News Centre

ISDA: Contractual Standards For Digital Asset Derivatives

Date 14/12/2021

Digital assets have experienced enormous growth over the past decade to reach almost $3 trillion in market value, and this has been accompanied by an increase in the number and diversity of market participants. As has been the case with other markets, derivatives will play an important role in the digital asset market, facilitating price discovery, increasing liquidity and allowing market participants to hedge.

Acting Comptroller Of The Currency Issues Statement On RFI On Bank Mergers

Date 14/12/2021

Acting Comptroller of the Currency Michael J. Hsu issued the following statement today regarding the Request for Information on bank mergers.

I support the view of the majority of the FDIC Board members that the Bank Merger Act (BMA) guidelines are ripe for review. I am particularly focused on the financial stability prong, given large bank merger trends and my experience in the 2008 financial crisis with too-big-to-fail firms.

IIFM And ISDA Publish IBOR Fallback Bilateral Amendment Agreement And Definitions Booklet

Date 14/12/2021

The International Islamic Financial Market (IIFM) and ISDA today announced the publication of the ISDA/IIFM IBOR Fallback Definitions Booklet for Islamic Hedging Transactions, which will enable firms that transact under relevant documentation to agree to robust contractual fallbacks for certain key interbank offered rates (IBORs). IIFM and ISDA have also published an ISDA/IIFM Shari’ah-Compliant Bilateral Amendment Agreement template to enable institutions to agree with their counterparties to incorporate the fallbacks for existing Islamic hedges.   

Nadex Amends Listing Hours During The Week Of January 3, 2022

Date 14/12/2021

Nadex will observe the following modified holiday schedule for the week of January 3, 2022:

ISDA-Clarus RFR Adoption Indicator: November 2021

Date 14/12/2021

ISDA-Clarus RFR Adoption Indicator increased to an all-time high of 26.3% in November compared to 24.5% the prior month. The indicator tracks how much global trading activity (as measured by DV01) is conducted in cleared over-the-counter and exchange-traded interest rate derivatives (IRD) that reference the identified risk-free rates (RFRs) in six major currencies. On a traded notional basis, the percentage of RFR-linked IRD comprised 17.7% of total IRD in November compared to 17.0% the prior month.

Virtual Remarks At The Center For American Progress And Sierra Club: Down the Rabbit Hole Of Climate Pledges, SEC Commissioner Caroline A. Crenshaw Dec. 14, 2021

Date 14/12/2021

Thank you Daniella [Gibbs Léger], I am thrilled to be here today. And I want to commend the Center for American Progress and the Sierra Club for the hard work and dedication behind the important research that is being recognized today. Climate change is a crisis that poses an existential threat to our society, and our capital markets will not escape the impact. But before I continue, I must give my standard disclaimer that the views I express are my own and do not necessarily reflect the views of the Commission or its staff.

American Blockchain PAC Issues Statement On ‘Historic’ December 8th Hearing On Future Of Digital Assets In America

Date 14/12/2021

On December 8th, the House Financial Services Committee held the first of undoubtedly many more hearings on the future of cryptocurrency and digital assets in America’s financial ecosystem. 

Advancing Equity Analysis In Tax Policy: By US Deputy Secretary Of The Treasury Wally Adeyemo And Assistant Secretary For Tax Policy Lily Batchelder

Date 14/12/2021

President Biden promised to build the country back better and to do so equitably. For far too long, the economy has left behind people of color and other disadvantaged communities because of structural barriers to opportunities, a dynamic which the pandemic exacerbated. Taking steps to reduce those barriers must flow through every part of the government. Recognizing that such inequity has both moral and economic components, Secretary Yellen is committed to helping unlock the potential of disadvantaged communities. Doing so will not only make our economy fairer, but also stronger, more competitive, and more resilient. 

FSB Europe Group Discusses Non-Bank Financial Intermediation And Third-Party Outsourcing

Date 14/12/2021

The Financial Stability Board (FSB) Regional Consultative Group (RCG) for Europe held a virtual meeting today to discuss global and regional financial vulnerabilities and policy initiatives to strengthen financial stability.

NGX RegCo Restates Commitment To Promoting Fair, Transparent Market

Date 14/12/2021

NGX Regulation (NGX RegCo) Limited today restated its commitment to promoting a fair, transparent, and orderly Nigerian capital market at the the 2021 Issuers’ Engagement Forum with the theme: ‘Corporate Disclosures – Beyond Numbers’.