News Centre

US Department Of Justice: Four Charged In Connection With Multibillion-Dollar Collapse Of Archegos Capital Management - Sung Kook (Bill) Hwang – The Founder And Head Of Archegos – And Three Others Charged With Racketeering And Fraud Offenses Related To Market Manipulation Scheme

Date 27/04/2022

An indictment was unsealed today charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos, and Patrick Halligan, Archegos’s Chief Financial Officer, with racketeering conspiracy, securities fraud, and wire fraud offenses in connection with interrelated schemes to unlawfully manipulate the prices of publicly traded securities in Archegos’s portfolio and to defraud many leading global investment banks and brokerages. Deputy Attorney General Lisa O. Monaco, U.S. Attorney Damian Williams for the Southern District of New York and Assistant Director-in-Charge Michael J. Driscoll of the FBI's New York Field Office made the announcement. Both defendants were arrested earlier today and will be presented this afternoon before U.S. Magistrate Judge Jennifer E. Willis. The case has been assigned to U.S. District Judge Andrew L. Carter, Jr.

ISDA: Firm Foundations – IQ April 2022

Date 27/04/2022

A lot has changed since ISDA last held an in-person Annual General Meeting (AGM). Back in 2019, when we gathered in Hong Kong, a major talking point was the challenges posed by LIBOR transition. Benchmarks will still be a focus at the 2022 AGM in Madrid on May 10-12, but the conversation will be a very different one. With 30 LIBOR settings having already been retired, market participants now have a playbook they can deploy when ditching the remaining five US dollar settings. Challenges remain, but they don’t seem quite as overwhelming as they perhaps did in 2019.

Nadex Product Schedule For The Week Of May 2, 2022

Date 27/04/2022

Due to the various holidays during the week of May 2, 2022, Nadex will observe the following schedule:

Inspector General Carl W. Hoecker To Retire From SEC - Rebecca Sharek Named Acting Inspector General

Date 27/04/2022

The Securities and Exchange Commission today announced that Inspector General Carl W. Hoecker will retire from the agency as of May 7, 2022. He has led the Office of Inspector General (OIG) since Feb. 11, 2013. Rebecca Sharek, Deputy Inspector General for Audits, Evaluations, and Special Projects, will serve as Acting Inspector General.

EBA Calls On Financial Institutions And Supervisors To Provide Access To The EU’s Financial System

Date 27/04/2022

The European Banking Authority (EBA) published today a statement addressed to both financial institutions and supervisors to ensure they make every effort to provide access for Ukrainian refugees to at least basic financial products and services. In the statement, the EBA sets out how its anti-money laundering and counter-terrorist financing (AML/CFT) guidelines apply in the current context, and how financial institutions can adapt their AML/CFT measures to provide a pragmatic and proportionate response to the compliance challenges they face. It also clarifies what financial institutions and supervisors can do to protect vulnerable persons from abuse by criminals and calls on financial institutions to ensure that compliance with the EU’s restrictive measures regime does not lead to unwarranted de-risking.

Refinitiv Releases Evolution Of Trading Report Series – Highlights Key Data & Technology Trends For Equities, Fixed Income, And FX Traders

Date 27/04/2022

• Automation – 44 percent of equity trading volume is automated. 66 percent of professionals expect in 1-3 years to focus more time on automating processes than on any other task.
• Digital Communication Capabilities – 58 percent of FX respondents see digitally communicating with customers/partners as one of their top priorities.
• Reference Data - 61 percent of respondents buy accurate FX market reference data because they cannot get reference data on their own.
• Pricing data - Dealer provided pricing seen as the most important data for fixed income traders.

CFTC Charges Archegos Capital Management And Three Employees With Scheme To Defraud Resulting In Swap Counterparty Losses Over $10 Billion - Two Archegos Employees Admit Roles In Fraud And Are Cooperating

Date 27/04/2022

The Commodity Futures Trading Commission today announced it has filed a complaint in the U.S. District Court for the Southern District of New York against Archegos Capital Management, LP (Archegos) and its Chief Financial Officer, Patrick Halligan, of Syosset, New York, charging them with fraud.

CME Group To Launch Canadian Wheat (Platts) Futures On June 13

Date 27/04/2022

CME Group, the world's leading derivatives marketplace, today announced it will launch Canadian Wheat (Platts) futures on June 13, pending regulatory review. This contract will offer market participants a new tool to directly manage exposure to the Canadian wheat market.

CFTC Announces Staff Roundtable Discussion On Non-Intermediation

Date 27/04/2022

Staff of the Commodity Futures Trading Commission will hold a public roundtable on May 25, 2022, from 9:30 a.m. to 4:00 p.m., to discuss issues related to intermediation in derivatives trading and clearing. 

US Acting Comptroller Of The Currency Issues Statement On Standards For Stablecoins

Date 27/04/2022

Acting Comptroller of the Currency Michael J. Hsu issued the following statement after his appearance today at the Artificial Intelligence and the Economy: Charting a Path for Responsible and Inclusive AI symposium hosted by the U.S. Department of Commerce, National Institute of Standards and Technology (NIST), FinRegLab, and the Stanford Institute for Human-Centered Artificial Intelligence.