News Centre

ISDA Endorses Creation Of ESAP

Date 16/03/2021

On March 12, 2021, ISDA submitted a response to the European Commission’s (EC) consultation on the establishment of a European Single Access Point (ESAP) for financial and non-financial data. In its response, ISDA endorses the creation of ESAP, highlighting the benefits for cross-border access to meaningful information and the reporting of environmental, social and governance-related information. With respect to the scope of ESAP, ISDA recommends that the eventual administrators of ESAP should focus on a small number of data points at the initial stage, characterized by low-frequency and raw company level data, such as data resulting from the Transparency Directive, Accounting Directive and Audit Directive as well as the revised Non-Financial Reporting Directive. In addition, the ISDA response discusses the usability and data governance of ESAP by highlighting the potential benefits of the Common Domain Model.

New York Attorney General James Urges Victims Of Precious Metals Scheme To File A Claim Before Deadline - Seniors Deceived Into Investing Millions In Metals.Com And Related Companies - Defrauded Investors Have Through April 30 To File Claim

Date 16/03/2021

New York Attorney General Letitia James today urged victims of fraud perpetrated by Metals.com and related entities to file a claim with a court appointed receiver and begin the process of recovering their defrauded funds. Last September, Attorney General James, along with 29 additional states and the U.S. Commodity Futures Trading Commission (CFTC), filed a lawsuit against Metals.com for defrauding seniors across New York and the rest of the nation — soliciting more than $185 million by peddling false claims and by charging exorbitant fees for overpriced precious metals. Earlier this month, the U.S. District Court for the Northern District of Texas entered an injunction and a restraining order, freezing the assets of the defendants and appointing a receiver to marshal the defendants’ remaining assets and issue relief to defrauded clients.

CME Group To Launch E-mini Nasdaq-100 Monday And Wednesday Weekly Options On April 12

Date 16/03/2021

CME Group, the world's leading and most diverse derivatives marketplace, today announced it will expand its suite of E-mini Nasdaq-100 options with the launch of Monday and Wednesday Weekly options on April 12, pending regulatory review. These new options contracts will complement the existing Friday Weekly, End-of-Month and Quarterly options on E-mini Nasdaq-100 futures.

Cboe Global Markets Announces Date Of First-Quarter 2021 Earnings Release And Conference Call

Date 16/03/2021

Cboe Global Markets, Inc. (Cboe: CBOE), a market operator and global trading solutions provider, today said it will announce its financial results for the first quarter of 2021 before the market opens on Friday, April 30, 2021. A conference call with remarks by the company's senior management will begin at 7:30 a.m. Central Time (CT), 8:30 a.m. Eastern Time (ET).

The EBA Will Make Its Basel III Monitoring Exercise Mandatory

Date 16/03/2021

The European Banking Authority (EBA) published today a decision, which will change the Basel III monitoring exercise from its current voluntary nature to a mandatory exercise from December 2021. This change stems from the need to expand the sample to more jurisdictions and credit institutions, making it more representative, as well as to reach a stable sample over time by providing authorities with a sound legal basis that frames institutions’ participation. This decision will assist the EBA to represent, effectively, the interests of EU institutions in the Basel Committee on Banking Supervision (BCBS) and to provide informed opinions and technical advice to the European Commission, the European Parliament and the Council regarding the implementation of the BCBS standards into the Union law.

BIS: Big Techs In Finance: Regulatory Approaches And Policy Options

Date 16/03/2021

Highlights

• At present, financial services represent a relatively small part of big techs' overall activities, though this can change rapidly due to the unique features of their business models and they could quickly become systemically important – or "too big to fail".
• Big techs' financial operations are subject to the same requirements as those of other market participants. As such, big techs need to hold appropriate licences to perform regulated financial activities or provide their services in partnership with financial institutions that meet the regulatory requirements.
• Risks connected with big tech activities in finance may not be fully captured by the regulatory approach up to now, which is geared towards individual entities or specific activities and not the risks that are created by substantive interlinkages within big tech groups and their role as critical service providers for financial institutions.
• An effective oversight of big tech activities in finance calls for going beyond a piecemeal policy framework and considering recalibrating the mix of entity-based and activity-based rules, in favour of the former in certain policy areas. A step further would be to assess the possibility of introducing a bespoke approach for big techs encompassing a comprehensive public policy framework. In any case, there is a need for enhancing cross-sectoral and cross-border cooperative arrangements.

Moscow Exchange: Revised Maximum Quantity Of Securities Eligible As Collateral On Derivatives Market

Date 16/03/2021

CCP NCC changes maximum quantity of securities eligible as collateral on Derivatives Market starting from 7:00 p.m. on March 22, 2021:

A Forward Look At Regulation Of The UK’s Wholesale Financial Markets - Keynote Speech By Edwin Schooling Latter, Director Of Markets And Wholesale Policy At The FCA, Delivered At The ISLA's Post Trade Conference On 16 March

Date 16/03/2021

Highlights

• Decisions to tailor securities financing transaction reporting and settlement buy-in rules to achieve the desired outcomes in the way that best fits UK-based markets.
• The FCA welcomes recommendations to look at aligning prospectus documentation requirements with the type of capital raise being undertaken.
• There is scope to simplify and remove costs from some parts of the MiFIDII regime without material loss of benefits.

FIA Industry Survey Finds Positive Outlook For Growth Of Cleared Derivatives Markets - Majority Of Respondents Expect Growth To Continue, Led By Commodities And Equities; Pandemic And Political Risks Top List Of Concerns Facing The Industry; And China, Bitcoin And Operational Efficiency Are Key Focus Areas For Banks, Brokers And Technology Vendors

Date 16/03/2021

FIA today released a report summarizing the findings from a survey conducted at the beginning of 2021 to assess the outlook for the global cleared derivatives industry. The survey gathered feedback from people working at banks, brokers, exchanges, technology vendors and other firms that support the trading and clearing of derivatives such as futures and options.

UBS MTF Trading Notice: Rulebook & User Guide Changes

Date 16/03/2021

Following the publication on March 11, 2021 of the UBS MTF Market Notice N4 announcing the transfer of the operations of UBS MTF from UBS AG London Branch to UBS MTF Limited, UBS MTF would like to  inform its Members of changes to its Rule Book and User Guide.