News Centre

BIS: Seeing The Forest For The Trees: Using hLDA Models To Evaluate Communication In Banco Central do Brasil

Date 14/06/2022

Summary

Focus

There is a widespread consensus that central bank communication influences the expectations of economic agents, and that increasing transparency enhances the effectiveness of monetary policy. Central bank communication has moved beyond simply informing agents on the perceived current and future state of the economy to becoming a key instrument to anchor inflation expectations. Therefore, it is essential to assess whether the central bank is efficiently communicating the intended signals to market and economic agents.

Eris Sets New Daily Record With 159,924 Contracts Traded On June 7

Date 14/06/2022

• CME Eris Swap Futures volume hit 159,924 contracts on Tuesday, June 7, surpassing the previous record of 148,205 set on March 10
• Quarterly rolls in 2y Eris Libor (LIT) were a primary driver, fueled by recent record front-month open interest from increased hedging by end users
• Volume included block trades rolling to Eris SOFR Sep from Eris Libor June contracts across multiple tenors, including 2y, 3y, 4y and 5y

Pirum Launches The Jim Malgieri Summer Internship Program

Date 14/06/2022

In honour of the highly respected and much missed Jim Malgieri, Pirum has launched the inaugural “Jim Malgieri summer internship program” in conjunction with Seton Hall University (Jim’s alma mater).

BIS: Alternative Monetary-Policy Instruments And Limited Credibility: An Exploration

Date 14/06/2022

Summary

Focus

Inflation-targeting frameworks has led the literature to focus on monetary policy rules with a short-term interest rate as the main instrument. However, this is not representative of monetary policy implementation around the world. According to IMF AREAER database, in 2019 only 21% of 192 countries use such an instrument. Also, most studies analyzing rules for interest rates assume rational expectations and a high degree of credibility. However, many low-income and emerging countries face limited credibility. This paper study on what extent the instrument choice depends on the limits to credibility.

Tel Aviv Stock Exchange Continues To Upgrade The Israeli Capital Market And Adjust It With International Standards - Presenting A Comprehensive Reform To Enhance Liquidity In The TASE Indices

Date 14/06/2022

For the first time, the liquidity criteria will materially affect the weight of the companies included in TASE's indices

luxtradegroup.de: BaFin Investigates Tristan Invest LLC

Date 14/06/2022

In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that Tristan Invest LLC has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin. The information provided on the company’s website, luxtradegroup.de, gives reasonable grounds to suspect that the company, under the name LuxTrade or Monolux Trade Group, is conducting banking business and providing financial services in Germany without the required authorisation.

Artel Electronics LLC Becomes The Largest Private Company To Place Bond On Tashkent Stock Exchange

Date 14/06/2022

On Friday, Artel Electronics LLC (Artel), Central Asia's leading electronics and home appliance manufacturer, became the largest 100% privately-owned company to successfully place a corporate bond on the Tashkent Stock Exchange (TSE). The company placed a debut three-tranche bond offering of UZS 30bln (US$2.71m), with maturities of 12-18 months, a coupon interest rate of 21 - 22.5%, and quarterly payments. The Central Bank of Uzbekistan base rate is currently 16%.

Pico Launches Its Highest Performance Network Analytics With Major Corvil Software Update

Date 14/06/2022

• Corvil Analytics 9.7 delivers critical new features to monitor, optimize and diagnose network health in complex 100Gbps trading and enterprise environments
• Follows the recent successful launch of Pico’s flagship Corvil 10000 appliance which achieves sustained 100Gbps real-time processing

CME Sees First Trades In Eris BSBY Swap Futures

Date 14/06/2022

• Launched in April, CME Eris BSBY Swap Futures now feature two-sided markets streaming in 1-3y tenors
• The Bloomberg Short-Term Bank Yield Index (BSBY) was created to address banks’ requests for a credit-sensitive rate to manage the spread between their funding costs paid and loan interest received 
• For more information, visit erisfutures.com/bsby

BaFin: Adler & Bernstein, Website Operator Of Adlerundbernstein-Ipoelite.Com: Suspected Violation Of The Prospectus Requirement

Date 14/06/2022

BaFin has sufficient grounds to suspect that the website operator of adlerundbernstein-ipoelite.com, Adler & Bernstein, which states that its registered office is in London, UK, is offering shares of Mobileye N.V. to the public in Germany without the required prospectus.