News Centre

SIFMA And SIFMA AMG Publish Master Treasury Securities Clearing Agreement

Date 25/09/2024

SIFMA and SIFMA’s Asset Management Group (SIFMA AMG) today published the “2024 SIFMA Master Treasury Securities Clearing Agreement:  Done-With” and the Schedule to the Agreement to allow market participants, in connection with the expansion of clearing in the Treasury market, to meet their clearing documentation needs efficiently.  As a result of the SEC’s rule to require a significant portion of the Treasury cash and repo market to be cleared, many market participants will need to make appropriate arrangements to have their Treasury securities transactions cleared.  The SEC’s requirement is set to be fully implemented by June 2026.

CFTC Charges Texas Associated Person With Misappropriation Of Nonpublic Information And Execution Of Fictitious Trades

Date 25/09/2024

The Commodity Futures Trading Commission announced today it filed a civil enforcement action in the U.S. District Court for the Southern District of Texas against John Cartwright, a Houston resident.

CFTC: Federal Court Orders Texas Man And Six Companies To Pay Over $9.5 Million In Fraudulent Scheme Involving Futures, Options, And Foreign Currency

Date 25/09/2024

The Commodity Futures Trading Commission today announced Judge Samuel A. Lindsay of the U.S. District Court for the Northern District of Texas entered multiple orders and a judgment against Rudy Avila; L.I.F.T. Group LLC (LIFT), Trading Ventures Group (TVG), Capital Ventures Group, LLC, (CVG), and Ventures Group, LLC (  VGL), all U.S. companies; and CIG Internacional Sociedad Anónima (CIG) and Trading Technologies Group Sociedad Anónima (TTG), both Costa Rican companies, requiring monetary relief totaling over $10.5 million The orders and judgment resolve the CFTC’s enforcement action against these defendants filed Sept.14, 2021. [See CFTC Press Release 8424-21]

Who’s Buying? The Outlook For Consumption In A Rate Cutting Cycle − Speech By Megan Greene, Bank Of England, Member Of The Monetary Policy Committee, Given At The North East Chambers Of Commerce, Newcastle

Date 25/09/2024

In these remarks, Megan Greene analyses the weaker consumption and higher savings rates that have characterised the UK economy in recent years. She considers how they may evolve as UK interest rates fall, what this means for her policy stance and how to account for uncertainty in determining a policy path going forward.

Revised REMIT: ACER Clarifies New Obligations For Non-EU Market Participants And Persons Professionally Arranging Or Executing Transactions

Date 25/09/2024

The Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) aims to prevent and protect consumers and businesses against market abuse in the European electricity and gas markets. The rules were revised in May 2024 to ensure they keep pace with evolving market dynamics.

SEC Charges Merrill Lynch And Harvest Volatility Management For Ignoring Client Instructions - SEC Penalizes Firms, Recovers More Than $6 Million Of Excess Fees Tied To Options Trading Strategy

Date 25/09/2024

The Securities and Exchange Commission today announced charges against Harvest Volatility Management LLC and Merrill Lynch, Pierce, Fenner & Smith Inc. for exceeding clients’ designated investment limits over a two-year period beginning in March 2016, which resulted in clients paying higher fees, being subjected to increased market exposure, and incurring investment losses. As part of the separate settlements, Harvest and Merrill have agreed to pay a combined $9.3 million in penalties and disgorgement to resolve the SEC’s claims. 

CISI Joins Global Capacity Building Coalition Supporting Launch Of New Digital Platform For Finance Climate Action Strategies

Date 25/09/2024

• Michael R. Bloomberg and Mary Schapiro Announce Beta Launch of Platform to Support Financial Institutions Seeking to Build Climate Finance Technical Capacity and Resources
• Developed by the Global Capacity Building Coalition, the new Digital Platform is designed to be a go-to global resource for financial institutions developing climate action strategies, particularly in emerging markets and developing economies
• Following its launch at COP28 with 19 founding members, the Coalition’s membership has now more than doubled to over 50 organizations

ICE Clear Credit Is First CDS Clearing House To Process More Than $1 Trillion USD Notional Amount In One Day

Date 25/09/2024

Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced that ICE Clear Credit processed a record of more than $1.1 trillion USD equivalent notional amount of credit default swap (CDS) instruments on Friday, September 20 - the most ever cleared in a single day by any CDS clearinghouse. As part of that, a record daily notional amount of $900 billion from client-related CDS transactions was cleared.

London Stock Exchange Group: Publication Of Final Terms

Date 25/09/2024

The following Final Terms are available for viewing:

Final Terms dated 25 September 2024 of LSEG US Fin Corp. for the US$100,000,000 4.000 per cent. Guaranteed Notes due 27 September 2027 (ISIN: XS2908610632) (the Final Terms) (the Notes), unconditionally and irrevocably guaranteed by London Stock Exchange Group plc and issued pursuant to the £4,000,000,000 Euro Medium Term Note Programme of London Stock Exchange Group plc, LSEGA Financing plc, LSEG Netherlands B.V. and LSEG US Fin Corp. (the Programme).

TRUSTED AI: Ethical, Safe, And Effective Application Of Artificial Intelligence At The Bank Of England − Speech By James Benford, Bank Of England Executive Director For Data And Analytics Transformation And Chief Data Officer, Given At The Central Bank AI Conference

Date 25/09/2024

Recent advances in artificial intelligence (AI) bring many opportunities and challenges to central banks. In this new chapter, we should take confidence from our experience with models. But resolve and humility are critical for us to broaden our data and analytics agendas and strengthen governance. Models will need to be TRUSTED (Targeted, Reliable, Understood, Secure, stress-Tested, Ethical and Durable) to ensure their ethical, safe and effective application across the organisation.