News Centre

BIS: FX Intervention To Stabilize Or Manipulate The Exchange Rate? Inference From Profitability

Date 15/12/2022

Many central banks intervene in the foreign exchange rate market. Central banks generally claim that these interventions aim at stabilising the exchange rate, leaning against temporary excessive fluctuations. Yet critics argue that interventions are often geared at manipulating the exchange rate away from fundamental values, for example to gain a competitiveness advantage by keeping the exchange rate undervalued.

ViewTrade Adds Carrying Broker Services To Its Suite Of Comprehensive Brokerage And Investment Solutions

Date 15/12/2022

ViewTrade Securities, Inc., the broker-dealer subsidiary of ViewTrade Holding Corporation, today announced the launch of its carrying broker services, adding to ViewTrade Holding Corporation’s already robust B2B2C technology and services offerings utilized by a diverse global customer base of broker-dealers, fintechs and registered investment advisors (RIAs).

BIS: The 2008 Financial Crises In The Baltic Countries

Date 15/12/2022

This paper covers the banking crises in Estonia, Latvia and Lithuania around 2008, financial authorities' responses and the ensuing structural changes in the countries' banking sectors. 

US Treasury Further Constrains Russia’s Financial Services Sector - Sanctions Increase Pressure On Two Prominent Financial Institutions In Russia

Date 15/12/2022

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is adding 18 entities related to the Russian Federation’s financial services sector to the Specially Designated Nationals and Blocked Persons List (SDN List). These designations, taken along with the Department of State, which is concurrently designating a prominent oligarch in Russia, his network, and more than 40 additional persons linked to the Government of the Russian Federal (GoR), are part of the U.S. government’s efforts to further limit the GoR’s ability to fund its unconscionable war of choice against Ukraine. Today’s actions also broadly complement those of our international partners.

ESMA Provides Guidance To Applicants Under The DLT Pilot Regime

Date 15/12/2022

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published a Final Report including Guidelines on standard templates, forms and formats to apply for permission to operate a DLT market infrastructure.

ACER Analyses ENTSOG’s Gas Supply Outlook For This Winter In View Of Risks Of Total Disruption Of Russian Supply

Date 15/12/2022

The EU Agency for the Cooperation of Energy Regulators (ACER) publishes today its Opinion on the Winter Supply Outlook for 2022/2023 of the European Network of Transmission System Operators for Gas (ENTSOG).

Pico And BSO Partner To Expand Global Crypto Offerings

Date 15/12/2022

• BSO’s Crypto Connect offers global, low-latency, cloud-to-cloud connections into leading digital asset exchanges
• The expanded partnership will provide clients access to over 35 major global crypto exchanges in addition to more than 300 global venues currently available on PicoNet
• The addition of Crypto Connect to the PicoNet ecosystem will give clients an easy onramp into crypto as they evaluate strategic expansion in the digital asset space 

HKEX: Adjustment Of Haidilao Structured Products, Futures And Options

Date 15/12/2022

Hong Kong Exchanges and Clearing Limited (HKEX) has announced the arrangements for the adjustment to Haidilao International Holding Ltd (Haidilao) structured products, futures and options to account for Haidilao’s spin-off and separate listing of Super Hi shares on the SEHK by way of a distribution in specie.

Nasdaq Welcomes 156 IPOs And 29 Exchange Transfers In 2022

Date 15/12/2022

• Leading U.S. exchange by number of IPOs and proceeds raised for the fourth consecutive year
• SEC approves Nasdaq’s optimized rules for a direct listing with a capital raise
• Featured the largest SPAC IPO, SPAC combo switch, and direct listing
• 7 of the 10 largest global IPOs by proceeds raised listed on Nasdaq
• 74% of all proceeds raised through IPOs listed on Nasdaq

Bank Rate Increased To 3.5% - December 2022, Bank Of England Monetary Policy Summary And Minutes Of The Monetary Policy Committee Meeting

Date 15/12/2022

Monetary Policy Summary, December 2022

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 14 December 2022, the MPC voted by a majority of 6-3 to increase Bank Rate by 0.5 percentage points, to 3.5%. Two members preferred to maintain Bank Rate at 3%, and one member preferred to increase Bank Rate by 0.75 percentage points, to 3.75%.