EACT Letter to the European Commission on the definition of FX derivatives

The EACT has sent a letter to the European Commission concerning the work currently undertaken on the definition of foreign exchange (FX) derivative instruments under the delegated acts of MiFID 2. With our letter we seek to draw the Commission's attention to the fact that the draft definition currently being considered by the Commission would still result in inconsistent interpretation and we are therefore proposing additional wording in line with the existing wording in EMIR.