News Centre

Opening Statement Of Commissioner Brian Quintenz Before The CFTC Energy And Environmental Markets Advisory Committee

Date 07/05/2020

Thank you Commissioner Berkovitz for convening today’s meeting of the Energy and Environmental Markets Advisory Committee (EEMAC) to focus on one of the most significant rulemakings pending before the Commission:  position limits for derivatives.  I am interested in hearing from the Committee members, associate members and guest presenters about how the proposal can be improved to further promote credible, well-functioning derivatives and cash commodity markets and allow end-users to successfully manage and hedge their risks.  I would like to thank all of the presenters and members for their participation and engagement today.

Euronext Announces Volumes For April 2020

Date 07/05/2020

Euronext, the leading pan-European exchange in the Eurozone, today announced trading volumes for April 2020.

Monthly and historical volumes table are available at this address:

https://www.euronext.com/en/investor-relations#monthly-volumes

Opening Statement Of CFTC Chairman Heath P. Tarbert Before The Energy And Environmental Markets Advisory Committee

Date 07/05/2020

First, there is no more opportune time to salute all of the hard work being done on a daily basis by our staff here at the Commission than during Public Service Recognition Week.  This work is vital to keep our markets operating—markets that are necessary to get our economy moving again.  Industry has also been stepping up to the plate and we thank them for their efforts as well.  Indeed, participating in fora such as this is also a public service.

April Figures At Eurex And EEX

Date 07/05/2020

While total turnover on the international derivatives exchange Eurex fell by 25% year-on-year in April, the Leipzig-based European Energy Exchange (EEX) posted strong year-on-year growth.

Statement Of CFTC Commissioner Dan M. Berkovitz On Recent Trading In The WTI Futures Contract Before The Energy And Environmental Markets Advisory Committee Meeting

Date 07/05/2020

Summary

On April 20th, the price of the West Texas Intermediate (“WTI”) crude oil futures contract for May delivery collapsed from about $18 per barrel to negative $37 per barrel, a fall of $55 per barrel in one trading session.  During this abrupt drop, the price of the May futures contract diverged from the price of crude oil in the physical market, just when the prices in the futures and physical markets should have been converging.  The CFTC must determine the causes of this unprecedented price movement and divergence from physical markets.  The Commission should work with the Chicago Mercantile Exchange (“CME”) to ensure that trading in upcoming WTI expirations is orderly, supports convergence, and reflects supply and demand in the physical market, while maintaining sufficient liquidity for commercial market participants.  If convergence issues persist, the CFTC’s Energy and Environmental Markets Advisory Committee (“EEMAC”) can play an important role in advising the Commission on how to achieve these objectives. 

Bank Of England: The Bank’s Risk Management Approach To Collateral Referencing LIBOR For Use In The Sterling Monetary Framework - Market Notice

Date 07/05/2020

This market notice (Market Notice) forms part of the Documentation for the Bank of England’s operations under the Sterling Monetary Framework (SMF) and should be read in conjunction with the main SMF Documentation, each as amended from time to time. This Documentation is available on the Bank’s website. Any capitalised term used in this Market Notice and not otherwise separately defined herein, shall bear the same meaning as set out in the glossary to the SMF Terms and Conditions. The Market Notice may be supplemented and amended from time to time.

TMX Group Equity Financing Statistics – April 2020

Date 07/05/2020

TMX Group today announced its financing activity on Toronto Stock Exchange and TSX Venture Exchange for April 2020.

EBA Welcomes EU Commission Launch Of AML/CFT Action Plan And Stands Ready To Provide Support

Date 07/05/2020

• Common rules and a single supervisor are necessary to ensure consistent outcomes across the single market 
• The proposals are a logical next step to the EBA’s new role to lead coordinate and monitor AML/CFT supervision across the EU 
• The EBA stands ready to advise on ways to strengthen the regulatory framework and establish a new European AML Authority

Moscow Exchange Trading Volumes In April 2020

Date 07/05/2020

In April 2020, total trading volume across Moscow Exchange’s markets grew by 15.9% to reach RUB 85.5 trln (RUB 73.8 trln in April 2019).

BIS: Effects Of Covid-19 On The Banking Sector: The Market's Assessment

Date 07/05/2020

Key takeaways

• Banks' performance on equity and debt markets since the Covid-19 outbreak has been on a par with that experienced after the collapse of Lehman Brothers in 2008.
• During the initial phase, the market sell-off swept over all banks, which underperformed significantly relative to other sectors. Still, markets showed some differentiation by bank nationality, and credit default swap (CDS) spreads rose the most for those banks that had entered the crisis with the highest level of credit risk.
• The subsequent stabilisation, brought about by forceful policy measures since mid-March, has favoured banks with higher profitability and healthier balance sheets. Less profitable banks saw their long-term rating outlooks revised to negative. And the CDS spreads of the riskiest banks continued increasing even through the stabilisation phase.