News Centre

Statement Of CFTC Commissioner Caroline D. Pham On DCM And SEF Conflicts Of Interest Proposal

Date 20/02/2024

I am voting to publish the Notice of Proposed Rulemaking on Requirements for Designated Contract Markets (DCMs) and Swap Execution Facilities (SEFs) Regarding Governance and the Mitigation of Conflicts of Interest Impacting Market Regulation Functions (DCM and SEF Conflicts of Interest Proposal or NPRM) because the public must have an opportunity to weigh in on these important issues that raise serious concerns. I would like to thank Lillian Cardona, Jennifer Tveiten-Rifman, Marilee Dahlman, Swati Shah, and Rachel Berdansky in the Division of Market Oversight for their time and efforts, and I take this opportunity to recognize the importance of their rule enforcement reviews program for DCMs and SEFs. I appreciate the staff working with me to make revisions to address my concerns. Unfortunately, while the NPRM has been improved, it is far from perfect.

JonesTrading Rapidly Deploys FlexOMS To Power Its Sell-Side Trading Desks - The Solution Is Live, In Record Time, For JonesTrading’s Equities, Electronic Trading And Outsourced Trading Business Units

Date 20/02/2024

FlexTrade Systems (@FlexTrade), a global leader in multi-asset execution and order management systems, and JonesTrading, a leading global equity brokerage & capital markets firm today announced the successful deployment of FlexOMS as the new sell-side trading platform for its equities and electronic trading businesses. The solution will also be the full-service technology platform for JonesTrading’s growing outsourced trading offering.  

Consumer Duty: The Art Of The Possible In A Year - Speech By Sheldon Mills, UK Financial Conduct Authority, Executive Director, Consumers And Competition, Delivered At KPMG

Date 20/02/2024

Highlights

• Firms have made solid progress in many areas of the Consumer Duty and the clock is now ticking for closed products and services to comply. 
• We are ready to work with industry on meeting the closed product deadline and urge firms to prioritise areas where there is the greatest risk of consumer harm. 
• Today we are also publishing our small firms survey and our good and bad practice guide to help firms on their Consumer Duty journey. 

The EBA Consults On Amendments To The Operational Risk Pillar 3 And Supervisory Reporting Requirements To Implement The Basel III Reforms In The EU

Date 20/02/2024

• The EBA is seeking to implement the changes driven by the revised operational risk framework.
• The new data will allow supervisors and users of reporting and disclosure data to monitor institutions’ compliance with the Basel III framework for operational risk and will further foster consistent and enhanced supervision and market discipline.
• The alignment of the disclosure requirements with the Basel III framework and its integration with reporting will promote comparability and consistency of the information.

FTSE UK Index Series – Indicative Quarterly Review Changes March 2024

Date 20/02/2024

FTSE Russell, the global index provider, advises of the following indicative changes to the FTSE 100 and FTSE 250, based on data as of Friday 16th February 2024.

CME Group Launches Clearing Service For Mexican F-TIIE Overnight Index Swaps

Date 20/02/2024

CME Group, the world's leading derivatives marketplace, today announced that nine market participants have cleared over-the-counter (OTC) Mexican Overnight Funding Rate (F-TIIE) index swaps since the company launched its clearing service on February 5. The cleared F-TIIE overnight index swaps (OIS) represent more than 4.3 billion pesos (the equivalent of $250 million) in notional value and support   Banco de México's transition from its benchmark Interbank Equilibrium Interest Rate (TIIE) to the F-TIIE rate.

The EBA Consults On The New Framework For The Business Indicator For Operational Risk As Part Of The Implementation Of The EU Banking Package

Date 20/02/2024

The European Banking Authority (EBA) today launched a consultation on two set of draft Regulatory Technical Standards (RTS) and one Implementing Technical Standard aiming to clarify the composition of the new business indicator at the heart of the operational risk capital requirements calculation, mapping the business indicator items to financial reporting (FINREP) items and highlighting possible adjustments to the business indicator in case of specific operations. The consultation runs until 21 May 2024.

ISDA And AFME Respond To FCA On Commodity Derivatives

Date 20/02/2024

On February 15, ISDA and the Association for Financial Markets in Europe (AFME) submitted a joint response to the UK Financial Conduct Authority’s (FCA) consultation on the reform of the UK commodity derivatives regulatory framework. The consultation sought to remove unnecessary burdens on firms and strengthen the supervision of UK commodity derivatives markets.

Genesis Bank And Fiserv Partner To Strengthen Small Businesses In Local Communities - Program Designed To Support Small Businesses In Low-To-Moderate Income Neighborhoods With Customized Access To Clover® Technology From Fiserv

Date 20/02/2024

Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, is partnering with Genesis Bank, one of only two diverse multiracial Minority Depository Institutions (MDIs) in the country, to drive economic empowerment and create positive impact in local communities.

Intercontinental Exchange, Inc. Commences Consent Solicitation With Respect To Black Knight InfoServ, LLC’s Outstanding 3.625% Senior Notes Due 2028

Date 20/02/2024

Intercontinental Exchange, Inc. (NYSE: ICE) (“ICE”) announced today that it is commencing a consent solicitation (the “Consent Solicitation”) with respect to the outstanding 3.625% Senior Notes due 2028 (CUSIP Nos. 092174AA9 (144A) and U0921BAA6 (Reg S)) (the “BK Notes”) issued by Black Knight InfoServ, LLC (“BK”), a wholly owned subsidiary of ICE. Pursuant to the Consent Solicitation, ICE is soliciting consents (the “Consents”) from each holder of the BK Notes to amend the BK Notes and the related indenture under which they were issued (the “BK Indenture”) to eliminate (a) the covenant to furnish certain reports, documents and information to holders of the BK Notes and the trustee under the BK Indenture (the “Reporting Covenant Proposed Amendment”) and (b) substantially all of the other restrictive covenants and all of the events of default, other than payment-related and guarantee-related events of default (the “Other Proposed Amendments” and, together with the Reporting Covenant Proposed Amendment, the “Proposed Amendments”).