News Centre

BIS: Upside Down: When AT1 Instruments Absorb Losses Before Equity

Date 12/09/2023

• As demonstrated by the recent Credit Suisse episode, outside resolution, some Additional Tier 1 (AT1) bonds may be written down entirely before the wipe-out of Common Equity Tier 1 (CET1). This situation implies a transfer of value from holders of such AT1 bonds to shareholders.

SEC Charges National Office Partner At Marcum For Causing Widespread Quality Control Deficiencies

Date 12/09/2023

The Securities and Exchange Commission today charged Alfonse Gregory Giugliano, CPA, the former National Assurance Services Leader at Marcum LLP, a public accounting firm, with failing to sufficiently address and remediate numerous deficiencies in Marcum’s quality control system. The SEC previously charged Marcum for these quality control deficiencies and other violations, many of which were in connection with Marcum’s audit work for hundreds of special purpose acquisition companies (SPACs).

Korea Investment Management Launches Series Of ETFs Tracking Solactive US Big Tech Top 7 Plus Index, With Leveraged And Inverse Versions

Date 12/09/2023

The technology sector is often associated with innovation and rapid growth. It consistently introduces disruptive products and services, promising substantial potential for growth and value creation for investors. In line with this vision, Korea Investment Management has expanded its engagement with Solactive to launch a series of three ETFs tracking the Solactive US Big Tech Top 7 Plus Index.

Fiserv To Present At Autonomous Research Annual Future Of Commerce Symposium

Date 12/09/2023

Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, announced that Bob Hau, Chief Financial Officer, will present at the Autonomous Research Annual Future of Commerce Symposium on September 15, 2023 at 8 a.m. ET.

CME Group And DTCC Receive Regulatory Approval For Enhanced Treasury Cross-Margining Arrangement Launching January 2024

Date 12/09/2023

CME Group, the world's leading derivatives marketplace, and The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced their enhanced cross-margining arrangement has received Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) approvals. The arrangement will enable capital efficiencies for clearing members that trade and clear both U.S. Treasury securities and CME Group Interest Rate futures and is expected to launch in January 2024.

Toronto Stock Exchange Announces The 2023 TSX30®, Celebrating Excellence In Growth

Date 12/09/2023

Toronto Stock Exchange (TSX) today released its 2023 TSX30®, an annual ranking of the 30 top-performing stocks over a three-year period, showcasing particularly strong representation from the natural resources sector for the second consecutive year. Highlights from this year include: the resilient oil and gas sector making up over 50% of the list; significant Canadian presence, with 27 companies headquartered in Canada; and the continued success of graduates from TSX Venture Exchange (TSXV) to TSX, with 12 companies on the list.

ISDA-Clarus RFR Adoption Indicator: August 2023

Date 12/09/2023

The ISDA-Clarus RFR Adoption Indicator increased to an all-time high of 66.1% in August 2023 compared to 60.6% in July 2023. The indicator tracks how much global trading activity (as measured by DV01) is conducted in cleared over-the-counter and exchange-traded interest rate derivatives (IRD) that reference risk-free rates (RFRs) in eight major currencies. On a traded notional basis, the percentage of RFR-linked IRD grew to 62.1% of total IRD transacted in August 2023 compared to 57.9% the prior month.

26 Trade Associations Send Letter To SEC Chair Gensler On Negative Impacts Of The Safeguarding Proposal On Investors, Market Participants, And The Financial Markets

Date 12/09/2023

SIFMA and SIFMA Asset Management Group (SIFMA AMG) today joined with a diverse set of trade associations –  26 in total – in sending a letter to U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler urging the SEC not to adopt the Safeguarding Advisory Client proposed rule in its current form.

EuroCTP, The Company Set Up By European Exchanges For The Provision Of A Consolidated Tape In The European Union, Has Been Incorporated And Elected A Chair Of The Supervisory Board

Date 12/09/2023

On 23 August 2023, EuroCTP B.V. has been established as a company. It aims to tender as the European Union consolidated tape provider for equities. EuroCTP will have its own Board of Directors and all participating exchanges are represented in the supervisory board of the new company.

Eventus Rolls Out Next-Generation User Interface With New And Enhanced Tools For Streamlined, Efficient User Experience - New Validus Platform UI Includes State-Of-The-Art Data Visualization Tools

Date 12/09/2023

Eventus<http://www.eventus.com>, a leading global provider of state-of-the-art, at-scale trade surveillance software across all lines of defense, today announced the introduction of the next-generation user interface (UI) for its Validus platform to provide a more streamlined, efficient user experience with comprehensive new case-building features and greater transparency. The new UI, which offers centralized compliance management across all asset classes, includes an enhanced dashboard layer and easy-to-use investigation tools for even faster surveillance insights, along with state-of-the-art data visualization tools.