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BIS: Big Techs In Finance

Date 16/10/2023

Large technology companies, or big techs, are increasingly venturing into finance and transforming financial markets. Their activities in the financial sector have attained macroeconomic significance in several countries. Big techs owe their success to business models that generate a large stock of user data, which are then used to provide financial services. This paper focuses on the implications of the expanding footprint of big techs in finance.

SEC Division Of Examinations Announces 2024 Priorities

Date 16/10/2023

The Securities and Exchange Commission’s Division of Examinations today released its 2024 examination priorities to inform investors and registrants of the key risks, examination topics, and priorities that the Division plans to focus on in the upcoming year. This year’s examinations will prioritize areas that pose emerging risks to investors or the markets in addition to core and perennial risk areas.

SIFMA Conducts Successful 2023 Industry-Wide Business Continuity Test

Date 16/10/2023

SIFMA today issued the following statement from Charles DeSimone, SIFMA managing director, technology and operations, on SIFMA’s October 14, 2023 industry-wide business continuity test:

Sentiment Steadily Improving, With Another Week Of Inflows - CoinShares: Fund Flows

Date 16/10/2023

• Digital asset investment products saw inflows for the 3rd consecutive week totalling US$15m, although trading volumes remain 27% below the 2023 average.
• Bitcoin saw US$16m inflows last week, bringing the year-to-date inflows to US$260m, while short-bitcoin saw inflows of US$1.7m last week too.
• Last week was not positive for altcoins in general, with Tezos, Litecoin and Chainlink seeing outflows totalling US$0.25m, US$0.28m and US$0.31m respectively.

ICE Introduces Suite of Broad European Equity Indices - Marks Initial Phase Of The NYSE Global Equity Market Indices Roll-Out - New Indices Available For Benchmarking And Customization

Date 16/10/2023

Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the launch of approximately 600 equity indices covering the qualifying, listed security universe across 16 selected European countries, including the U.K.

US VC Investment Down By 45.6% YoY To $89.3 Billion During Q1-Q3 2023, Finds GlobalData

Date 16/10/2023

The US startup ecosystem witnessed a considerable decline in venture capital (VC) funding activity during the first three quarters (Q1-Q3) of 2023. A total of 5,448 VC funding deals with disclosed value worth of $89.3 billion were announced in the US during the period. This represents a year-on-year (YoY) decline of 40.3% in terms of VC funding deals volume while the corresponding disclosed investment value witnessed a fall of 45.6%, according to GlobalData, a leading data and analytics company.

ICE U.S. Residential Mortgage Rate Lock Index Futures Reach Trading Records

Date 16/10/2023

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, and home of ICE Mortgage Technology®, today announced that ICE’s U.S. Residential Mortgage Rate Lock Index Futures reached record trading activity during September and the third quarter of 2023.

Capital.Com Announces Planned CEO Succession - Group CEO Successfully Completes The First Phase Of The Company's Transformation - Implements Long-Term Succession Plan

Date 16/10/2023

Capital.com, the high-growth global trading platform, announced today the planned succession of the Group CEO as part of its ongoing growth plans. The Board of Directors has appointed the Group’s current Chief Commercial Officer, Kypros Zoumidou, as the new Group CEO effective 16 October 2023. The outgoing CEO, Peter Hetherington, will stay on as an advisor until 2026 to ensure a smooth transition and to provide strategic guidance to the company. 

Remarks By US Secretary Of The Treasury Janet L. Yellen Ahead Of Bilateral Meeting With European Commissioner Of Economy Paolo Gentiloni

Date 16/10/2023

I’d like to thank Commissioner Gentiloni for meeting with me today to discuss our mutual global priorities, as well as recent U.S. and European Commission initiatives.

UK Government: Central Counterparty Resolution Liaison Panel

Date 16/10/2023

The Treasury established the CCP Resolution Liaison Panel (RLP) in accordance with paragraph 10 of Schedule 11 to the Financial Services & Markets (FSM) Act 2023. The panel’s function is to provide advice to the Treasury about the effect of the CCP resolution regime on CCPs, persons who do business with CCPs, and on financial markets. The panel’s function includes giving advice to the Treasury on secondary legislation made under the act and the CCP resolution regime code of practice. The panel’s advice represents the views of non-government stakeholders and the Treasury facilitates its work.