News Centre

SEC Charges Father-Son Duo And Associate In Market Manipulation Schemes Resulting In A New Jersey Deli With A $100 Million Valuation

Date 26/09/2022

The Securities and Exchange Commission today charged Peter L. Coker Sr., Peter L. Coker Jr., and James T. Patten for their roles in orchestrating fraudulent manipulative securities trading schemes. These schemes included artificially inflating the share price of Hometown International, which operated a New Jersey deli producing less than $40,000 in annual revenue, from approximately $1 per share in October 2019 to nearly $14 per share by April 2021, leading to a grossly inflated market capitalization of $100 million.

CFTC Orders California Trader And Prop Firm To Pay $750,000 For Spoofing In Treasury Futures

Date 26/09/2022

The Commodity Futures Trading Commission today issued two orders simultaneously filing and settling charges against Randy Chen (Chen), a California resident, and Tanius Technology, LLC (Tanius), a proprietary trading firm headquartered in California, for spoofing in 12 futures contracts—primarily, but not exclusively, Treasury futures contracts—on the Chicago Mercantile Exchange (CME).

CFTC Commissioner Christy Goldsmith Romero Calls For Nominations And Topics For The Technology Advisory Committee

Date 26/09/2022

Commodity Futures Trading Commission Commissioner Christy Goldsmith Romero, sponsor of the Technology Advisory Committee (TAC), today called for committee-membership nominations and potential topics for TAC meetings.

Transcend Appoints Securities Finance Veteran Jeff Kidwell As Director Of Sales For North America

Date 26/09/2022

Transcend, a leading provider of optimization solutions for liquidity, funding, and collateral, has appointed Jeff Kidwell as Director of Sales for North America. Kidwell will focus on growing Transcend’s securities finance footprint in North America and will report to Transcend’s Head of Sales & Business Development BJ Marcoullier.

Hackers Deposit Stolen Funds In 3pool - Kaiko Research: Data Debrief

Date 26/09/2022

Another week, another massive crypto hack. Last week, Wintermute, one of the largest cryptocurrency market makers, was exploited for $160mn likely due to a bug associated with its wallet address. According to the CEO, only the firm’s DeFi unit was impacted while CeFi and OTC operations remain unaffected. A series of transactions quickly followed the hack which saw 112 million tokens transferred to Curve’s 3pool. The 3pool is one of the largest liquidity pools in DeFi, enabling swaps between the stablecoins USDC, USDT and DAI. Using Kaiko’s liquidity pool data, we can observe the exact moment the hackers deposited stolen funds in the 3pool, which caused the pool to become temporarily imbalanced with a surplus of USDC.  

Statement From The Governor Of The Bank Of England

Date 26/09/2022

The Bank is monitoring developments in financial markets very closely in light of the significant repricing of financial assets.

ACER Consults On Updating The Electricity Grid Connection Network Codes To Cover E-Mobility And Storage

Date 26/09/2022

ACER launches today a public consultation on amending the electricity grid connection network codes. The aim is to update these network codes to further support the EU power grid embracing emerging developments such as e-mobility, storage and energy communities.

BIS: The Impact Of FinTech Lending On Credit Access For U.S. Small Businesses

Date 26/09/2022

Summary

Focus 

Financial technology (fintech) has allowed for new market entrants in many areas of financial services, including small business lending. New fintech lenders often use alternative data sources and machine learning to assess the credit quality of small firms, thus complementing the traditional credit scores and soft information used by traditional banks. In the United States, the growth of fintech lenders has been part of a broader trend in the growth of non-bank lenders amid a pullback by traditional banks. A key question is whether such lenders have enhanced credit access to small businesses which are likely to be underserved by traditional lenders. 

Nasdaq Announces 2022 Investor Day

Date 26/09/2022

Nasdaq, Inc. (Nasdaq: NDAQ) will host its 2022 Investor Day on Tuesday, November 8, 2022. The event will feature presentations on the company’s operations and strategy, as well as question and answer sessions, with members of Nasdaq’s senior leadership team including Adena Friedman, President and CEO, and Ann Dennison, Executive Vice President and CFO.

Apex Group Supports Clients’ EU Taxonomy Alignment

Date 26/09/2022

Apex Group Ltd. (“Apex Group” or “The Group”), a global financial services provider, today announces the further growth of its ESG offering with the launch of an EU Taxonomy Solution to ensure clients’ alignment ahead of growing disclosure requirements.