News Centre

ESMA AND EBA Publish Final Guidance On Fit And Proper Requirements

Date 02/07/2021

The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) published today their revised final joint Guidelines on the assessment of the suitability of members of the management body and key function holders. These Guidelines take into account the amendments introduced by the revised Capital Requirements Directive (CRD V) and the Investment Firms Directive (IFD), and their effect on the assessment of the suitability of members of the management body, in particular with regard to money laundering and financing terrorism risks, and gender diversity. The joint final Guidelines will apply from 31 December 2021.

EBA Publishes Its Final Guidelines On Internal Governance

Date 02/07/2021

The European Banking Authority (EBA) published today its revised Guidelines on internal governance. The update takes into account the amendments introduced by the fifth Capital Requirements Directive (CRD V) and the Investment Firms Directive (IFD) in relation to credit institutions’ sound and effective governance arrangements, in particular with regard to gender diversity, money laundering, financing terrorist risk and the management of conflicts of interest, including in the context of loans and other transactions with members of the management body and their related parties. The final revised Guidelines will apply from 31 December 2021

SEC Charges Hedge Fund Trader In Lucrative Front-Running Scheme

Date 02/07/2021

The Securities and Exchange Commission today announced fraud charges against Sean Wygovsky, a trader at a major Canada-based asset management firm, in connection with a long-running and lucrative front-running scheme that Wygovsky perpetrated in the accounts of his close family members, netting more than $3.6 million in illicit gains. 

Moscow Exchange Trading Volumes In June 2021

Date 02/07/2021

In June 2021, total trading volumes across Moscow Exchange’s markets grew by 11.7% to RUB 81.5 trln (RUB 72.9 in June 2020). Unless stated otherwise, all figures below refer to performance for June 2020 and all comparisons are with the same period last year.

London Stock Exchange Group Investor Education Event – 2 July 2021

Date 02/07/2021

Click here to download the presentation.

BIS: Passive Funds Affect Prices: Evidence From The Most ETF-Dominated Asset Classes

Date 02/07/2021

Summary

Focus

This paper studies the size and source of exchange-traded funds' (ETFs) price impact in the most ETF-dominated asset classes: volatility (VIX) and commodities. These ETFs hold a much larger share of the underlying market compared with equities or bonds. The fraction of ETFs in the market for VIX futures often exceeds 40%, whereas it is less than 2% in the S&P 500 Index. Several episodes from the VIX market in 2018 and the oil market in 2020 showed that large ETF-induced trading can exacerbate price changes in turbulent times. To understand the risks of trading against ETFs, I propose a novel decomposition of ETF demand into three major components: calendar rebalancing, flow rebalancing and leverage rebalancing.

EBA Publishes Its Final Revised Guidelines On Sound Remuneration Policies

Date 02/07/2021

The European Banking Authority (EBA) published today its revised Guidelines on sound remuneration policies. This update takes into account the amendments introduced by the fifth Capital Requirements Directive (CRD V) in relation to institutions’ sound remuneration policies and, in particular, the requirement that remuneration policies should be gender neutral. The final Guidelines also consider supervisory practices and clarify some aspects of retention bonuses and severance pays. The revised Guidelines will apply from 31 December 2021.

OCC June 2021 Total Volume Up 25.6 Percent From A Year Ago - Second Highest Month In OCC’s History; Highest June On Record

Date 02/07/2021

OCC, the world's largest equity derivatives clearing organization, announced today that June 2021 total cleared contract volume was 870,149,871 contracts, the second highest month in OCC’s history and up 32.7 percent compared to June 2020. Year-to-date average daily cleared contract volume through June was 39,400,310 contracts, up 25.6 percent compared to June 2020.

HKEX Bond Connect Celebrates 4th Anniversary

Date 02/07/2021

Bond Connect Company Limited (BCCL) was today delighted to host a celebratory summit with market participants and industry groups in HKEX Connect Hall to mark the 4th Anniversary of the landmark Bond Connect programme.

Green Finance Group At GPW

Date 02/07/2021

• UN Global Compact Network Poland (UN GCNP) and the Warsaw Stock Exchange (GPW) have opened a new edition of activities with the financial and banking industry as a part of the Green Finance Group appointed by UN GCNP at the request of the Minister of Finance and the Minister of Economic Development
• The meeting follows a master agreement concerning co-operation in support of sustainable finance tools