News Centre

SOFR Swaps Top $50B In Daily Volume As Firms Prepare To Cease New Libor Use

Date 03/11/2021

• SOFR Overnight Index Swaps (OIS) averaged daily notional turnover of $51.6 Billion in October, according Clarus Financial Technology data
• With daily turnover having grown more than 400% since June (the last full month prior to the SOFR First initiative), SOFR accounted for more than 32% of USD Libor/SOFR DV01 traded in October
• Five federal financial institution regulatory agencies issued a joint statement on October 20, clarifying “the meaning of no new Libor contracts” as it pertains to supervised institutions subject to previous Supervisory Guidance

SIFMA AMG Statement On Launch Of The International Sustainability Standards Board

Date 03/11/2021

SIFMA AMG today released the following statement from Tim Cameron, SIFMA Managing Director and head of SIFMA’s Asset Management Group (SIFMA AMG) regarding the establishment of the International Sustainability Standards Board (ISSB):

“SIFMA AMG strongly supports the development of coherent and comprehensive internationally recognized, industry-specific sustainability reporting standards, as such standards are necessary to provide consistency across the market and enhance the reliability and comparability of sustainability reporting for investors."

British Columbia Securities Commission: Sophisticated Crypto Scams Targeting B.C. Residents Through Social Media And Dating Sites (English And Chinese)

Date 03/11/2021

The B.C. RCMP, British Columbia Securities Commission (BCSC), Canadian Anti-Fraud Centre (CAFC) and municipal police are warning the public about an emerging trend of fraudsters using social media and online dating sites to lure B.C. residents into crypto-asset scams.

CISI Announces Its Global Wealth Summit Series With Experts From China, Africa, US And The UK

Date 03/11/2021

Some of the world’s leading experts in the areas of wealth, investment management and financial services will be headlining the CISI’s Global Wealth Summit series, with the Africa Wealth Summit 16 November, China Wealth Summit 18 November and the London Wealth Summit 23 November 2021.

Nodal Exchange Achieves Record Volume With 67% Growth In Power And 80% Growth In Environmental Markets In October

Date 03/11/2021

Nodal Exchange today announced new trading records in power and environmental futures.  In power, Nodal set a trading month record in October 2021 with 256 million MWh of power futures volume traded in the month. This represents Nodal Exchange’s highest volume month ever (excluding the NFX business acquisition in February 2020) and a growth rate of 67% over October 2020. Nodal continues to be the market leader in North American power futures having the majority share of the open interest with a record 1.140 billion MWh at the end of October. The open interest represents over $110 billion of notional value (both sides).

CME Releases Optimizer For Eris SOFR Portfolio Margining

Date 03/11/2021

• CME is expanding its portfolio margining offering for IRS products to include Eris SOFR-based Swap Futures
• Clearing Firms using the CME Optimizer software must upgrade to version 17 by November 15, 2021
• Details are available in CME Advisory Notice 21-381

Confluence, Backed By Clearlake Capital And TA Associates, To Acquire Investment Metrics For $500m -Acquisition Of Leading Provider Of Investment Data, Performance, Analytics, And Research Software Solutions Expands Confluence's Reach In The Investment Management Industry

Date 03/11/2021

Confluence Technologies, Inc. ("Confluence"), a global technology solutions provider helping the investment management industry solve complex investment data challenges, today announced that it has agreed to acquire Investment Metrics for US$500 million.  Investment Metrics is a global provider of investment data, performance, analytics and research software solutions that help institutional investors and advisors achieve better financial outcomes, grow assets and retain clients with clear investment insights. Confluence is backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and TA Associates ("TA").

Broadridge Further Expands Its Asset Management Distribution Advisory Business Hiring Industry Heavyweight - Ben Phillips Joins Effective November 1, 2021

Date 03/11/2021

Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE: BR) announced today that Casey Quirk’s former Chief Strategist and Principal, Ben Phillips, will join the firm to lead its emerging global asset management advisory services business.

Eris Open Interest Ends October At 422,550, Up 100% YTD

Date 03/11/2021

• Less than 45 days after surpassing 300,000 open interest for the first time, CME Eris Swap Futures open interest surpassed 400,000 on October 15 and closed the month at a record 422,550
• Front-month open interest has grown more than 400% YTD, ending October at a record level of 148,772 contracts
• CME Eris Swap Futures traded an average of 11,398 contracts per day in October, surpassing by more than 25% the previous record volume mark for a non-roll month (9,035 in August 2019)
• A substantial portion of this growth is driven by new and existing end user clients using Eris Swap Futures to hedge rate moves during October’s swap curve flattening and the looming prospects of Federal Reserve rate hikes

Opening Remarks Of FIA President And CEO Walt Lukken At Expo 2021

Date 03/11/2021

FIA President and CEO Walt Lukken today made the following remarks at the opening of FIA’s Futures & Options Expo. Mr. Lukken’s remarks are as prepared for delivery:

Good morning and welcome to FIA Expo. It’s been two years since we last met here in Chicago, and I can’t tell you how excited I am to be back. Before Covid, my annual calendar revolved around FIA conferences.