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Report To The US Secretary Of The Treasury From The Treasury Borrowing Advisory Committee

Date 02/08/2023

Dear Madam Secretary:

Since the TBAC last convened in early May, two-year Treasury yields are about 100 basis points higher while ten-year Treasury yields have increased by around 40 basis points. The move higher in Treasury yields in part reflects expectations of higher policy rates from global central banks including from the Federal Reserve. Interest rate and other financial markets reflect the recent resilience of US economic growth, defying expectations for a near-term significant slowdown or recession.

Minutes Of The Meeting Of The US Treasury Borrowing Advisory Committee August 1, 2023

Date 02/08/2023

The Committee convened in a closed session at the Department of the Treasury at 10:45 a.m.  All members were present.  Under Secretary for Domestic Finance Nellie Liang, Assistant Secretary for Financial Markets Josh Frost, Deputy Assistant Secretary for Federal Finance Brian Smith, and Director of the Office of Debt Management Fred Pietrangeli welcomed the Committee.  Other members of Treasury staff present were Dini Ajmani, Sally Au-Yeung, Chris Cameron, Dave Chung, Erik Heitfield, Tom Katzenbach, Chris Kubeluis, Kyle Lee, Kabir Mehta, Hailey Ordal, Jeff Rapp, Renee Tang, and Thomas Teles.  Federal Reserve Bank of New York staff members Ellen Correia Golay, Oliver Giannotti, and Kyle Watson were also present. 

Quarterly Refunding Statement Of US Assistant Secretary For Financial Markets Josh Frost

Date 02/08/2023

The U.S. Department of the Treasury is offering $103 billion of Treasury securities to refund approximately $84 billion of privately-held Treasury notes and bonds maturing on August 15, 2023. This issuance will raise new cash from private investors of approximately $19 billion. 

CUSIP Global Services Launches New CUSIP-Based Entity Identifier For The $5T Syndicated Loan Market - Universally Accessible CUSIP Entity Identifier (CEI) Will Enable Transparency And System Interoperability Across The Global Corporate Loan Asset Class

Date 02/08/2023

CUSIP Global Services (CGS) today announced the launch of a unique entity identifier created specifically for the $5 trillion syndicated corporate loan market. The CUSIP Entity Identifier (CEI), a unique 10-character code assigned to each legal entity holding corporate loans, was developed in collaboration with the LSTA and Versana, the industry-backed digital data and technology platform transforming the global syndicated loan market.

Tel Aviv Stock Exchange (TASE) Signs Agreement With Fireblocks To Provide Technology Infrastructure For A Comprehensive Range Of Digital Asset Products & Services - The Agreement Will Advance TASE's Activity In The Field And Leverage Digital Asset Opportunities ● For The First Time In Israel, Digital Asset Services And Products Will Be Launched By A Regulated Financial Market Infrastructure Operator With Relevant

Date 02/08/2023

The Tel Aviv Stock Exchange (TASE: TASE) has signed a ground-breaking and strategic agreement with Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain. This strategic partnership empowers TASE to offer a comprehensive range of innovative and secure digital asset products and services, aligning with TASE's new strategic plan. As a result, TASE will be able to provide institutional-grade digital asset solutions for regulated entities, leveraging the most advanced technology, experience, and work processes from traditional markets, while ensuring necessary protection.

VNE S.p.A. Lists On Euronext Growth Milan

Date 02/08/2023

• 16th listing of 2023 on Euronext Growth Milan

• Vne S.p.A. brings the total number of companies listed on Euronext Growth Milan to 195

• 37th listing on Euronext in 2023

• Total placement volume of the offering equal to €3.1 million 

ESG Theme Drives 28% QoQ Rebound In Global M&A Deal Activity During Q2 2023, Reveals GlobalData

Date 02/08/2023

Global mergers and acquisitions (M&A) deals have shown a remarkable quarter-on-quarter (QoQ) rebound, surging by 28% from $469 billion during the first quarter (Q1) of 2023 to reach $602 billion during the second quarter (Q2) of 2023. After four consecutive quarters of decline, this growth signals a resurgence in deal-making activities driven by environmental, social, and governance (ESG) theme, according to GlobalData, a leading data and analytics company. 

CME Group Reports Second-Highest July ADV On Record

Date 02/08/2023

• Strongest July ADV in company history for interest rate, agricultural and options products
• SOFR futures and options continue strong ADV growth

Edaa Announces Reduction In The Settlement Of Buying And Selling Operations At Qatar Stock Exchange To T+2

Date 02/08/2023

Edaa today announced an initiative to reduce the settlement period of purchasing and selling transactions at Qatar Stock Exchange (QSE) from T+3 to T+ 2. This initiative complements Qatar Financial Market’s Development initiatives and will take effect starting January 2024. The initiative is in collaboration with Qatar Central Bank (QCB) Qatar Financial Market Authority (QFMA) and Qatar Stock Exchange (QSE). It aims to enahnce the trading mechanisms of the Qatar Financial Market, accelerating the speed of trading to attract foreign investments. 

Transition To T+1 Settlement Requires Significant Middle And Back-office Process Overhaul, New Report Suggests

Date 02/08/2023

A report from Torstone Technology, a leading SaaS platform for post-trade securities and derivatives processing, and Chartis Research, a globally recognised authority in research and advisory services, has revealed that legacy middle and back-office infrastructure needs to be upgraded to support the shift to a T+1 settlement cycle, or risk non-compliance.