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Momentum, Market Sentiment May Carry Commodity Prices Higher For A While Longer, But Not Indefinitely - IHS Markit Expects Fundamentals To Cap The Current Rally By The Fourth Quarter.

Date 22/07/2020

Since IHS Markit questioned last month whether commodities could continue moving higher, they have done just that. As measured by IHS Markit’s Material Price Index (MPI), commodity prices advanced another 5.5% between mid-June and mid-July. From the beginning of the current rally in late April, prices have risen for 11 straight weeks, recording a cumulative gain of 30.4%. Moreover, the rise in prices has been consistently broad-based with, on average, 70% of the MPI’s components increasing each week. The MPI is still down 6.1% in the year to date, but given the optimism in markets, it is conceivable that prices will erase their first quarter plunge before the end of September.

EBA: Consultation Paper On Regulatory Technical Standards (RTS) On Default Probabilities (PDs) And Losses Given Default (LGDs) Under The Internal Default Risk Model (EBA/CP/2020/12)

Date 22/07/2020

The European Banking Authority (EBA) launched a consultation on draft Regulatory Technical Standards (RTS) on default probabilities (PDs) and losses given default (LGDs) for default risk model for institutions using the new Internal Model Approach (IMA) under the Fundamental Review of the Trading Book (FRTB). These draft RTS are part of the deliverables included in the roadmap for the new market and counterparty credit risk approaches published on 27 June 2019. The consultation runs until 22 October 2020.

Building The Financial System Of The 21st Century - Speech By Luis De Guindos, Vice-President Of The ECB, At The 18th Annual Symposium On “Building The Financial System Of The 21st Century: An Agenda For Europe And The United States” Organised By The Program On International Financial Systems And Harvard Law School (By Videoconference)

Date 22/07/2020

In my remarks today, I will highlight the impact that the coronavirus (COVID-19) shock has had on the banking sector and market-based sources of finance. In both the euro area and the United States, the pandemic and the related lockdown measures have led to stark economic contractions. These contractions have been shaped by key structural differences between the two financial sectors, requiring differentiated policy responses. Irrespective of these differences, a powerful trio of monetary, prudential and fiscal policy responses on both sides of the Atlantic provided critical support that prevented the financial system from immediately seizing up, which would have had severe consequences for financial stability in the near term. Looking ahead, the pandemic shock may accelerate ongoing transformations in the financial sector landscape. Moreover, the shock is highlighting the importance of macroprudential policy in both the bank and non-bank financial sectors to safeguard a stable financial system.

Nasdaq Announces Quarterly Dividend Of $0.49 Per Share

Date 22/07/2020

The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.49 per share on the company's outstanding common stock. The dividend is payable on September 25, 2020 to shareholders of record at the close of business on September 11, 2020. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.

FSB Stocktake Considers Climate Risks And Financial Stability

Date 22/07/2020

The Financial Stability Board (FSB) today published a stocktake of financial authorities’ experience in including climate-related risks in financial stability monitoring. It draws on information provided by FSB member national authorities, international bodies and a workshop with the private sector.

ENERGISME Lists On Euronext Growth - €7.99 Million Raised – Market Capitalisation Of €28 Million

Date 22/07/2020

Euronext today congratulated ENERGISME, a French producer of energy management software, on its listing on Euronext Growth in Paris )

Nasdaq Reports Second Quarter 2020 Results, Resilient Business Adapting To Deliver Continued Growth

Date 22/07/2020

• Second quarter 2020 net revenues1 were $699 million, an increase of 12% over the second quarter of 2019. Compared to the prior year period, revenues in the non-trading segments2 increased 7%, primarily due to organic growth, while Market Services revenues rose 22%, driven by record trading volumes in U.S. equities and options.
• The GAAP operating margin was 45% in the second quarter of 2020, up from 41% in the prior year period, while the non-GAAP operating margin3 of 53% increased from 48% in the prior year period.
• Second quarter 2020 GAAP diluted earnings per share, or EPS, was $1.45, up 39% from $1.04 in the second quarter of 2019. Second quarter 2020 non-GAAP diluted EPS was $1.54, up 26% from $1.22 in the second quarter of 2019.
• After taking steps in the first quarter of 2020 to increase cash reserves and eliminate near-term debt maturities, in the second quarter Nasdaq issued a $500 million 30-year bond and repaid all commercial paper and borrowings under our revolver. As a result, the company returned to lower leverage, while improving its available liquidity. 
• Nasdaq is working to expand our impact on society by contributing to organizations providing assistance to communities disproportionately impacted by the global health, economic, and social justice crises; increasing our support to the Nasdaq Foundation; and taking actions to foster a more diverse and inclusive corporate culture.

Climbing Mountains Safely - Speech By Sarah Breeden, Bank Of England Executive Director, UK Deposit Takers Supervision: Building On Remarks Given At The PRA Annual Conference For Chairs Of The Non-Systemic UK Banks And Building Societies On 6 July 2020

Date 22/07/2020

Sarah Breeden discusses a proposed new guide for banks – a guide that is designed to help new and growing banks scale the mountain from initial authorisation to becoming an established player in the banking market. She says this will make it easier for banks to plan a safe route up the mountain, and she explores the ways in which that route can be made smoother. As firms plot their path out of the Covid stress, Sarah explains the Prudential Regulation Authority must do its best to support competition, and ensure there are safe ways down the mountain should that be needed.

ICE ETF Hub Announces Launch Of Innovative Custom Basket Negotiation Technology - Initiates Pilot Program For Issuers, Market Makers, And Authorized Participants To Road Test New Functionality

Date 22/07/2020

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that ICE ETF Hub has launched new automated functionality for exchange traded fund (ETF) primary market participants to assemble custom basket proposals. The passage of the Securities and Exchange Commission’s Rule 6c-11 last September will now expand the use of custom baskets to all ETFs in-scope of the Rule. The result of this change offers the potential for offering greater tax efficiency, better liquidity and tighter bid-ask spreads for investors.

Bank Of England: Minutes Of The Meeting Of The Court Of Directors Held On 19 May 2020

Date 22/07/2020

he Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members