News Centre

Joint Committee Of The ESAs To Focus On Digital Resilience And Sustainability Disclosures In 2025

Date 07/10/2024

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) published today its Work Programme for 2025, placing particular emphasis on ongoing collaboration to tackle cross-sectoral risks, promoting sustainability in the EU financial system and strengthening financial entities’ digital resilience.

ICE Mortgage Monitor: Average Payment Hits All-Time High - Spiking Insurance Costs Rising At 3X The Rate Of Principal, Interest, And Taxes

Date 07/10/2024

• The average monthly payment (principal, interest, taxes and insurance, or PITI) among active mortgages hit a record $2,070 in August; up $140 (+7.2%) from last year and $399 (+19.3%) since the start of 2020
• Average PITI on loans originated in the last two years is $600 per month higher than that of 2020/2021 vintage mortgages, with two-thirds of each payment devoted to paying down interest
• In contrast, just 12% of the monthly payment among 2023/24 mortgages goes directly toward principal reduction – less than half the comparative average for other recent vintages
• Though older loans have lower PITI, 35% of those payments go toward variable costs, such as taxes and insurance, that are at risk of increase even as principal and interest components remain fixed
• All aspects of mortgage payments are rising as home prices, loan balances, interest rates and taxes have trended higher, with average principal, interest and tax payments up 15-17% since the start of 2020
• Increased property insurance costs stand out; the average monthly insurance payment is up 52% since the start of 2020, with increases in some higher-risk areas as high as 90% over that same period
• Rising premiums are due, in part, to higher home prices, but a direct comparison of mortgages analyzed shows a sharp jump from an average $4.65 per $1K covered from 2013-2022 to $5.38/$1K in July 2024
• In New Orleans and Miami, property insurance is ~$17/$1K in coverage, more than 3X the U.S. average; higher costs also extend beyond hurricane zones and into the tornado and hail risk of the central states
• On average, insurance premiums account for 9.4% of monthly mortgage payments, up from less than 7.7% from 2013-2020, hitting their highest share on record
• In high-risk areas, property insurance can make up as much as 25% of the average mortgage holder’s overall monthly PITI payment

Borsa İstanbul And IFC Organize GSS Bonds Executive Training

Date 07/10/2024

Borsa İstanbul hosts the “Green, Social, and Sustainability Bonds Executive Training” organized in partnership with the International Finance Corporation (IFC), a member of the World Bank Group that focuses on private sector operations, to inspire green bond issuance in developing countries.

Tehran Securities Exchange Rings WIW2024 Bell

Date 07/10/2024

World Investor Week Ceremony was held in Tehran Securities Exchange on Monday 07 October 2024.

HKEX Welcomes UK Court Ruling

Date 07/10/2024

HKEX Chief Executive Officer, Bonnie Y Chan, said: “We are delighted that the UK Court of Appeal today ruled unanimously in the London Metal Exchange’s favour and dismissed the appeal by Elliott, confirming that the LME acted lawfully and in accordance with its legal obligations during the nickel events in 2022. I would like to congratulate the LME team, led by Matthew Chamberlain, on this outcome, which recognises the important role the LME plays in placing the interest of the market as a whole, at the front and centre, at all times. As an exchange operator, we have an important and unique role to support global markets and economies by running a fair, trusted and well-regulated market, fostering more connectivity for the benefit of all stakeholders. It is now time to look to the future and focus on the incredible opportunities ahead for the LME and for our global commodities business at this pivotal moment in the global energy transition, as we focus on the vital role that we play in connecting capital, ideas and market participants around the world.”

UK Government: HM Treasury Treatment Of Overseas Investment Exchanges In The Capital Requirements Regulation

Date 07/10/2024

Introduction

1.1 In 2022, HM Treasury asked for views on changes that could be delivered, alongside the Basel 3.1 process, which would support the competitiveness of the prudential regime in the UK.

1.2 In particular, HM Treasury asked for views on the prudential treatment of overseas exchanges and the process by which they meet the definition of “recognised exchanges” under the Capital Requirements Regulation (CRR).

UAE Securities And Commodities Authority Launches An e-Service For The Payback Of Unclaimed Dividends Through FAB

Date 07/10/2024

The Securities and Commodities Authority (SCA) announced the launch of an e-service for the payback of unclaimed dividends (dating back to before March 2015) to shareholders of locally listed public joint stock companies in collaboration with the First Abu Dhabi Bank (FAB), which was appointed by SCA in February this year to handle the dividend payment process to shareholders. 

HKEX Monthly Market Highlights

Date 07/10/2024

Highlights

- Securities Market

• Market capitalisation was $36.9 trillion at the end of September 2024, an increase of 16 per cent from $31.8 trillion at the end of August 2024, and an increase of 15 per cent from $32.1 trillion for the same period last year.
• The average daily turnover in September 2024 was $169.2 billion, an increase of 77 per cent when compared with $95.5 billion in August 2024, and an increase of 87 per cent from $90.3 billion for the same period last year.
• The average daily turnover for the first nine months of 2024 was $113.3 billion, an increase of 3 per cent when compared with $109.7 billion for the same period last year.
• The average daily turnover of ETFs for the first nine months of 2024 was $13.0 billion, an increase of 8 per cent when compared with $12.0 billion for the same period last year.
• The average daily turnover of L&I Products for the first nine months of 2024 was $2.4 billion, an increase of 4 per cent when compared with $2.3 billion for the same period last year.
• The average daily turnover of Debt Securities for the first nine months of 2024 was $580 million, an increase of 26 per cent when compared with $460 million for the same period last year.
• On 30 September 2024, turnover reached a record high of $505.9 billion.
• On 30 September 2024, turnover of Northbound Stock Connect and Southbound Stock Connect reached record high of RMB356.9 billion and HK$208.7 billion respectively.
• Funds raised through IPOs# for the first nine months of 2024 was $55.6 billion, an increase of 123 per cent when compared with $24.9 billion for the same period last year.
• Total funds raised for the first nine months of 2024 was $124.7 billion, an increase of 25 per cent when compared with $99.9 billion for the same period last year.

Exchanges Around The World Ring The Bell To Support Financial Literacy

Date 07/10/2024

The World Federation of Exchanges (“WFE”), the global industry group for exchanges and CCPs, is holding its fifth annual Ring the Bell for Financial Literacy event, to promote awareness of the role and importance of investor education and protection.

Paul Marriott-Clarke Joins Worldline To Drive Merchant Services Business

Date 07/10/2024

Worldline [Euronext : WLN], a global leader in payment services, announces the appointment of Paul Marriott-Clarke as Head of Merchant Services business, effective 7 October 2024.