News Centre

Launch Of West Africa’s first Exchange Traded Derivatives (ETDs) Receives Further Boost As SEC Approves 7 NGX’s Derivatives Contracts

Date 02/07/2021

Nigerian Exchange Limited (NGX or The Exchange) is pleased to announce that it has received approval for seven derivatives contracts from the Securities and Exchange Commission (SEC) on Monday, 28 June 2021. The approved contracts are: Access Bank Plc Stock Futures, Dangote Cement Plc Stock Futures, Guaranty Trust Bank Plc Stock Futures, MTN Nigeria Communications Plc Stock Futures, Zenith Bank Plc Stock Futures, NGX 30 Index Futures, and NGX Pension Index Futures.

ASIC: Westpac To Remediate Customers For Failure To Pass On Important Corporate Action Information

Date 02/07/2021

Westpac has committed to remediating customers whose financial advisers may have failed to notify them of corporate actions between 2005 and 2019. Westpac estimates approximately $87m will be paid in compensation to affected customers who are former clients of Westpac’s advice businesses and held ASX-listed securities through platforms.

Readout: US Secretary Of The Treasury Janet L. Yellen’s Call With French Minister Of Finance, The Economy, And The Recovery Bruno Le Maire

Date 01/07/2021

Earlier today, Secretary of the Treasury Janet L. Yellen spoke with French Minister of Finance, the Economy, and the Recovery Bruno Le Maire. They discussed the importance of advancing global tax reform efforts in the OECD/G20 discussions on international taxation. Secretary Yellen thanked Minister Le Maire for the close cooperation between the U.S. and French teams and his dedication to this effort.

MIAX Exchange Group - Options Markets - Option Classes To Be Added To The Penny Interval Program Beginning Friday, July 2, 2021

Date 01/07/2021

The following options classes will be included in the MIAX Exchange Groups' Penny Interval Program at the start of trading on Friday, July 2, 2021:

• Clover Health Investments, Corporation Class A (Ticker: CLOV)
• Mind Medicine Inc. (Ticker: MNMD)

CFTC Charges Three Individuals And Three Florida Companies With Fraud In Multimillion-Dollar Precious Metals Scheme

Date 01/07/2021

 The Commodity Futures Trading Commission today announced that it has filed a civil enforcement action in the U.S. District Court for the Southern District of New York against Robert Jeffrey Johnson, Kathleen Hook, Ross Baldwin, Precious Commodities, Inc. (PCI), National Coin Broker, Inc. (NCB), and NCB Wholesale Co. (NCBWC), all of Florida, charging them with fraud in connection with a multimillion-dollar precious metals leasing scheme.

Readout: US Secretary Of The Treasury Janet L. Yellen’s Call With Canadian Deputy Prime Minister And Finance Minister Chrystia Freeland

Date 01/07/2021

Earlier today, Secretary of the Treasury Janet L. Yellen spoke with Canadian Deputy Prime Minister Freeland about the upcoming G20 Finance Ministers and Central Bank Governors meeting in Venice, Italy. The Secretary reviewed the progress being made on objectives shared with Canada in reaching global consensus on international tax issues.  Secretary Yellen also detailed the objectives of the Biden-Harris Administration in addressing climate change domestically and through international engagement.

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: