News Centre

Financial System Remains Vulnerable To Further Liquidity Strains, FSB Warns

Date 06/09/2023

• The progress report presents findings of work to assess and address “key amplifiers” of liquidity stress in non-bank financial intermediation (NBFI).
• The report on the financial stability implications of NBFI leverage identifies pockets of high leverage in the NBFI sector and outlines the policy implications.
• The March 2020 market turmoil and subsequent events, including the failure of Archegos and strains in commodities and bond markets, underscore the need to enhance the resilience of the NBFI sector.

Bank Of England: The End Of The (Libor) World As We Know It – Remarks By Arif Merali - Given At A Libor Transition Panel Discussion Hosted By Deutsche Bank, London

Date 06/09/2023

Arif Merali answers questions on the transition away from Libor, considering how we got to where we are today, what remains to be done and lessons learnt from the experience. He highlights the importance of public-private partnerships and international coordination in achieving the extraordinary shift in financial markets to risk-free rates.

Global Green Bond Initiative Strengthened By A New Strategic Partnership To Foster Green Capital Markets

Date 06/09/2023

The coalition of development finance institutions and multilateral organisations making up the Global Green Bond Initiative (the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), Italy’s Cassa Depositi e Prestiti, the Spanish Agency for International Development Cooperation (AECID), Germany’s KfW development bank, PROPARCO of the AFD Group, acting as a consortium of European development finance institutions and the Green Climate Fund (GCF)), today launched a strategic partnership with the Inter-American Development Bank (IDB) and IDB Invest to cooperate on technical assistance for promoting green bond markets in Latin America and the Caribbean, at an event attended by representatives of the European Commission. The declaration was signed in Cartagena, Colombia, at the Finance in Common Summit, held from 4 to 6 September.

ISDA Response To EC Proposal On ESG Ratings

Date 06/09/2023

On September 1, ISDA submitted a response to the European Commission’s consultation on its proposal for the regulation of environmental, social and governance (ESG) ratings. ISDA supports a regulatory framework for ESG ratings based on recommendations set out in a report on ESG ratings and data product providers by the International Organization of Securities Commissions, with a view to enhance transparency and integrity of the market. 

Euronext Announces September 2023 Quarterly Review Results Of The BEL® Family Indices

Date 06/09/2023

Euronext today announced the results of the September 2023 quarterly review for the BEL 20®, BEL Mid®, BEL Small® and BEL® ESG, which will take place after markets close on Friday 15 September 2023 and be effective from Monday 18 September 2023.

ESMA Updates The European Single Electronic Format Reporting Manual

Date 06/09/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today published the annual update of its Reporting Manual on the European Single Electronic Format (ESEF).

Calibrating Controls To Build Confident Markets, Speech By Sarah Pritchard, UK Financial Conduct Authority, Executive Director Of Markets And International At The Financial Crime Summit 2023 By 1LoD.

Date 06/09/2023

Highlights

• Fighting financial crime is about upholding our standards and boosting our competitiveness.  
• Firms should calibrate their financial crime fighting systems to the right risk level – whether that be high or low - and expect spot checks by the FCA. Our sanctions update identifies good and bad practice. 
• Domestic Politically Exposed Persons (PEPs) should generally be treated as a lower risk, and we will act immediately if we see firms persistently acting disproportionately. 

Euronext Announces September Quarterly Review Results Of The PSI®

Date 06/09/2023

Euronext today announced the results of the quarterly review for the PSI®, which will be implemented after markets close on Friday 15 September 2023, and be effective from Monday 18 September 2023.

Liquidity Is Likely To Stay Starved As The ‘Higher Rates For Longer’ Reality Settles In, By Jeffrey O'Connor, Head Of Market Structure, Americas, At Liquidnet

Date 06/09/2023

“Every year the market expects a return to normalcy when we hit September, yet it rarely happens.  Overall U.S. market volumes last week were some of the weakest of the past two years. This is not surprising given heavy vacation schedules at the end of August, but very often it takes 1-2 weeks for the market to settle into the homestretch personality. "

BGC Group, Inc. Commences Offers To Exchange Three Series Of Notes Issued By BGC Partners, Inc. For Notes Issued By BGC Group, Inc.

Date 06/09/2023

BGC Group, Inc. (Nasdaq: BGC) ("BGC Group" or the "Company") today announced the commencement of offers to exchange (the "exchange offers") any and all validly tendered (and not validly withdrawn) and accepted notes of the three series described in the table below (collectively, the "Old Notes") issued by BGC Partners, Inc., BGC Group's wholly-owned subsidiary ("BGC Partners"), for notes to be issued by BGC Group as described in the table below (collectively, the "New Notes"). A registration statement on Form S-4 relating to the issuance of the New Notes was filed with the U.S. Securities and Exchange Commission ("SEC") on September 6, 2023 (the "Registration Statement") but has not yet been declared effective. Copies of the preliminary prospectus dated September 6, 2023 (the "Prospectus"), which forms a part of the Registration Statement, and the related letter of transmittal and consent (the "Letter of Transmittal") are available to holders through the exchange agent and information agent, D.F. King & Co., Inc., by calling (212) 269-5550 (toll-free) or (877) 732-3614 (for banks and brokers) or by emailing bgc@dfking.com.