News Centre

ISDA derivatiViews: 2021 Definitions: A Better, Safer Solution

Date 24/03/2022

One of the many knock-on effects of events in Russia is that the Moscow Prime Offered Rate (MosPrime), used by firms across the world as a reference rate for ruble-denominated interest rate derivatives, is no longer available via Refinitiv. Instead, the rate will be published by the benchmark’s administrator, Russia’s National Finance Association (NFA). As MosPrime isn’t ceasing publication, you might think this shouldn’t be an issue – and it wasn’t for those trades referenced to the 2021 ISDA Interest Rate Derivatives Definitions. For transactions using the 2006 ISDA Definitions, however, it did pose some unhelpful complexity, drumming home why all market participants should shift to the 2021 iteration.

BrokerTec Integrates Relative Value Curve Spread Trading With Broadway Technology

Date 24/03/2022

BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets, today announced that it has partnered with Broadway Technology to make its Relative Value (RV) Curve spread trading functionality available on Broadway's Toc platform.

NYSE Group Consolidated Short Interest Report

Date 24/03/2022

NYSE today reported short interest as of the close of business on the settlement date of March 15, 2022.

Nasdaq Announces Mid-Month Open Short Interest Positions In Nasdaq Stocks As Of Settlement Date March 15, 2022

Date 24/03/2022

At the end of the settlement date of March 15, 2022, short interest in 3,348 Nasdaq Global Market^SM securities totaled 10,111,145,146 shares compared with 10,020,586,922 shares in 3,326 Global Market issues reported for the prior settlement date of February 22, 2022. The mid-January short interest represents 2.55 days compared with 2.68 days for the prior reporting period.

Women’s History Month Event: SEC To Host Free Virtual Financial Fraud Webinar

Date 24/03/2022

On March 29, 2022 at 7 p.m. ET the Securities and Exchange Commission’s New York Regional Office, in coordination with Alpha Kappa Alpha Sorority Inc., Tau Omega Chapter, will celebrate women’s history month with a free investor education panel discussion about staying safe from financial fraud.

Federal Reserve: Senior Credit Officer Opinion Survey On Dealer Financing Terms

Date 24/03/2022

The Senior Credit Officer Opinion Survey on Dealer Financing Terms (SCOOS) is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter (OTC) derivatives markets. The SCOOS is modeled after the long-established Senior Loan Officer Opinion Survey on Bank Lending Practices, which provides qualitative information about changes in supply and demand for loans to households and businesses at commercial banks. The SCOOS collects qualitative information on credit terms and conditions in securities financing and OTC derivatives markets, which are important conduits for leverage in the financial system. The survey panel for the SCOOS began by including 20 dealers and over time has been expanded. These firms account for almost all of the dealer activity in dollar-denominated securities financing and OTC derivatives markets. The survey is directed to senior credit officers responsible for maintaining a consolidated perspective on the management of credit risks. The HTML links below include the full report; the PDF links include the summary only.

ESMA Executive Director Natasha Cazenave Keynote Speech At ICI Investment Management Conference 2022

Date 24/03/2022

Ladies and Gentlemen, I am very pleased to have been invited to address the ICI investment management conference and provide the European Securities and Markets Authority’s perspective, even if only remotely as I can unfortunately not be with you in person.

SEC Announces New Leadership In Examinations Division And New York Regional Office

Date 24/03/2022

The Securities and Exchange Commission today announced that Daniel S. Kahl, Acting Director of the SEC’s Division of Examinations, will depart the agency after more than 21 years of service. Richard R. Best, Director of the SEC’s New York Regional Office, will serve as Acting Director of the Division of Examinations upon Mr. Kahl's departure. Lara Shalov Mehraban will serve as Acting Director of the New York Regional Office.

BIS: Financial Openness And Inequality

Date 24/03/2022

Summary

Focus

Recent increases in inequality have prompted a lot of interest in what causes it. Existing research has identified international financial openness as one of the main potential drivers of income inequality. Nevertheless, the evidence has not been conclusive so far. This is largely due to the use of very different measures and methods across studies. Most papers have focused on legal restrictions on capital flows as a measure of openness ("de jure measures"). The few that have examined measures based on actual external financial positions ("de facto measures") have used only a subset of the key metrics.

Statement On Proposal To Remove References Of Credit Ratings from Regulation M, SEC Chair Gary Gensler, March 24, 2022

Date 24/03/2022

Today, the Commission voted to propose removing references of credit ratings from Rules 101 and 102 of Regulation M (Reg M). I was pleased to support today’s proposal because, if adopted, it would fulfill a mandate issued by Congress in the wake of the 2008 financial crisis.