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EACH Response: Financial Conduct Authority & Bank of England Joint Vision – Tokenisation for UK Wholesale Markets – July 2026

EACH calls for technology-neutral regulation to unlock the benefits of tokenisation
 
EACH has responded to the Financial Conduct Authority (FCA) and Bank of England’s Joint Vision for Tokenisation in UK Wholesale Markets, welcoming the initiative as a timely step in providing clarity for financial markets. We particularly emphasise:
  • The support the FCA and Bank of England’s vision
  • That tokenisation creates opportunities via tokenised collateral, digital cash and DLT to improve collateral mobility, settlement efficiency and cross-border operations.

  • The importance of a technology-neutral regulation based on the principle of “same risk, same regulatory treatment.”
  • Tokenisation complements existing standards for risk management, netting, settlement finality and operational resilience.
  • Encourages greater international interoperability and alignment between UK, EU and global initiatives.

EACH Response: CPMI-IOSCO Margins & PQD implementation – June 2026

EACH supports global consistency in implementing margin transparency standards
EACH has responded to the CPMI-IOSCO consultation on updated guidance and public disclosures for implementing initial margin proposals. EACH welcomes the guidance as an appropriate global standard and highlights the importance of maintaining international consistency and avoiding regulatory gold-plating. We particularly emphasise:
  • The importance of the CPMI-IOSCO guidance as an appropriate global standard.
  • Consistent implementation across jurisdictions
  • The benefits of historical stress events over hypothetical scenarios in margin simulators.
  • That both CCPs and clearing members have a role to play in providing margin transparency.

EACH Response – CPMI-IOSCO consultation “FMIs’ management of general business risks and general business losses: Further guidance to the PFMI” – February 2026

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