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  • Statement Of CFTC Chairman Rostin Behnam On The Proposed Commission Guidance Regarding The Listing Of Voluntary Carbon Credit Derivative Contracts

    Date 04/12/2023

    The CFTC as a market regulator has a significant role to play in the voluntary carbon markets (VCMs). As we have seen the listing of listed futures on voluntary carbon credits (VCCs), the Agency’s relationship and responsibility is real. These markets present an opportunity for the agricultural economy that historically underpins the need for derivatives markets for risk management and price discovery, but they also provide a useful tool throughout the financial markets and the real economy.  And today, the Agency takes the most significant step of a financial regulator to promote fundamental standards for high integrity VCCs. 

  • Statement By US Secretary Of The Treasury Janet L. Yellen On Commodity Futures Trading Commission’s (CFTC) Proposed Guidance On Voluntary Carbon Markets

    Date 04/12/2023

    U.S. Secretary of the Treasury, Janet L. Yellen released the following statement U.S. Secretary of the Treasury, Janet L. Yellen released the following statement on the Commodity Futures Trading Commission’s (CFTC) proposed guidance on voluntary carbon markets:

    “I commend the efforts of Chair Behnam and the CFTC to support high-integrity voluntary carbon markets (VCMs). The proposed guidance issued for public comment today represents an important step by the CFTC toward promoting the integrity of carbon credits and enabling greater liquidity, price discovery, and responsible product innovation for credits that underlie derivatives products listed on CFTC-registered exchanges."

  • ICE Mortgage Monitor: Equity Withdrawals Rose Slightly in Q3 2023, but High Interest Rates Are Compressing Usage by 55%

    Date 04/12/2023

    • Despite clear signs of slowing, home prices hit yet another seasonally adjusted high in October, with unadjusted annual growth rising to +4.6%, up from +4.2% in September
    • Recent home price gains have returned tappable equity to within 3% its 2022 peak, contributing to a modest increase in equity withdrawals in Q3
    • Just 0.41% of tappable equity available at the beginning of the quarter was withdrawn in Q3, some 55% below the average withdrawal rate seen from 2010-2021
    • An estimated $54B in equity withdrawals were forgone in Q3 as rising interest rates increased the cost of equity utilization, with an aggregate $250B missing over the last 18 months
    • Despite compressed volumes, cash-outs continue to fuel what is left of the refinance market accounting for 92% of Q3 activity, with borrowers withdrawing a record $104K on average
    • Purchase lending continues to dominate the market overall, driving 86% of all first lien lending in Q3, with roughly 75% of 2024 originations expected to come from purchase loans
    • Rising rates continue to put pressure on homebuyers, with debt-to-income (DTI) ratios on purchase loans hitting multiyear highs in October, according to ICE Market Trends data
    • Data also suggests tightening lending criteria, as credit scores for conventional, FHA and VA purchase loans all hit series highs, with FHA credit scores up 14 points year over year
    • While foreclosure starts rose in October, near-term risks remain muted due to a combination of historically low serious delinquency rates and strong equity positions among such loans

  • Nasdaq Recognized As Leader In LGBTQ+ Workplace Inclusion By The Human Rights Campaign Foundation - Earns Perfect Score In The Human Rights Campaign Foundation’s Annual Assessment Of LGBTQ+ Workplace Equality For Fifth Consecutive Year

    Date 04/12/2023

    Nasdaq (Nasdaq: NDAQ) today announced its inclusion in the Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index (CEI), receiving a perfect score in the fifth consecutive edition of the survey for recognition of its inclusive workplace. The CEI is the nation’s leading benchmarking survey and report measuring corporate policies and practices related to LGBTQ+ workplace equality.

  • Enterprise And ONEOK Extend Terminal Transfer Fee Waiver For ICE Midland WTI (HOU) Crude Deliveries To The End Of 2025

    Date 04/12/2023

    Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today announced that Enterprise Products Partners L.P. (NYSE: EPD) and ONEOK, Inc. (NYSE: OKE) have extended their fee waiver arrangement between the Enterprise Crude Houston (“ECHO”) and Magellan East Houston (“MEH”) terminals to transfer crude oil delivered through ICE’s Midland WTI futures contract (ICE: HOU) until December 31, 2025.