News Centre

Dissenting Statement Of CFTC Commissioner Summer K. Mersinger Regarding Order On Certified Derivatives Contracts With Respect To Political Control Of The U.S. Senate And House Of Representatives

Date 22/09/2023

I respectfully dissent from the Order Prohibiting Listing for Trading of Certified Derivatives Contracts with Respect to Political Control of the U.S. Senate and House of Representatives (the “Order”).  I cannot support the Commission taking this trip “through the looking glass” in order to cover up the fact that for over 13 years, it has failed to follow the process that Congress specifically authorized for situations like this:  A notice-and-comment rulemaking.

Statement Of CFTC Chairman Rostin Behnam Regarding CFTC Order To Prohibit Kalshi Political Control Derivatives Contracts

Date 22/09/2023

Today’s Order prohibits listing or otherwise making available for clearing or trading certain Congressional Control Contracts on or through KalshiEx LLC (“Kalshi”) based on findings that such political event contracts involve both gaming and activity that is unlawful under State law, and are contrary to the public interest. The Commodity Exchange Act (CEA) enumerates certain categories of commodities for which derivatives may be contrary to the public interest if listed on an exchange.  These include contracts that involve gaming or activity that violates State or Federal Law.  Kalshi’s Congressional control contracts fall into both of these categories.  Betting or wagering on elections, as proposed by Kalshi, meets the definition of gaming.  And in many states, betting or wagering on elections is prohibited by statute or common law.  The analysis conducted, determinations reached, and process followed resulting in the Commission’s Order are squarely within our duty and discretion.

CFTC Disapproves KalshiEX LLC’s Congressional Control Contracts

Date 22/09/2023

The Commodity Futures Trading Commission today issued an order disapproving congressional control political event contracts self-certified by KalshiEX LLC. The contracts would have been cash-settled, binary contracts based on the question: “Will <chamber of Congress> be controlled by <party> for <term>?”  

US Treasury Department Announces Launch Of Economic And Financial Working Groups With The People’s Republic Of China

Date 22/09/2023

Today, the United States and the People’s Republic of China launched an Economic Working Group and a Financial Working Group under the direction of Secretary of the Treasury Janet Yellen and Vice Premier He Lifeng. The two Working Groups will provide ongoing structured channels for frank and substantive discussions on economic and financial policy matters, as well as an exchange of information on macroeconomic and financial developments. The formation of these Working Groups builds on the consensus reached between Secretary Yellen and Vice Premier He during the Secretary’s trip to Beijing in July, and carries out President Biden’s directive to deepen communication between the two countries following his meeting with President Xi in Bali last year.

CoinShares Launches Hedge Fund Division, Begins U.S. Expansion - The New Division Increases The Company’s Product Offerings While Blending Legacy Expertise With Progressive Transformation

Date 22/09/2023

CoinShares International Limited (“CoinShares'' or “the Company”) (Nasdaq Stockholm: CS; US OTCQX: CNSRF), the leading European alternative asset manager specialising in digital assets, today announced the launch of its hedge fund division, CoinShares Hedge Fund Solutions.

Nigerian Federal Government, NGX To Drive Startup Listings With Tech Board

Date 22/09/2023

The Federal Government through the Ministry of Communications, Innovation and Digital Economy has said it intends to collaborate with Nigerian Exchange Limited (NGX) to stimulate startup listings with the newly created NGX Technology Board.

Borsa İstanbul’s Opening Bell Rang For Hat-San Gemi İnşa Bakım Onarım Deniz Nakliyat Sanayi ve Ticaret A.Ş.

Date 22/09/2023

In his address at the Opening Bell Ceremony, Korkmaz Ergun, the CEO of Borsa İstanbul A.Ş., stated the following:

“Distinguished guests,

Today, I welcome you all to your home, to the Opening Bell Ceremony hosted by our Exchange as we celebrate the listing of Hat-San Shipyard at our Exchange.

Government Of The Emirate Of Sharjah Lists USD 750 Million Sukuk On Nasdaq Dubai

Date 22/09/2023

The Government of Sharjah has listed a USD 750 million Sukuk on Nasdaq Dubai. With the addition of this latest Sukuk, the overall value of sukuk listings in Dubai now reaches USD 81 billion, with USD 79 billion listed on Nasdaq Dubai alone.

Marex Agrees To Acquire Cowen’s Legacy Prime Brokerage And Outsourced Trading Business

Date 22/09/2023

Marex, the diversified global financial services platform, today announces that it has agreed to acquire Cowen’s legacy prime brokerage and outsourced trading business, as it continues to grow and diversify its offering and its client base. The transaction is expected to complete by the end of the year, subject to customary closing conditions, including regulatory approvals.

EBA Launches 2023 EU-Wide Transparency Exercise

Date 22/09/2023

The European Banking Authority (EBA) launched today its annual EU-wide transparency exercise, as part of its efforts to monitor risks and vulnerabilities and to reinforce market discipline. As in the past, the exercise is exclusively based on supervisory reporting data, which will keep the burden for the banks to a minimum. The EBA expects to publish the results at the beginning of December, together with the annual Risk Assessment Report (RAR).