News Centre

SIFMA Statement On The SEC’s Adoption Of Market Data Infrastructure Rules Under Regulation NMS

Date 09/12/2020

SIFMA today issued the following statement from SIFMA president and CEO Kenneth E. Bentsen, Jr. on the SEC’s adoption of market data infrastructure rules under Regulation NMS:

“SIFMA strongly supports the SEC’s unanimous approval of its infrastructure proposal, as it is a positive step to provide investors with critical additional market data and to address current conflicts of interests for exchanges between the SIP data and exchange proprietary feeds.  We appreciate that the final Infrastructure rule will include additional content including depth of book, auction information for open/close auctions and odd lots, as well as the SEC’s move away from the centralized approach to the distribution of SIP data to a competitive, decentralized model with competing consolidators.  We further appreciate that it appears the final rule will not change the application of the order protection rule (OPR) and will provide for the protection of the new smaller round lot sizes under the OPR.  We have long advocated for the modernization of market data and welcome today’s announcement.”

TEXPERS: Texas Public Employee Pension Funds Hold Ground in Unprecedented Covid-19 Markets

Date 09/12/2020

Texas state and local pension funds combined in 2019-20 to nearly maintain the record-breaking achievements of 2018-19, according to a trend analysis of aggregate amortization periods performed by the Texas Association of Public Employee Retirement Systems. The systems' achievement was notable in holding mostly steady despite extreme market fluctuations early in 2020 due to the COVID-19 pandemic.

Cboe Global Markets Announces Planned Retirement Of Chief Marketing And Communications Officer, Appoints Successor

Date 09/12/2020

• Carol Kennedy, Chief Marketing and Communications Officer, to retire after 27 years with company
• Stacie Fleming, Vice President, Marketing and Communications, to succeed Kennedy

Statement On Market Data Infrastructure, SEC Commissioner Caroline A. Crenshaw, Dec. 9, 2020

Date 09/12/2020

For many decades, America’s stock exchanges were centralized, physical floors where traders gathered to buy and sell securities. Based on the model established by the New York Stock Exchange – which famously was formed by the mutual agreement of 24 traders in 1792 – they operated as member-owned, not-for-profit entities. That was true when the exchanges were first granted status as self-regulatory organizations in 1934, and remained so when Congress amended the Exchange Act in 1975 to establish the National Market System.

Judopay Launches JudoAccept To Support SMEs Through COVID-19 Recovery - As We Return To The High Street, JudoAccept Is The First Technology To Enable Safe, Socially Distanced Payments Completely Through Mobile Devices

Date 09/12/2020

Judopay, a leading mobile-centric payments provider, today announces the launch of JudoAccept, a new integrated payments offering that will help small to medium-sized enterprises (SMEs) cope with the fallout and ongoing impact of COVID-19.

Statement At Open Commission Meeting To Adopt Market Data Infrastructure Rules Under Regulation NMS, SEC Commissioner Elad L. Roisman, Dec. 9, 2020

Date 09/12/2020

In 1975, following years of studies, advisory committees, and deliberate Commission actions, Congress amended the Exchange Act to add Section 11A, which directed the Commission to facilitate the establishment of a national market system. In doing so, Congress charged the Commission to develop a regulatory framework that leveraged new data processing and communications technologies for the purpose of achieving markets that were fair, orderly, efficient, transparent, and competitive.

Bowing Out Gracefully: LIBOR’s Retirement Draws Near - Speech By Andrew Hauser, Bank Of England Executive Director For Markets. - Given At The Risk.Net LIBOR Telethon On 8 December 2020

Date 09/12/2020

Overview

LIBOR is an interest rate benchmark used in financial markets, which is being phased out. Andrew Hauser sets out what businesses and lenders need to do to be ready for transition.

SEC Adopts Rules To Modernize Key Market Infrastructure Responsible For Collecting, Consolidating, And Disseminating Equity Market Data - Fosters A Competitive Environment For Core Components Of The National Market System For The First Time

Date 09/12/2020

The Securities and Exchange Commission today adopted rules to modernize the infrastructure for the collection, consolidation, and dissemination of market data for exchange-listed national market system stocks (“NMS market data”).  This infrastructure has not been significantly updated since its initial implementation in the late 1970s.  The adopted rules update and significantly expand the content of NMS market data to better meet the diverse needs of investors in today’s equity markets.  The adopted rules also update the method by which NMS market data is consolidated and disseminated, by fostering a competitive environment and providing for a new decentralized model that promises reduced latency and other new efficiencies. 

Risk Parameters On Yhe Moscow Exchange During New Year/Christmas Holidays

Date 09/12/2020

Market Data Infrastructure: Open Meeting Statement, SEC Commissioner Hester M. Peirce, Dec. 9, 2020

Date 09/12/2020

Thank you, Mr. Chairman, and thank you Brett [Redfearn], Kelly [Riley], Ted [Uliassi], and S.P. [Kothari] for your presentations. Thank you especially to the staff in the Divisions of Trading and Markets and Economic and Risk Analysis and the Office of General Counsel for all of your work on this rulemaking. Wrestling with a 900-page document on market data is not for the faint-hearted, and all of you have shown yourself to be formidable wrestlers.