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  • The Future Of Work - Speech Given By Mark Carney, Governor Of The Bank Of England

    Date 14/09/2018

    I am grateful to Clare Macallan and Jennifer Nemeth for their assistance in preparing these remarks. I would also like to thank Will Abel, Andy Haldane, Carsten Jung, Rana Sajedi and Greg Thwaites for the background research and analysis they conducted.

  • Deutsche Börse Group: Business Indicators For August 2018

    Date 14/09/2018

    The attached Excel file 'Major business figures' contains historic business indicators for the respective reporting segments.

  • Finansinspektionen Follows Closely The Developments At Nasdaq Clearing

    Date 14/09/2018

    Finansinspektionen has an ongoing dialogue with Nasdaq Clearing given that the company decided to declare a member in the firm’s commodity market in default. Finansinspektionen is also in contact with other affected authorities and organisations.

  • Nasdaq Statement Regarding Member Default

    Date 14/09/2018

    At Nasdaq, our primary focus is the protection of our clients and the integrity of our markets. With respect to the events of this week we want to remain transparent and provide the following details.

    • On Tuesday, September 11, Nasdaq Clearing declared a member in default.
    • The defaulted portfolio contained a large spread position between Nordic and German Power that was negatively impacted by extraordinary fluctuations in the spread. When the member no longer could meet the margin requirement due to the losses in the portfolio, Nasdaq Clearing had to declare the member in default.
    • Our rules require that we then close out the portfolio as soon as possible to mitigate further risk of loss. Nasdaq data analysis concluded that the market movement was 17 times larger than the normal observed daily spread changes, which was confirmed by two external parties, and could be characterized as a true “Black Swan” event.
    • The defaulting portfolio was closed out according to Nasdaq Clearing’s close-out procedures and has been fully contained. Within 48 hours all of the positions had been closed through an auction.
    • However, the close out resulted in a loss for Nasdaq Clearing that exceeded the defaulting member’s collateral and default fund contribution. The loss meant that Nasdaq Junior Capital of EUR 7 million and a portion of the Commodity Member Default fund, amounting to EUR 107M needed to be utilized.   The utilization of the Default Fund impacted the 166 clearing member firms with capital contributions into the Default Fund on a pro-rata basis.

  • HKEX To Offer Meituan Futures And Options And Include Meituan On Key Lists

    Date 14/09/2018

    • Meituan Futures and Options to be introduced on 20 September
    • Issuers can list Meituan derivative warrants when Meituan shares debut
    • Meituan shares to be included in Designated Securities Eligible for Short Selling when they begin trading