News Centre

ICI CEO Eric Pan On IOSCO Announcement Of New Secretary General

Date 01/07/2021

Commenting on the announcement that Martin Maloney was appointed IOSCO Secretary General replacing Paul Andrews,  Eric J. Pan, CEO, ICI, commented:

"ICI applauds today’s announcement that Martin Moloney will become Secretary General of the International Organization of Securities Commissions (IOSCO). IOSCO is leading work on crucial issues of the day for the securities industry, including sustainable investment, financial stability, and investor protection. Martin will be a tremendous Secretary General. We look forward to working with him to inform and advance this dialogue."

CAT: How Much Should FINRA And Trading Venues Pay? By Kelvin To, Founder And President At Data Boiler Technologies

Date 01/07/2021

We argued against both the original “execution venue” concept and the proposed “message traffic” concept for the Consolidated Audit Trail (CAT) funding model. If CAT is meant to prevent future flash crashes, curb suspicious trading behavior and unusual market events, then why should those who are doing things fairly and squarely be subjected to regulatory scrutiny and CAT cost burden? Since CAT is an attempt to protect investors from market manipulation, flash crashes, etc. We believe the CAT funding model should be driven mainly by fines and settlements coming from CAT investigations, which deem acceptable revenue streams to cover CAT LLC costs satisfying the §11.2 funding principles.

Cboe Announces Launch Of New Cboe 3-Month Implied Correlation Index

Date 01/07/2021

• New volatility-related benchmark index provides three-month, constant maturity representation of implied correlation for the S&P 500 Index
• Aims to help market participants better understand factors driving volatility and implement dispersion trading strategies
• Index values are disseminated four times per minute during the trading day

Moscow Exchange: Risk Parameters Change On Securities Market

Date 01/07/2021

CCP NCC will set the following risk parameters on Securities market starting from July 5, 2021:

1. Market risk rates, concentration limits, stress collateral scenarios:

IMF Executive Board Concludes Second Review Under Jordan’s Extended Arrangement And Request For Augmentation Of Access To Address The Impact Of COVID-19

Date 01/07/2021

• Jordan has shown strong performance in implementing its reform program, which is geared to boosting jobs-rich and inclusive growth, while maintaining macroeconomic and financial stability.
• Program targets have been revised to allow adequate fiscal space to protect the recovery, expand the social safety net, and address high unemployment. The program will continue to accommodate additional spending on health and social protection.
• The IMF Executive Board has approved an increase in access under the EFF arrangement by about US$200 million. Stepped-up support from donors will be key to helping Jordan cope with the impact of the pandemic on the Jordanian people, while hosting 1.3 million Syrian refugees.

Moscow Exchange: Risk Parameters On Securities Market

Date 01/07/2021

CCP NCC sets the following risk parameters on Securities market starting from 02.07.2021. :

MIAX Options Exchange - Updated July 1, 2021 Fee Changes

Date 01/07/2021

As previously announced in the June 30th Alert, effective July 1, 2021, pending filing with the SEC, the MIAX Options Fee Schedule will be amended.

Statement On The IFRS Foundation’s Proposed Constitutional Amendments Relating To Sustainability Standards, SEC Commissioner Hester M. Peirce, July 1, 2021

Date 01/07/2021

The International Financial Reporting Standards (“IFRS”) Foundation oversees the International Accounting Standards Board, one of the world’s preeminent accounting standard-setters. In recent months, the IFRS Foundation’s gaze has drifted to sustainability reporting. In September 2020, the IFRS Foundation began formally exploring the creation of an International Sustainability Standards Board under the Foundation’s governance structure.

Moscow Exchange: CNY Penalty Rate Change

Date 01/07/2021

According to the CCP NCC decision CNY penalty rate is set equal to 20% starting from July 2, 2021.

MGEX Reports June As The Second-Best Month In History

Date 01/07/2021

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reports that this past month was the 2nd best month in the history of the Exchange with a grand total of 412,672 contracts traded. This is the first time MGEX has reached over 400,000 contracts since June 2017. Compared to May, June saw a 58% increase in total volume.