News Centre

Implementation Of Phase 5 of Uncleared Margin Rules (UMR): Comment By Bob Stewart, Executive Director Of Institutional Trade Processing (ITP), DTCC

Date 09/08/2021

Ahead of the upcoming implementation of Phase 5 UMR on 1 September, Bob Stewart, Executive Director of Institutional Trade Processing (ITP) at DTCC commented.

“In less than one month, Phase Five of the BCBS-IOSCO’s uncleared margin requirements (UMR) for uncleared OTC derivatives will be implemented. Phase Five requirements will capture the largest number of firms that trade derivatives, and therefore it is critical that in-scope firms have significantly advanced their preparations for compliance with the new rules. "

Moscow Exchange: Risk Parameters Change For The Security TSN-RM

Date 09/08/2021

As per the Securities market risk parameters methodology, on 09.08.2021, 16-49 (MSK) the upper bound of the price band (up to 5789) and initial margins (up to 18.75 %) for the security TSN-RM were changed. New values are available here

In The Matter Of Poloniex, LLC, SEC Commissioner Hester M. Peirce, Aug. 9, 2021

Date 09/08/2021

Today’s enforcement action against Poloniex, once a popular crypto trading platform in the United States, doubles down on the Commission’s enforcement-centric approach to crypto. Poloniex, the Commission contends, was not registered as a national securities exchange nor did it operate pursuant to an exemption from registration at any time, and its failure to do so was a violation of Section 5 of the Exchange Act. There is just one minor problem—during the period at issue here (mid 2017 through 2019), the Commission was moving very cautiously with respect to regulated entities’ engagement with crypto assets. Sure, Poloniex could have tried to register as a securities exchange or, more likely, as a broker-dealer to operate an alternative trading system (ATS), a type of regulated trading venue that might be better able to accommodate non-traditional securities. Had it done so, it likely would have waited . . . and waited . . . and waited some more.

Micro WTI Crude Oil Futures Surpass 1 Million Contracts Traded

Date 09/08/2021

CME Group, the world's leading and most diverse derivatives marketplace, today announced that Micro WTI Crude Oil futures volume surpassed 1 million contracts on Friday, August 6, 2021.  

ICE Mortgage Technology’s Latest Origination Insight Report Shows Purchases Eclipse Refinances For First Time In 18 Months

Date 09/08/2021

ICE Mortgage Technology™, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, released its monthly Origination Insight Report (OIR) today. This month’s OIR notes that, of the total number of closed mortgage loans in June 2021, new home purchases represented a higher percentage than refinances. This is the first time since December 2019 that purchases eclipsed refinances in the OIR.

SEC Charges Poloniex For Operating Unregistered Digital Asset Exchange

Date 09/08/2021

The Securities and Exchange Commission today announced that Poloniex LLC has agreed to pay more than $10 million to settle charges for operating an unregistered online digital asset exchange in connection with its operation of a trading platform that facilitated buying and selling of digital asset securities.

Exegy Names Global FinTech Leader As New CRO - Craig Schachter Brings More Than 25 Years Of Experience In Financial Services

Date 09/08/2021

Exegy Inc., the global leader in low-latency market data and execution solutions, predictive trading signals, and hardware-acceleration technology, today announced the appointment of Craig Schachter as Chief Revenue Officer (CRO). In this newly created leadership role, Schachter will be responsible for setting and leading the organization’s global go-to-market strategy and execution, with a focus on superior business outcomes for the customer base.

Statement From US Secretary Of The Treasury Janet L. Yellen On The Debt Limit

Date 09/08/2021

Today, U.S. Secretary of the Treasury Janet L. Yellen released the following statement regarding the debt limit.

UK Financial Conduct Authority Publishes Decision Notice Against Financial Adviser For Pension Transfer Advice Failings

Date 09/08/2021

The Financial Conduct Authority has published a Decision Notice against Geoffrey Edward Armin of Retirement and Pension Planning Services Limited (In Liquidation) (RPPS).

Broadridge Onboards UBS Onto Distributed Ledger Repo Platform

Date 09/08/2021

Broadridge Financial Solutions, Inc. (NYSE:BR), a global fintech leader, today announced that UBS has joined its transformative distributed ledger repo (DLR) platform. Early participants of the blockchain-enabled platform are accelerating their digital journey and realizing the significant and immediate benefits of reduced risk and operational costs as well as enhanced liquidity. The addition of UBS builds on the early platform success and accelerates the expansion of the DLR network, leveraging Broadridge’s fixed income platform that processes over $6T in average daily volume and includes 20 of the 24 primary dealers.