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Long Live SOFR For Swaps, By Daniel Flaim, Managing Director, North America Interest Rate Derivatives, Tradeweb

Date 18/05/2023

It is officially the end of the line for LIBOR. After some 30+ years as “the world’s most important number,” and the last six years on an extended farewell tour, the London Interbank Offered Rate will officially be retired as a benchmark for U.S. dollar swaps transactions. CME Group completed its conversion to the Secured Overnight Financing Rate (SOFR) as the standard benchmark reference for over-the-counter (OTC) derivatives trades in April and LCH will complete its conversion containing U.S. dollar LIBOR vs. fixed interest rate swaps on May 20. By June, roughly $60 trillion in U.S. dollar contracts will be secured to SOFR.
Ontario Securities Commission Seeks Applications For Investor Advisory Panel

Date 18/05/2023

The Ontario Securities Commission (OSC) is inviting applications for membership on its independent Investor Advisory Panel (IAP), which provides an investor perspective on policy, rule-making and other regulatory initiatives.
Stablecoins: Does Trust Really Matter? - Kaiko Research: Deep Dive

Date 18/05/2023

The stablecoin market has been upended in 2023. The start of the year saw BUSD given an expiry date of 2024, a banking crisis in March hit USDC and DAI hard, while Binance anointed TUSD as its stablecoin of choice by choosing it for one of the few zero-fee BTC pairs in crypto. All of these events had huge ramifications for stablecoin market structure. BUSD was killed off, USDC and DAI depegged after the banking crisis, and TUSD rose to relevance. Amidst all of this, USDT became the industry’s most trusted stablecoin. This article will explore the evolution of stablecoin market structure over the years, and dig deeper into how one of the industry’s most opaque companies has been crowned the king of stablecoins.
The U.S. Economic Outlook And Considerations For Monetary Policy, Federal Reserve Governor Philip N. Jefferson, At The 2023 International Insurance Forum, National Association Of Insurance Commissioners (NAIC), Washington, D.C.

Date 18/05/2023

Good morning, everyone. Thank you for inviting me to speak. It is a pleasure to be here. I would like to use this opportunity to share with you my outlook on the U.S. economy, credit conditions, and monetary policy.
The World Federation Of Exchanges Publishes New Research On The Measurement Of Procyclicality Of CCP Margin Models

Date 18/05/2023

The World Federation of Exchanges (“The WFE”), the global industry group for CCPs and exchanges, today published new research on measuring the procyclicality of CCP initial margin models.

BrokerTec Collaborates With LCH RepoClear SA To Integrate Clearing Of Euro Denominated Securities For RFQ Trading Solution

Date 18/05/2023

BrokerTec, a leading provider of electronic trading platforms and technology services in fixed income markets, today announced an expansion to its collaboration with LCH RepoClear, to provide an efficient route for clients to clear Euro-denominated securities with LCH through BrokerTec Quote, the dealer-to-client Request for Quote (RFQ) Repo trading solution.
Comment On Yesterday’s Treasury Committee Report From Haydn Jones, Global Lead Of Blockchain And Crypto Solutions At Kroll

Date 18/05/2023

Haydn Jones Global Lead of Blockchain and Crypto solutions at Kroll, commented on yesterday’s Treasury Committee report:
Justin Brickwood Appointed Chief Product Officer, Rimes

Date 18/05/2023

Rimes is pleased to announce the appointment of Justin Brickwood as Chief Product Officer. In this new role, Justin now has global responsibility for new product development, roadmap and the go-to-market strategy for the entire Rimes data management solutions portfolio. Justin joined Rimes in 2021 having held senior technology and business management roles in major financial institutions such as Barclays and Goldman Sachs.
UK Financial Conduct Authority And UK Payment Systems Regulator Boards Appoint New Members To Decision-Making Committees

Date 18/05/2023

The FCA and PSR Boards have appointed two new Deputy Chairs - Margaret Obi and Edward Sparrow - to the FCA’s Regulatory Decisions Committee (RDC) and the PSR’s Enforcement Decisions Committee (EDC).
IDA Ireland Supports IBM Multi-Year Training Programme With Trinity College Dublin And University College Dublin

Date 18/05/2023

Minister for Enterprise, Trade and Employment Simon Coveney TD and IDA Ireland today welcomed the news that IBM is launching a further significant phase to a multi-year transformational training programme across its research and digital sales teams in Ireland, which is intended to be worth more than €10m over approximately the next five years. The programme is supported by the Government of Ireland through IDA Ireland.