News Centre

SEC Announces New Asset Management Advisory Committee Member

Date 04/11/2020

Today the Securities and Exchange Commission announced the appointment of Renee LaRoche-Morris, Chief Operating Officer, BNY Mellon Investment Management, as a new member of the Asset Management Advisory Committee.  Ms. LaRoche-Morris was appointed following the resignation of Mark Tibergien, who retired from BNY Mellon/Pershing. 

CFTC Approves Eris Clearing, LLC To Clear Fully-Collateralized Swaps

Date 04/11/2020

The Commodity Futures Trading Commission today announced it has approved an Amended Order of Registration for Eris Clearing, LLC, located in Chicago, Ill., to clear additional products, subject to the terms and conditions specified in the order, as a derivatives clearing organization under the Commodity Exchange Act.

Cboe Global Markets Reports October 2020 Trading Volume

Date 04/11/2020

• Total options ADV up 27 percent from October 2019
• Total U.S. equities ADV up 29 percent from October 2019
• ADV in VIX options and Mini-SPX options both up 35 percent from September 2020
• Cboe EDGX Equities Exchange market share in October 2020 reaches new all-time high

CAPIS Hires Ben Jenkins As Director, Transition Management

Date 04/11/2020

Capital Institutional Services (CAPIS), a Dallas-based institutional broker-dealer, today announced Ben Jenkins rejoined the firm as a director in the firm’s transition management group.

FSB Europe Group Discusses Responses To COVID-19 And Non-Bank Financial Intermediation

Date 04/11/2020

The Financial Stability Board (FSB) Regional Consultative Group (RCG) Europe held a virtual meeting today to discuss the challenges in addressing the evolving financial stability issues as a result of the COVID-19 pandemic, including the resilience of the banking sector in continuing to finance the real economy, as well as the findings of the FSB’s too-big-to-fail evaluation. Members also discussed the market turmoil in March that highlighted vulnerabilities in the non-bank financial intermediation sector (NBFI) related to liquidity mismatches, leverage and interconnectedness. Members reiterated the importance of understanding risk, risk transmission and policy implications in NBFI, and welcomed the FSB’s holistic review of the March turmoil that will be published later this month.

CFTC Swaps Report Update

Date 04/11/2020

CFTC's Weekly Swaps Report has been updated, and is now available.

Tradeweb Reports October Total Trading Volume Of $19.4 Trillion - Average Daily Volume Of $910.8 Billion In October Marks Tradeweb's Second-Highest Month Ever

Date 04/11/2020

• Average daily volume (ADV) across rates, credit, equities and money markets for Tradeweb Markets was $910.8 billion (bn) in October 2020, up 28.8 percent (%) year over year (YoY) and Tradeweb’s second-highest month ever. Average daily trades for the month totaled 51,077.
• Tradeweb captured record TRACE share in U.S. High Grade of 19.2% (including 9.4% fully electronic) and record TRACE share in U.S. High Yield of 5.9% (including 3.6% fully electronic). Monthly ADV records were set in U.S. High Yield and Repurchase Agreements, as well as portfolio trading.

CFTC: Frequently Asked Questions Regarding The Post-Trade Name Give-Up Rule In Commission Regulation 37.9(D)

Date 04/11/2020

On June 25, 2020, the CFTC approved a new rule under § 37.9(d) of its regulations (PTNGU rule). The new rule prohibits a SEF from directly or indirectly disclosing the identity of a counterparty to a swap that is (i) intended to be cleared, and (ii) executed, pre-arranged, or pre-negotiated anonymously on, or pursuant to the rules of, a SEF (PTNGU prohibition).[1] The PTNGU prohibition does not apply to swaps that are not intended to be executed anonymously, such as trades done via a name-disclosed request for quote.[2] The PTNGU rule also requires a SEF to establish and enforce rules that prohibit any person from effectuating such a disclosure.[3] The PTNGU rule provides an exception to the prohibition on post-trade name give-up for package transactions that include a component transaction that is not a swap intended to be cleared.[4] The Commission adopted the PTNGU rule with a phased compliance schedule. For swaps that are “made available to trade” and therefore subject to the trade execution requirement under Commodity Exchange Act (“CEA”) section 2(h)(8)[5] (MAT swaps), SEFs must comply with § 37.9(d) no later than November 1, 2020. For swaps not subject to the trade execution requirement under CEA section 2(h)(8), SEFs must comply with § 37.9(d) no later than July 5, 2021.

EBA Encourages Financial Institutions To Put The Required Focus On Consumers’ Interests When Applying Product Oversight And Governance Arrangements

Date 04/11/2020

• The Report identifies a range of good practices and encourages financial institutions to  use them;
• Many financial institutions do not sufficiently put the required focus on ensuring that consumers’ needs are met in line with the Guidelines;
• The EBA and relevant competent authorities will continue monitoring how financial institutions apply the EBA POG Guidelines and whether they make use of the good practices identified in this Report.

TMX Group Consolidated Trading Statistics – October 2020

Date 04/11/2020

TMX Group Limited today announced October 2020 trading statistics for its marketplaces – Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange and Montréal Exchange.