News Centre

SIFMA Statement On SEC Directing Exchanges To Propose Single National Market System For Consolidated Equity Market Data

Date 06/05/2020

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the Securities and Exchange Commission’s (SEC) order directing the exchanges and FINRA to submit a new national market system plan regarding consolidated equity market data:

“SIFMA strongly supports the SEC’s directing the national securities exchanges to propose a single new national market system plan for consolidated equity market data and modernize the governance structure, which is in line with the industry’s longstanding position.  Equity markets have evolved considerably and SIFMA sees the proposal as a positive initial step which addresses current conflicts of interests for exchanges between the SIP data and exchange proprietary feeds, recognizes the importance of ensuring that the SIP is properly maintained, and allows non-SRO market participants the opportunity to be considered in the decision making process for this critical utility.  We find the timeline given for the Exchanges to submit a proposal to be reasonable.  The proposal to develop a new plan should improve market resilience and ensure the equity market continues to benefit investors and play an essential role in capital formation.”

Nadex Launches USD/MXN Binary Contracts

Date 06/05/2020

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and section §40.2(a) of the regulations promulgated by the Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) submitted to the Commission on May 6, 2020 its intent to list new USD/MXN Binary Contracts.  The Nadex USD/MXN Binary Contracts will be based on the underlying Spot USD/MXN currency market, and will be offered with Weekly, Daily, and 2-hour Intraday durations, and will initially be tradable between the hours of 8:00am ET and 3:00pm ET.

ISDA Requests Relief From SEC On Accounting

Date 06/05/2020

On May 1, ISDA wrote to the US Securities and Exchange Commission to request relief from certain US GAAP derivatives and hedging rules that otherwise may cause some cashflow hedge relationships to be discontinued because of the impact of some requirements included in the CARES ACT relief program.

Statement On Equity Market Data Governance Reforms, SEC Commissioner Hester M. Peirce, May 6, 2020

Date 06/05/2020

Thank you, Mr. Chairman, and thank you to Michael Coe for working so hard with my office on this order.  The Commission today is considering an order that, if approved, will require participants of the Market Data Plans to submit a new consolidated data plan that would streamline the current consolidated market data plans into a single plan and incorporate a more transparent and more appropriate governance structure for the plan.  This order reflects a long-ongoing conversation among a wide variety of market participants regarding the distribution of market data, the continued relevance of consolidated data feeds to the needs of those seeking to trade in our public markets, and the conflicts that may arise from the availability of faster, more comprehensive proprietary data feeds. 

US Federal Agencies Extend Two Resolution Plan Deadlines

Date 06/05/2020

In light of the challenges arising from the coronavirus response, the Federal Deposit Insurance Corporation and the Federal Reserve Board today announced two extensions to upcoming resolution plan deadlines.

SEC Charges Bloomberg Tradebook For Order Routing Misrepresentations

Date 06/05/2020

The Securities and Exchange Commission today filed settled charges against registered broker-dealer Bloomberg Tradebook LLC for making material misrepresentations and omitting material facts about how the firm handled certain customer trade orders.

CME Group Inc. Announces Preliminary Results From Its 2020 Annual Meeting Of Shareholders

Date 06/05/2020

CME Group Inc. (NASDAQ: CME) today announced the preliminary shareholder voting results from its 2020 annual meeting. 

At the meeting, shareholders:

• elected Terrence A. Duffy, Timothy S. Bitsberger, Charles P. Carey, Dennis H. Chookaszian, Bryan T. Durkin, Ana Dutra, Martin J. Gepsman, Larry G. Gerdes, Daniel R. Glickman, Daniel G. Kaye, Phyllis M. Lockett, Deborah J. Lucas, Terry L. Savage, Rahael Seifu, William R. Shepard, Howard J. Siegel and Dennis A. Suskind, each for a one-year term expiring in 2021;
• ratified the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2020; and
• approved, on an advisory basis, the compensation of named executive officers.

IMF Executive Board Approves A US$491.5 Million Disbursement To Uganda To Address The COVID-19 Pandemic

Date 06/05/2020

• The Ugandan economy is severely affected by the COVID-19 pandemic.
• To address the urgent balance-of-payments and fiscal needs, the IMF approved US$491.5 million emergency assistance for Uganda under the Rapid Credit Facility.
• The authorities have timely scaled up health spending and put in place bold measures to help contain and mitigate the spread of the disease, as well as to cushion the impact on the most vulnerable and the private sector.

CFTC Swaps Report Update

Date 06/05/2020

CFTC's Weekly Swaps Report has been updated, and is now available.

IMF Executive Board Approves A US$189.5 Million RCF Disbursement To Tajikistan To Address The COVID-19 Pandemic

Date 06/05/2020

• The IMF Executive Board approved a disbursement of US$189.5 million for budget support to help Tajikistan meet urgent balance of payments and fiscal needs stemming from the COVID-19 pandemic.
• The pandemic is having a significant human and economic impact on Tajikistan’s economy.
• To preserve macroeconomic stability, the authorities are taking steps to increase health spending, strengthen social protection for vulnerable groups, and support businesses during the shock.