News Centre

CalPERS Makes Structural And Leadership Changes To Private Markets Investment Programs

Date 22/11/2022

CalPERS today announced changes to the structure of two of its private markets investment programs, with management of the recently created Growth & Innovation program consolidated with that of the Private Equity asset class.

ISDA Launches Digital Regulatory Reporting 1.0 And Opens Access To Entire Market

Date 22/11/2022

ISDA has launched the full open-source version of the Digital Regulatory Reporting (DRR) model and opened access to ISDA members and non-members to support compliance with the US Commodity Futures Trading Commission’s (CFTC) amended swap data reporting rules.

BOX Network Infrastructure Maintenance

Date 22/11/2022

On Friday, November 25, 2022, BOX Options Market LLC (“BOX”) will be performing maintenance on the BOX network infrastructure between 3:00pm and 6:00pm EST.

Ontario Securities Commission Seeks Comment On 2023-2024 Priorities

Date 22/11/2022

The Ontario Securities Commission (OSC) is seeking feedback from stakeholders on its draft 2023-2024 Statement of Priorities (SoP) which will guide business planning for the fiscal year. The SoP sets out the strategic goals the OSC intends to focus its resources and actions on, as well as priority initiatives the OSC will pursue to support the strategic goals.

NYSE Member Firms Report Third Quarter Results

Date 22/11/2022

New York Stock Exchange member firms that conduct business with the public reported a third-quarter 2022 after-tax profit of approximately $5 billion and revenues of approximately $68 billion, compared with approximately $9 billion after-tax profit on revenues of about $56 billion in the third-quarter of 2021.

New York Attorney Genera James Urges Congress To Protect Workers By Prohibiting Retirement Investments In Cryptocurrencies

Date 22/11/2022

New York Attorney General Letitia James today urged congressional leaders to adopt legislation that would prohibit investing retirement funds in digital assets, such as cryptocurrencies, digital coins, and digital tokens. Individual retirement accounts (IRAs) and defined contribution retirement plans, like 401(k) plans and 457 plans for government employees, are key retirement investments for millions of hardworking Americans. Recently, a major financial institution has offered Bitcoin as an investment option in its 401(k) plans, and other financial institutions are expected to follow suit. With recent crypto market crashes and other market turbulence, Attorney General James stressed the need to protect workers’ retirement funds and avoid the dangers of risky cryptocurrencies.

EBA Publishes Guidelines On Remote Customer Onboarding

Date 22/11/2022

The European Banking Authority (EBA) today published its final Guidelines on the use of remote customer onboarding solutions. These Guidelines set out the steps credit and financial institutions should take to ensure safe and effective remote customer onboarding practices in line with applicable anti-money laundering and countering the financing of terrorism (AML/CFT) legislation and the EU’s data protection framework. The Guidelines apply to all credit and financial institutions that are within the scope of the Anti-money Laundering Directive (AMLD).

GPW Benchmark Publishes Composition Of Indices In The Treasury Bond Index Family

Date 22/11/2022

• GPW Benchmark has announced the composition of five new government bond (fixed income) indices which cover portfolios of bonds with different maturities and are part of the Treasury Bond Index Family
• Publication of the indices starts on 28 November 2022
• The input data for the provision of the new bond indices are the TBSP reference prices used in the TBSP.Index method
• The Family also includes TBSP.Index

Extraordinary ATX Change: STRABAG SE To Replace S Immo AG As Of 24 November

Date 22/11/2022

STRABAG SE will be added to the Austrian national index ATX as of 24 November 2022 and will replace S Immo AG. The decision for the exclusion was taken by the Urgent Action ATX-Committee on 11 November 2022. Considering the takeover offer made by CPI Property Group (CPI) to the shareholders of S Immo AG, it was decided to remove S Immo AG from the ATX in the event of further tendering of S Immo AG shares to CPI. Since yesterday, the results from the takeover offer are available. The "Rules for the Austrian Indices" state that in the event of a substantial drop in free float in the context of a takeover, an exchange of index members may also take place outside the usual review cycle. The next-ranked company in the "ATX watchlist" moves up into the index. With this measure, the Index Committee ensures that all companies represented in the benchmark index are readily tradable. The next scheduled review of the ATX composition will take place in March 2023.

BIS: How Abundant Are Reserves? Evidence From The Wholesale Payment System

Date 22/11/2022

Summary

Focus 

As central banks start to shrink their balance sheets while tightening policy in response to inflation, the deposit balances of commercial banks ("reserve holdings") are set to shrink as a consequence. Adequate reserve holdings underpin smoothly functioning short-term funding markets, and central banks will need to determine the scope for a smooth reduction in reserves. This paper approaches the issue of adequacy of reserve holdings by gauging how much outgoing payments depend on incoming payments. As reserve balances are the deposits held by commercial banks at the central bank, outgoing payments reduce the reserve balance of the bank making the payment. Delaying payments until incoming payments replenish reserves would conserve reserves. The sensitivity of outgoing payments to incoming payments can therefore serve as a gauge of the value placed by commercial banks on their reserves.