News Centre

Cboe Becomes Primary Listing Exchange For ProShares Volatility ETFs

Date 16/12/2020

• All U.S. volatility ETPs are now primarily listed on Cboe BZX Exchange
• Cboe is home to a total of 22 ProShares ETFs
• With latest ETF transfers, Cboe and ProShares continue to expand relationship

Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The December 15-16 FOMC Meeting

Date 16/12/2020

The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the December 15-16 meeting.

SEC Adopts Final Rules For The Disclosure Of Payments By Resource Extraction Issuers

Date 16/12/2020

The Securities and Exchange Commission today voted to adopt final rules that will require resource extraction issuers that are required to file reports under Section 13 or 15(d) of the Securities Exchange Act of 1934 to disclose payments made to the U.S. federal government or foreign governments for the commercial development of oil, natural gas, or minerals.  The rules implement Section 13(q) of the Exchange Act, which was added by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”).  The rules are intended both (1) to achieve the statutory objective of increasing the transparency of payments to governments for the purpose of the commercial development of their oil, natural gas, and minerals and (2) to comply with the Congressional Review Act (CRA).

Federal Reserve Announces The Extension Of Its Temporary U.S. Dollar Liquidity Swap Lines And The Temporary Repurchase Agreement Facility For Foreign And International Monetary Authorities (FIMA Repo Facility) Through September 30, 2021

Date 16/12/2020

The Federal Reserve on Wednesday announced the extension of its temporary U.S. dollar liquidity swap lines and the temporary repurchase agreement facility for foreign and international monetary authorities (FIMA repo facility) through September 30, 2021. These facilities were temporarily established in March 2020 to ease strains in global dollar funding markets resulting from the COVID-19 shock and mitigate the effect of such strains on the supply of credit to households and businesses, both domestically and abroad. Extensions to both facilities through March 2021 were announced on July 29, 2020. A further extension of these facilities will help sustain recent improvements in global U.S. dollar funding markets by serving as an important liquidity backstop. In addition, the FIMA repo facility will help continue to support the smooth functioning of the U.S. Treasury market by providing an alternative temporary source of U.S. dollars other than sales of securities in the open market.

Statement On Resource Extraction, SEC Commissioner Caroline A. Crenshaw, Dec. 16, 2020

Date 16/12/2020

Today we find ourselves in a difficult situation. On one hand, we have a clear congressional mandate to promulgate a rule directing issuers to disclose certain resource extraction payments. On the other hand, we are bound by the requirements of the Congressional Review Act (“CRA”), which states that any rule we adopt today may not be “substantially the same” as the rule Congress invalidated. We are now faced with novel questions of law: what does “substantially the same” mean in this context and how do we reconcile these congressional directives?

Federal Reserve Issues FOMC Statement

Date 16/12/2020

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.

Binance, Coinbase Platforms Crash After Bitcoin Breaks USD20,000

Date 16/12/2020

Commenting on today's Bitcoin trading Paolo Ardoino, CTO at Bitfinex said :

"Bitcoin soaring past $20,000 has pushed some leading platforms in the space to the limit, We need to show just how far the digital token space has come and deliver the sort of impeccable service expected in incumbent capital markets. Exchanges can ill-afford unscheduled downtime or outages as volumes climb. Let's all be on top of our game and our tech.”

Bitcoin Breaks $20,000 Barrier To Hit All-Time High - Comment From Ziglu

Date 16/12/2020

As Bitcoin hits record $20,000, please find a comment from Ziglu's Chief Growth Officer, Yang Li - 

"Bitcoin has shown market resilience time and time again. Breaking through $20K was only a matter of time.  In a period where bonds are yielding negative rates, big banks having the audacity to pay negligible interest and charge for even basic bank accounts it is no wonder more and more people are looking to store some of their money in cryptocurrencies."

Statement At Open Meeting On Disclosure Of Payments By Resource Extraction Issuers, SEC Commissioner Hester M. Peirce, Dec. 16, 2020

Date 16/12/2020

Thank you, Mr. Chairman, and thank you, Betsy [Murphy], Elliott [Staffin], and S.P. [Kothari].  Resource extraction rulemaking is somewhat of a holiday tradition at the SEC; the Commission voted on its first proposal ten years ago almost to the day on December 15, 2010.  Last December, I likened our experience with this rulemaking to the classic Dickens novel “A Christmas Carol.”  Having spent two consecutive holiday seasons immersed in the nuances of Section 1504 of the Dodd-Frank Act, I think the more apt comparison is Tim Burton’s contemporary story: “The Nightmare Before Christmas,” a movie that I would prefer not to watch, let alone play a part in. 

Gas Tariffs Reports: ACER Recommends The Bulgarian Regulator To Communicate In A Transparent And Predictable Way With Stakeholders And The Agency

Date 16/12/2020

​In its Report on the Bulgarian tariff consultation published today​, ACER recommends the Bulgarian Energy and Water Regulatory Commission (EWRC) to apply transparency when communicating with stakeholders and ACER.