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CFTC Market Risk Advisory Committee, March 8, 2023, Scott O’Malia, ISDA Chief Executive, Counterparty Risk & Liquidity Risk

Date 09/03/2023

Good morning and thank you for inviting me to address this meeting of the Market Risk Advisory Committee (MRAC). I’m pleased to introduce the next section of our agenda, focusing on climate risk, market structure and benchmark reform.

The Scramble For Silvergate Alternatives - Kaiko Research: Deep Dive

Date 09/03/2023

Welcome to Deep Dive! Last night, Silvergate decided to voluntarily liquidate, leaving the crypto industry scrambling for banking alternatives. Today, we explore the implications of Silvergate's collapse on cryptocurrency markets and the viability of alternative fiat on-ramps for institutions and exchanges. 

Two Sides Of The Same Coin – Delivering Monetary And Financial Stability Timelessly – Speech By Sarah Breeden, Bank Of England, Executive Director, Financial Stability Strategy And Risk, Given At The University Of Leeds

Date 09/03/2023

Sarah Breeden talks about links between monetary and financial stability. She argues that though complementary - two sides of the same coin - their interaction can be complex. Having two separate committees, the Monetary Policy Committee and Financial Policy Committee, has worked well through multiple tests to date, helped by: shared analysis; building resilience in advance of potential stress; and targeted differentiated operations where needed.

Speech By The UK Economic Secretary Andrew Griffith MP, At A FIX Trading Conference

Date 09/03/2023

Introduction

Good morning everyone and thank you for the invitation to speak to you today.

Supporting Innovation With Guardrails: The Federal Reserve’s Approach To Supervision And Regulation Of Banks’ Crypto-Related Activities, Federal Reserve Vice Chair For Supervision Michael S. Barr At The Peterson Institute For International Economics, Washington, D.C.

Date 09/03/2023

I'm here today to discuss what we have learned from the recent turmoil in the crypto sector and what role supervision and regulation should play in helping banks manage their engagement with the sector and the innovative technologies that support it. Despite recent events, we have not lost sight of the potential transformative effect that these technologies could have on our financial system. And we need to be careful lest regulation lock in the power of incumbents or stifle innovation. But the benefits of innovation can only be realized if appropriate guardrails are in place. I am going to talk about how we are working to provide clarity to the banks we supervise about what we have learned and about our supervisory expectations. I will wrap up by sharing some thoughts on stablecoins.

Joint Statement From The REPO Task Force

Date 09/03/2023

Today, after a virtual meeting, the Deputies of the multilateral Russian Elites, Proxies, and Oligarchs (REPO) Task Force released the following statement on the group’s continued work.

CME Group Announces Initial Trading Of New Crop Weekly Options

Date 09/03/2023

CME Group, the world's leading derivatives marketplace, today announced that open interest in New Crop Weekly Options has surpassed 500 contracts, while a total of 984 contracts across 28 unique account numbers have traded since launching on January 23. New Crop Weekly Options build on the success of Short-Dated New Crop Options, which launched a decade ago and achieved record average daily volume (ADV) of 11,000 contracts in 2022.  

ICE To Host Carbon Credit Auctions For UpEnergy

Date 09/03/2023

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced that it plans to auction carbon credits based on UpEnergy’s Improved Cookstove Programme in Uganda.

Euronext Announces March 2023 Quarterly Review Results Of The CAC 40 ESG®

Date 09/03/2023

Euronext today announced the results of the quarterly review for the CAC 40 ESG® index, which will take place after markets close on Friday 17 March 2023.

‘Digital Currencies Will Play A Crucial Role In The Financial Landscape’, Reports The Payments Association

Date 09/03/2023

• Digital Assets Demystified’ report outlines seven aspects that will help steer the debate in the UK’s future for digital currencies.
• The report highlights a clear need for new regulation in the sector
• As the global financial landscape continues to evolve, report finds that cryptocurrencies offer a decentralised alternative to traditional financial systems
• By leveraging the power of blockchain technology, digital assets offer a secure and decentralised way to invest in a range of different assets