News Centre

Bank Of England Executive Director And Financial Policy Committee Appointment

Date 06/11/2023

The Court of the Bank of England today appointed Nathanaël Benjamin as Executive Director for Financial Stability Strategy and Risk (FSSR). Nathanaël (Nat) will also become a member of the Financial Policy Committee (FPC).

Remarks To SEC Regulation Outside the United States: Fifth Annual Scott Friestad Memorial Lecture, Commissioner Mark T. Uyeda, London, United Kingdom, Nov. 6, 2023

Date 06/11/2023

Good morning and thank you, Jim [Burns], for that introduction. I am pleased to be part of the 2023 conference on SEC Regulation Outside the United States to deliver the Fifth Annual Scott Friestad Memorial Lecture.

ICE Mortgage Monitor: Affordability And Demand Continue To Suffer As Rates Hit 23-Year High - Lendable Equity Nearing Record Levels, Yet Borrower Retention Worst In 17 Years

Date 06/11/2023

• Rising rates and home prices have pushed the principal and interest (P&I) payment needed to purchase the median-priced home up $144 per month over the past 30 days to more than $2,500 for the first time
• It now takes 40.6% of the median household income to cover monthly P&I – after averaging less than 25% over the past 35 years – making for the least affordable housing market since 1984
• As a result, purchase-mortgage applications fell to 47% below pre-pandemic levels the week of Oct. 26 – the weakest they’ve been since rates began to rise
• Further, annual home price growth continued to accelerate to +4.3% in September, though the monthly gain (+0.39%) was the weakest since January and a marked downshift from August’s revised +0.61%
• However, with rates above 7.5%, affordability is at a 39-year low and purchase applications are waning; given these conditions it’s fair to expect prices to weaken later in 2023
• Rising prices have brought mortgage-holder equity to within 2% of last year’s record highs in Q3 at $16.4T, $10.6T of which is available for homeowners to borrow against while keeping a 20% equity stake in the home
• The bulk of refinance activity is equity driven, but retention of consumers post-refi is at its lowest in 17 years, due to an inability to identify and effectively market to those most likely to transact in this market

Xenia Hotellerie Solution Lists On Euronext Growth Milan

Date 06/11/2023

• 28th listing of 2023 on Euronext Growth Milan

• 54th listing on Euronext in 2023

• Total placement volume of the offering equal to €2.3 million

ACER’s Latest REMIT Quarterly Is Out

Date 06/11/2023

The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) provides an EU framework for ensuring the transparency and integrity of energy markets and deters market participants from manipulating the market. It has also an important role in protecting the interests of companies and consumers and ensuring trust in energy markets.

UK Financial Conduct Authority And Bank Of England Publish Proposals For Regulating Stablecoins

Date 06/11/2023

The Financial Conduct Authority (FCA) and the Bank of England (the Bank) are today requesting feedback on their proposed approach to regulating stablecoins. The Bank’s proposals cover any payment systems in the future that use stablecoins in the UK at systemic scale.

EEX Introduces Additional Maturities For Natural Gas Derivatives Trading

Date 06/11/2023

The European Energy Exchange (EEX) announces the extension of tradable maturities for natural gas derivatives, to be available from 11 December 2023.

FIA Tech Joins Trade Association ISITC

Date 06/11/2023

FIA Tech, a leading futures industry technology provider, today announced that it has joined trade association ISITC. ISITC brings together asset servicers, broker dealers, asset managers and solution providers to develop and promote standards and best practices that increase operational efficiencies across the securities industry, enabling member companies to provide essential and enhanced products and services.

Terazo And Tokeny Join Forces For India’s First Regulated Tokenization Project

Date 06/11/2023

Terazo, a groundbreaking private market investment platform in India, has joined forces with Tokeny, the leading tokenization platform, to spearhead the first regulated tokenized real estate asset in India under the regulatory sandbox framework established by the International Financial Services Centres Authority (IFSCA). IFSCA is a dynamic and forward-thinking regulator committed to driving India’s fintech innovation and propelling the nation to the forefront of the global financial services landscape 

HKEX Monthly Market Highlights

Date 06/11/2023

Highlights

- Securities Market

• Market capitalisation was $30.8 trillion at the end of October 2023, and an increase of 17 per cent from $26.4 trillion for the same period last year.
• The average daily turnover in October and for the first ten months of 2023 was $78.8 billion and $106.6 billion respectively.
• The average daily turnover of ETFs for the first ten months of 2023 was $11.6 billion, an increase of 25 per cent when compared with $9.3 billion for the same period last year.
• The average daily turnover of L&I Products for the first ten months of 2023 was $2.2 billion, an increase of 10 per cent when compared with $2.0 billion for the same period last year.