News Centre

Nodal Exchange Named Commodity Exchange Of The Year By Energy Risk

Date 12/05/2023

Nodal Exchange has been named 2023 Commodity Exchange of the Year by Energy Risk magazine.  The prestigious Energy Risk Awards, now in their third decade, recognize excellence in financial risk management across the commodities sector.

CFTC Commissioner Mersinger To Participate In A Fireside Chat At The BattleFin Discovery Day New York Digital Assets - Regulatory Session

Date 12/05/2023

Nigerian Exchange Weekly Market Report For May 12th, 2023

Date 12/05/2023

A total turnover of 3.602 billion shares worth N36.451 billion in 27,801 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.973 billion shares valued at N22.828 billion that exchanged hands last week in 23,765 deals.

Statement Of CFTC Commissioner Caroline D. Pham On Spoofing In Voice Brokered Swaps Markets

Date 12/05/2023

I support this enforcement action against HSBC Bank USA, N.A., and thank the Division of Enforcement for their hard work on this matter.  Fraud, manipulation, and disruptive trading practices have no place in our markets.  I commend the Division for their aggressive pursuit of wrongdoing to the fullest extent permissible by law.

NGX Eyes Increased Savings Bonds Subscriptions - To Organise Webinar

Date 12/05/2023

In line with its mandate to promote investor participation in Nigeria's capital market, enhance secondary market, Nigerian Exchange Limited (NGX) in collaboration with Afrinvest  is set to host market stakeholders to a virtual workshop on FGN Savings Bond.

EBA Publishes Draft Technical Standards On The Prudential Consolidation Of An Investment Firm Group And Completes Its Roadmap On Investment Firms

Date 12/05/2023

The European Banking Authority (EBA) today published its draft Regulatory Technical Standards (RTS) on the scope and methods of consolidation of an investment firm group under the Investment Firms Regulation (IFR). These RTS detail the scope and methods for the prudential consolidation, as well as the methodology for the consolidation of capital requirements and the rules applicable for minority interest and additional Tier 1 and Tier 2 instruments issued by subsidiaries in the context of prudential consolidation. The aim of these RTS is to ensure prudential consolidation is carried out in a harmonised and consistent way. These RTS are the last regulatory products of the EBA Roadmap on investment firms, released in June 2020.

Statement Of CFTC Commissioner Kristin N. Johnson Regarding CFTC Orders Against HSBC For Fraudulent And Manipulative Swaps Trading And Spoofing, And For Recordkeeping And Supervision Failures

Date 12/05/2023

Today, the Commodity Futures Trading Commission (CFTC or Commission) issued two orders settling charges against, respectively, (i) HSBC Bank USA, N.A. (HSBC) for fraudulent and manipulative swaps trading and spoofing; and (ii) HSBC, HSBC Securities (USA) Inc., and HSBC Bank plc (collectively, HSBC Affiliates) for failing to maintain, preserve, and produce records in compliance with CFTC recordkeeping requirements with respect to certain offline communications (often carried out through chat or social media messaging platforms).  HSBC and the HSBC Affiliates also failed to diligently supervise matters related to their CFTC-registered businesses with respect to each set of conduct.  These orders require HSBC to pay $45 million for the fraudulent and manipulative swaps trading and spoofing, and related violations, and the HSBC Affiliates to pay $30 million for the violations relating to offline communications.  HSBC and the HSBC Affiliates also must implement immediate and effective remediation measures to ensure compliance with the relevant Commodity Exchange Act (CEA) and Commission regulations, including ensuring appropriate recordkeeping and supervision.

Statement Of CFTC Commissioner Caroline D. Pham On Spoofing In Voice Brokered Swaps Markets

Date 12/05/2023

I support this enforcement action against HSBC Bank USA, N.A., and thank the Division of Enforcement for their hard work on this matter.  Fraud, manipulation, and disruptive trading practices have no place in our markets.  I commend the Division for their aggressive pursuit of wrongdoing to the fullest extent permissible by law.

Statement Of CFTC Commissioner Christy Goldsmith Regarding HSBC For Market Manipulation And Widespread Use Of WhatsApp And Other Unauthorized Communications Platforms To Evade Regulatory Oversight

Date 12/05/2023

I support the enforcement action that the CFTC brings today against HSBC Bank USA, N.A. because it protects market integrity, brings accountability for market manipulation, and builds on the CFTC’s record of holding banks accountable for their pervasive use of unauthorized communications to evade regulatory oversight.  The communications between traders in the records that were properly kept reveal HSBC’s manipulative trading practices, and serve as an example of just how critical regulatory visibility into trader communications is to protect markets and investors, and promote market integrity.

CFTC Orders HSBC Bank USA, N.A. To Pay A $45 Million Penalty For Manipulative And Deceptive Trading In Connection With Swaps Related To Bond Issuances, Spoofing, And Supervision And Mobile Device Recordkeeping Failures

Date 12/05/2023

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against HSBC Bank USA, N.A. (HSBC), a provisionally registered swap dealer. The order charges HSBC with manipulative and deceptive trading related to swaps with bond issuers, spoofing, and supervision and mobile device recordkeeping failures at various times during approximately an eight-year period.