News Centre

SIX Trading Key Figures: June 2020

Date 01/07/2020

In June 2020 trading turnover on the Swiss Stock Exchange was up 17.3% compared to the previous month and reached CHF 153.0 billion, while the number of transactions increased by 10.4% to a total of 8,611,342. In comparison with the corresponding period last year, trading turnover was up by 47.3% to reach CHF 1,020.8 billion, while the number of trades rose by 112.1% to a total of 56,418,744. The SMI® rose by 2.2% and reached 10,045.3 points at the end of June.

EBA Publishes Final Guidelines On The Treatment Of Structural FX Positions

Date 01/07/2020

The European Banking Authority (EBA) published today its final Guidelines on the treatment of structural FX positions. The aim of these Guidelines is to establish a harmonised framework for the application of the structural FX waiver, which will allow its consistent application going forward. The Guidelines will be applicable from 1 January 2022, one year later than originally envisaged to ensure that institutions have time to prepare for the introduction of the requirements.

Building A Financial Regulatory System Suitable For The UK In The New Era, Speech Delivered By Nausicaa Delfas, Executive Director Of International, UK Financial Conduct Authority, At The City & Financial Professional Virtual Roundtables

Date 01/07/2020

Highlights

• The ‘new era’ will be defined by developments brought about by Brexit, Covid-19 and technological and societal changes
• On Brexit, we all need to continue to prepare for a range of scenarios, to be ready for the end of the year
• On Covid-19, the regulatory agenda is moving from crisis response to supporting economic recovery
• Non-banks will be critical in enabling recapitalisation to promote growth and recovery from the pandemic

Deutsche Börse: Cash Market Trading Volumes In June

Date 01/07/2020

Deutsche Börse’s cash markets generated a turnover of €198.8 billion in June (previous year: €116.0 billion).

BETTER FINANCE - Wirecard AG: An Outrageous Case Of Corporate Governance, External Auditing And Supervisory Failures, Once Again At The Expense Of Investors And Pension Savers

Date 01/07/2020

It is with surprise that BETTER FINANCE and its member organisations representing financial services users read the headline on 18 June 2020 that Wirecard AG (“WD”), one of Europe’s FinTech success stories, may have mis-reported €1.9 billion in its balance sheets, filling for insolvency a few days later.

BIS: Corporate Credit Markets After The Initial Pandemic Shock

Date 01/07/2020

Key takeaways

• Corporate funding markets partially resumed after seizing up in mid-March 2020 - but at much higher spreads and with sharper sectoral differentiation.
• In March, wide spreads for highly rated energy firms pointed to significant downgrade risk.
• Post-GFC leverage build-up amplified the damaging effects of financial stress during the pandemic.
•  The unusually broad impact of the pandemic shock on lower-rated firms threatens CLO structures, though not as much as the bursting of the housing bubble undermined CDOs.

FSB Statement On The Impact Of COVID-19 On Global Benchmark Reform

Date 01/07/2020

The Financial Stability Board (FSB) has discussed the impact of COVID-19 on global benchmark transition. The FSB’s Official Sector Steering Group (OSSG) is monitoring the developments closely and recognises that some aspects of firms’ transition plans are likely to be temporarily disrupted or delayed, while others can continue. The FSB maintains its view that financial and non-financial sector firms across all jurisdictions should continue their efforts in making wider use of risk-free rates in order to reduce reliance on IBORs where appropriate and in particular to remove remaining dependencies on LIBOR by the end of 2021.

EEX Publishes Revised 2020 Auction Calendar For Emission Allowances - Innovation Fund Auctions To Begin In July

Date 01/07/2020

The European Energy Exchange (EEX) has published the revised 2020 calendar for the auctioning of EU emission allowances (EUA) in coordination with the European Commission, the EU Member States and the EEA EFTA states auctioning on the common auction platform (CAP2) as well as with the competent German and Polish authorities.

Statistics From Nasdaq Nordic Exchange June 2020

Date 01/07/2020

Monthly statistics including stock and derivative statistics;

• Volumes and Market cap
• Most traded companies
• Most active members
• Listings and members

Leading The Change: Climate Action In The Financial Sector - Speech By Sarah Breeden, Bank Of England Executive Director, UK Deposit Takers Supervision, Given At The UK Finance Webinar Held During London Climate Action Week

Date 01/07/2020

Sarah Breeden is the Bank’s executive sponsor for work on climate change.  As part of London Climate Action Week 2020, Sarah delivered a speech at a UK Finance web event on how the Financial Sector can draw on the recent work of the Bank, Climate Financial Risk Forum (CFRF), and Network for Greening the Financial System (NGFS) to move beyond rhetoric and help make climate action a reality.