The EURO Interbank Offered Rate - "EURIBOR" - is the money market reference rate for the euro. It is the rate at which euro interbank term deposits are being offered by registered panel banks - at 11.00 a.m. Brussels time.
EURIBOR ACI and EURIBOR EBF are international non-profit association under Belgian law founded in 1999 with the launch of the Euro. EURIBOR ACI members are representatives from ACI affiliated associations whilst EURIBOR EBF members are national banking associations in the Member States of the European Union.
Group of professionals, established in August 2004, who represents ACI at the European commission and ESMA, promotes meetings with European Financial Authorities and takes part in public consultations when affecting to Financial Markets.
Members represents euro countries and Switzerland.
|Chair||Spain||Enrique Prados del Amo||Gesmosa-GBO S.A. AV|
|Members||France||Etienne Jardel||Société Générale|
|Members||Portugal||José António Brito||Caixa Geral de Depósitos|
|Members||Italy||Paolo Bosio||Banca MPS|
|Members||Switzerland||Rainer Thueer||UBS AG|
Money Market & Liquidity Working Group
Group of professionals to address issues related to money markets, liquidity and regulations in the Eurozone and beyond.
MMLWG meets three to four times a year and setups conference calls with a focus on treasury and liquidity issues if urgent matters need to be discussed and addressed.
Members represents all euro countries and two associated members from UK and Switzerland.
ECB participates in MMLWG meetings as an observer.
First working group within the ACI Euribor established in July 1999 at the ACI Milan congress.
Minutes of Meeting
|Chair||Greece||Zinia Chatzimpei||National Bank of Greece|
|Member||Ireland||Darach O'Laery||Bank Of Ireland|
|Member||France||Frederic Pailloux||Societe Generale|
|Member||Switzerland||Jacques Piasko||Bank Julius Baer|
|Member||Portugal||Jose Carlos Mateus||Montepio Lisbon|
|Member||Spain||Luis Soutullo Esperon||Cecabank Madrid|
|Member||Finland||Marjo Personen||Nordea Bank Helsinki|
|Member||Spain||Miguel Angel Monzon Garcia||BBVA Madrid|
|Member||France||Pierre Le Veziel||Credit Agricole Corporate & Investment Bank|
|Member||Belgium||Stefaan van de Mosselaer||BNP Paribas Fortis Brussels|
|Member||Denmark||Kim Winding Larsen||Danske Bank|
|Guest||Europe||Bruno Langfritz||ACI Intl|
|Guest||France||Dominique Le Masson||ACI France|
|Guest||France||Franck Hebeisen||ACI France|
Regulatory Working Group
|Chair||Denmark||Christine E. Habel||PFA Pension|
|Vice-Chair||Denmark||Kim Winding Larsen||Danske Bank|
|Member||Czech Republic||Josef Jericha||Citigroup|
|Member||United States||John Drohan||Drohan Lee|
|Member||The Netherlands||Celine Da Silva||ABN AMRO|
|Member||The Netherlands||Arif Kallan||ABN AMRO|
|Observer||The Netherlands||Frank Beset||Rabobank|
|Member||United Kingdom||Anne-Maria Wilfling-Rothenstein||Adsatis|
Regulatory Working Group Documents
10 February 2016: The European Commmission extends by one year the application date for MiFID II package.
Please find the following documents from various regulatory consultations from the European Commission. We trust that this information will be of interest to you. Should you be interested in assisting the ACI FMA on these matters, or should you have a question, please contact the ACI Regulatory Working Group by phone or email. We will be delighted to help.
More information: Textof MiFID II directive and regulation.