News Centre

ISDA: Use Of RMB-Denominated Chinese Government Bonds As Margin For Derivatives Transactions

Date 25/03/2021

A large number of financial institutions in Asia-Pacific are expected to be brought into scope of phases five and six of the initial margin (IM) requirements for non-cleared derivatives in September 2021 and September 2022. As part of their preparations, market participants will need to know which high-quality liquid assets they can post as IM and understand any regulatory or legal impediments that may affect their choice.

Statement Of Commissioner Brian D. Quintenz On ErisX RSBIX NFL Contracts And Certain Event Contracts - Any Given Sunday In The Futures Market

Date 25/03/2021

In December 2020, ErisX filed a self-certification that their RSBIX NFL futures contracts involving the moneyline, point spread, and total points on NFL football games meet the requirements of the CEA for a contract listed by a registered Designated Contract Market (DCM).  Prior to 2018, sports gaming was limited by a federal law which only allowed it to legally occur in Nevada. After Murphy v. NCAA[1] struck down that law, multiple states have legalized sports gambling and thereby allowed legitimate business activity in that area.  Since the derivative markets’ historical use is the hedging of commodity price risk associated with economic activity, contracts relating to the outcome of sporting events could now have a legitimate economic and hedging purpose for businesses in these states. Such was the intent of ErisX’s contracts.

Federal Reserve Announces Temporary And Additional Restrictions On Bank Holding Company Dividends And Share Repurchases Currently In Place Will End For Most Firms After June 30, Based On Results From Upcoming Stress Test

Date 25/03/2021

The Federal Reserve Board on Thursday announced that the temporary and additional restrictions on bank holding company dividends and share repurchases currently in place will end for most firms after June 30, after completion of the current round of stress tests. Firms with capital levels above those required by the stress test will no longer be subject to the additional restrictions as of that date. Firms with capital levels below those required by the stress test will remain subject to the restrictions.

Superintendent Lacewell Announces Proposed New York State Department Of Financial Services Guidance To New York Insurers On Managing The Financial Risks From Climate Change - Proposed Guidance Outlines Expectations That New York Insurers Integrate The Consideration Of Climate Risks Into Their Governance Frameworks, Risk Management Processes And Business Strategies, And Develop Their Approach To Climate-Related Financial Disclosure - DFS Seeks Input On The Proposed Guidance During 90-Day Comment Period

Date 25/03/2021

Superintendent of Financial Services Linda A. Lacewell today announced that the New York State Department of Financial Services (DFS) has issued proposed detailed guidance for New York-regulated domestic insurers setting out DFS’s expectations related to managing the financial risks from climate change.  

US Secretary Of The Treasury Janet L. Yellen's Statement On The Confirmation Of Wally Adeyemo As Deputy Secretary Of The Treasury

Date 25/03/2021

My warmest congratulations to Wally Adeyemo, our new Deputy Secretary of the Treasury. The Senate confirmed him today in a broad bipartisan vote.

US Department Of Justice: Former Oil Trader Pleads Guilty To Commodities Price Manipulation Conspiracy

Date 25/03/2021

A California man pleaded guilty Wednesday to a multiyear conspiracy to engage in commodities price manipulation.

Alberta Securities Commission Seeks Comment On Proposed New Small Business Finder’s Exemption

Date 25/03/2021

The Alberta Securities Commission (ASC) is seeking input on a proposed new registration exemption for finders to help start-ups and other small businesses in Alberta with capital raising.

SIFMA Statement On Passage Of New York State LIBOR Legislation

Date 25/03/2021

SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on the passage of LIBOR legislation by the New York State Legislature:

“We are pleased the New York State Legislature passed the model law for New York to help transition ‘tough legacy’ contracts that are difficult or practically impossible to amend.  SIFMA, as a member of the Alternative Rates Reference Committee (ARRC), helped develop and championed this legislation to facilitate a smooth transition from LIBOR to an alternative reference rate, which is a top priority for the financial services industry.  SIFMA supports market, legislative and regulatory efforts to ensure a smooth transition while avoiding market disruption and legal uncertainty, and to that end we encourage Congress to pass a federal law similar to the one passed in New York to address these issues on a national level.”

Alberta And Saskatchewan Securities Regulators Seek Comment On Proposed New Small Business Financing Initiative

Date 25/03/2021

The Alberta Securities Commission (ASC) and the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) are seeking input on a proposal designed to provide greater access to capital by start-ups and other small businesses in Alberta and Saskatchewan and broaden investment opportunities for investors in those provinces.

Moscow Exchange: Risk Parameters Change For The Security BIDU-RM - Update

Date 25/03/2021

As per the Securities market risk parameters methodology, on 25.03.2021, 22-27 (MSK) the lower bound of the price band (up to 14826) and initial margins (up to 29.75 %) for the security BIDU-RM were changed. New values are available here