News Centre

UBS MTF Market Notice: Double Volume Cap Update

Date 11/08/2020

Following the ESMA update published on 7 August, UBS MTF would like to inform you of upcoming double volume cap suspension changes this week:

• Effective from the start of trading on 13 August, the DVC suspension ends for 26 instruments on UBS MTF and therefore these instruments will again be available for trading under the Reference Price Waiver.
• Effective from the start of trading on 12 August, a six-month DVC suspension commences for 14 instruments on UBS MTF, which means that they will not be available under the Reference Price Waiver during this period. These capped instruments remain available for trading under the Large in Scale Waiver as well as on our Periodic Auction Order Book, and an additional six-month DVC re-suspension, for six instruments, will also take effect at the same time.

BIS: Government Banks, Household Debt, And Economic Downturns: The Case Of Brazil

Date 11/08/2020

Focus

Higher debt increases during credit booms tend to be followed by relatively sharper crisis episodes. The literature established this empirical regularity at the country or region level. Using contract level information from the Brazilian Credit Registry matched with information on labor income from the Ministry of Labor, this paper explores the individual borrower level underpinnings of this phenomenon.

Dynata Acquires Sharpr To Extend Insights Platform - Acquisition Expands Data And Insights Platform Capabilities, Enabling Access, Sharing And Publishing Of Research Across The Organization

Date 11/08/2020

Dynata, the world’s largest first-party data and insights platform, today announced the acquisition of Sharpr, a leading knowledge management, content syndication and publishing platform. With the acquisition, Dynata will integrate Sharpr’s capabilities – recently recognized by Forrester as a leader in Market and Competitive Intelligence Platforms – into its Dynata Insights Platform, delivering a single connected solution to manage every step along the entire research and marketing continuum. 

BIS: Demographic Origins Of The Decline In Labor's Share

Date 11/08/2020

Summary

Focus

We study the aging demographics of the workforce in the United States. Since 1980, the average age of the workforce has increased and the share of total earnings of older workers has risen significantly. Concurrent with these demographic changes, the share of income paid to workers (labor's share) has declined. We hypothesis that as a worker ages their labor market dynamism declines and the employer has greater labor market power in determining a worker's wage. Further, the greater market power of an employer leads to a gap between a worker's earnings and their productivity which increases as a worker ages. Therefore, as the workforce ages the average gap between earnings and productivity of workers widens which results in a lower share of total income accruing to workers.

Sebastian Gomez Abero Named Deputy Director Of SEC's Small Business Advocacy Office

Date 11/08/2020

The Securities and Exchange Commission today announced that Sebastian Gomez Abero has been named Deputy Director of the SEC's Office of the Advocate for Small Business Capital Formation (OASB). In his new role, he will oversee strategic initiatives and help lead the team in the SEC's newest office, which is focused on advocating for solutions to challenges faced by small businesses and their investors in raising capital, from startups to small cap public companies. In addition, the office proactively works to identify and address unique challenges faced by minority-owned, women-owned, rural, and natural disaster area-affected small businesses as well as their investors.

BIS: The Impact Of Credit Risk Mispricing On Mortgage Lending During The Subprime Boom

Date 11/08/2020

Focus

Our paper examines the impact of beliefs and pricing mistakes during the boom in subprime lending of the early 2000's. We collect original data on private and FHA mortgage insurance premiums from 19992016. This details the evolution of offerings in their scope as well as in their price. To characterize the overall pricing of mortgage insurance, as borrowers substitute among loan types, we construct chainweighted price indexes of insurance products in four risk categories. These indexes reveal broad changes in the pricing of default risk over time, but cannot distinguish between changes in the underlying credit risk from changes in the accuracy of risk pricing.

Nasdaq Stockholm Orders Northbaze Group AB To Pay A Fine Corresponding To Six Annual Fees

Date 11/08/2020

The Disciplinary Committee of Nasdaq Stockholm has found that Northbaze Group AB (“Northbaze” or the “Company”) has breached the Nasdaq First North Growth Market Rulebook (the “Rulebook”) and has therefore ordered the Company to pay a fine of six annual fees, corresponding to an amount of SEK 600 000.      

IOSCO Examines The Evolution Of Liquidity Provision In Equity Securities Markets

Date 11/08/2020

The Board of the International Organization of Securities Commissions (IOSCO) today published a report that explores how liquidity provision has evolved in equity securities markets in recent years.

Hong Kong Securities And Futures Commission: Statement On Next Digital Limited

Date 11/08/2020

The Securities and Futures Commission (SFC) is issuing this statement in response to a large volume of enquiries it has received and the overall level of public interest in relation to the significant recent increases in the price and turnover in the shares of Next Digital Limited.

Bank And FinTech Execs Report Strengthening Customer And Employee Relationships Due To The Covid-19 Crisis - Survey Finds Most Predict Big Changes To The Industry/Work From Home Is Here To Stay

Date 11/08/2020