News Centre

BIS: Stress-Testing Banks For Climate Change – A Comparison Of Practices

Date 14/07/2021

Global and national financial authorities are increasingly taking action to require the financial industry to assess and manage climate risks. To this end, they have launched stress tests for banks and more exercises are planned for the near future. The use of stress tests is an important step forward in dealing with climate risks as these tests are useful for sizing, even if only approximately, potential impacts of climate risks.

Europex: ‘Fit For 55’ Package: A Coherent, Competitive And Innovation-Friendly Market Framework Needed To Drive 2030 Decarbonisation Efforts

Date 14/07/2021

Europex welcomes the publication of the ‘Fit for 55’ package as an important step to align European climate and energy legislation with the agreed target of at least 55% net emission reductions by 2030. The legislative proposals published today underline the common understanding that competitive energy and emissions markets must drive decarbonisation efforts at least cost to the energy system and consumers while ensuring a high level of competition and innovation. We therefore welcome proposals to strengthen the EU ETS and bolster its role as the central instrument for reducing greenhouse gas emissions in the EU. Coherence is needed across the entire package, for example ensuring that national support schemes do not undermine the efficient functioning of energy and emissions markets. We comment below on selected proposals.

GreenVolt Lists On Euronext Lisbon

Date 14/07/2021

• €150 million raised

• Market capitalisation of over €500 million

• 35th listing of a cleantech company on Euronext in 2021

• 118th listing on Euronext in 2021

Navigating The Economy Through The Covid Crisis - Speech By Dave Ramsden, Bank Of England, Deputy Governor, Markets and Bank - Given At The Strand Group, King’s Business School

Date 14/07/2021

Dave Ramsden looks at the impact of Covid on the UK economy and how it has affected our forecasts. Then he talks about what might happen next and the path for future policy.

Vitesse Selects Alessa By Tier1 Financial Solutions To Enable Secure Real-Time Global Transactions

Date 14/07/2021

Alessa by Tier1 Financial Solutions, a leading provider of client relationship management (“CRM”), AML compliance and fraud prevention solutions, has been selected by Vitesse, a FCA and European (DNB) regulated provider of seamless international payments and innovative treasury management solutions.

ETFGI Reports Assets Are A Record US$9.35 Trillion And Net Inflows A Record US$660.73 Billion For The Global ETFs Industry At End Of First Half 2021

Date 14/07/2021

ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reports that assets invested in ETFs and ETPs listed globally reached a record US$9.35 trillion at the end of first half of 2021. ETFs and ETPs listed globally gathered net inflows of US$88.50 billion during June, bringing year-to-date net inflows to record US$660.73 billion which is higher than the prior record of US$293.69 billion gathered at this point last year.  US$1.028 trillion in net inflows have been gathered in the past 12 months.  Assets invested in the global ETFs/ETPs industry grew by 17% in the first half of 2021 going from US$7.99 trillion at the end of 2020, to US$9.35 trillion at the end of June, according to ETFGI's June 2021 Global ETFs and ETPs industry landscape insights report, a monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

Mercury Derivatives Trading Renews Contract With Trading Technologies And Expands Use Of TT® Platform Services

Date 14/07/2021

Mercury Derivatives Trading (Mercury), a Hertshten Group portfolio company, and Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, today announced Mercury has renewed its contract with TT for use of the TT trading platform.

Persistence Launches pSTAKE Mainnet To Bridge $100B Staking Industry To Decentralized Finance - Over 17,000 Users Took Part In The Public Alpha Of The Liquid Staking Protocol, With Its Mainnet Launch Set To Unlock Liquidity Of Staked Assets Globally.

Date 14/07/2021

- Persistence, the ecosystem of multi-chain DeFi products designed to stimulate global liquidity and enable seamless value exchange, has launched the mainnet for its liquid staking solution: pSTAKE. 

pSTAKE unlocks the true potential of Proof-of-Stake (PoS) tokens by unlocking the liquidity of staked assets. Token holders of pSTAKE supported PoS networks can mint 1:1 pegged ERC-20 staked representative tokens for their native PoS assets. Subsequently, these assets can be utilized within the existing Ethereum DeFi ecosystem to generate additional yield. The initial phase of the launch will provide support for Cosmos, with support added for a range of PoS networks, including Solana, Polkadot, and Ethereum 2.0, over the coming months. 

With over 17,000 participants registering to take part in the public alpha for pSTAKE, the network has gone through a successful period of debugging and testing that will bootstrap the network on launch. In total, over 77,000 actions were performed on the public alpha, including the wrapping and staking of test tokens, ensuring that users will be familiar with the full suite of pSTAKE services on launch.

Tushar Aggarwal, CEO and Founder of Persistence commented, “I’m thrilled with the extraordinary levels of engagement that we have seen on our public alpha over the past few weeks, which has helped tremendously in testing our network and building a strong, resilient foundation for mainnet launch. With over $100B worth of crypto assets currently staked on PoS networks, and that value expected to rise significantly, solutions are needed to stimulate locked liquidity on PoS networks. The launch of pSTAKE provides the crypto community with a comprehensive solution for unlocking the liquidity of staked assets and bridging the gap between staking and decentralized finance.” 

Deposit contracts on pSTAKE will initially be capped at 50,000 ATOM on launch, with caps gradually expanded over the coming weeks and lifted in late August. A number of liquidity pools will be whitelisted by pSTAKE, where users can stake ATOM to earn staking rewards. Liquid staking provides opportunities far beyond that of solely staking, enabling significant growth in  DeFi in the respective PoS ecosystems in which they operate. pSTAKE is one of a range of DeFi products that form the Persistence ecosystem, including AUDIT.One, a staking-as-a-service solution for institutions, and Comdex, an agri commodities decentralized exchange (DEX).  

The UAE Embassy In Israel Officially Opened On Tel Aviv Stock Exchange

Date 14/07/2021

The United Arab Emirates have officially and historically opened its Embassy in Israel located in the Tel Aviv Stock Exchange Building in a festive ceremony held on location this morning. The event was held in the presence of the President of Israel, HE Isaac Herzog; UAE Minister of State for Food and Water Security, currently visiting Israel, HE Mariam Almheiri; UAE Ambassador to Israel, HE Mohamed Al Khaja; Mayor of Tel Aviv-Yafo, Mr. Ron Huldai; Former Foreign Affairs Minister of Israel, Mr. Gabi Ashkenazi; CEO of TASE, Mr. Ittai Ben-Zeev; and Mr. Amnon Neubach, Chairman of the Board of Directors of TASE.

Swiss-Based Crypto Hub CV Labs Announces Partnership With Institution-Oriented Financial Company Black Ocean

Date 14/07/2021

Black Ocean, a liquidity-providing platform incubated by the high-frequency quantitative trading institution VRM, has announced a strategic partnership with CV Labs, a Swiss blockchain ecosystem business and incubator that provides co-working, advisory and event services for startups and corporate clients.