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SIX Trading Key Figures: October 2020

Date 02/11/2020

In October 2020 trading turnover on the Swiss Stock Exchange was down 8.1% compared to the previous month and reached CHF 118.6 billion, while the number of transactions decreased by 3.0% to a total of 7,161,385. In comparison with the corresponding period last year (ytd), trading turnover was up by 19.3% to reach CHF 1,483.7 billion, while the number of trades rose by 58.9% to a total of 84,409,640. The SMI® fell by 5.9% and reached 9,587.2 points at the end of October.
Statement At Open Meeting On Facilitating Capital Formation And Expanding Investment Opportunities By Improving Access To Capital In Private Markets, SEC Commissioner Elad L. Roisman, Nov. 2, 2020

Date 02/11/2020

Today, the SEC staff has put before us a recommendation to adopt several rule amendments that aim to facilitate capital formation, particularly for small and medium-sized businesses and entrepreneurs across the United States. This recommendation is the product of extensive study and outreach on the part of the Commission. This has been a topic of interest to the Commission for many years, and the Commission put forth a comprehensive concept release in June 2019.[1] Further informed by this release and commenters’ responses and outreach, the Commission proposed amendments to our rules in March 2020.[2] In total, we have received over 300 comment letters and met with many issuers, investors, crowdfunding portals, as well as many other advocates and groups on improving the functioning of our markets for investors and companies. The amendments we are considering today would streamline and tailor the exempt offering framework for businesses seeking to raise capital while preserving investor protections. For these reasons, I am supportive of the changes.
Moscow Exchange: Risk Parameters Change For The Security NEM-RM

Date 02/11/2020

As per the Securities market risk parameters methodology, on 02.11.2020, 20-55 (MSK) the upper bound of the price band (up to 2890) and initial margins (up to 21.25 %) for the security XOM-RM were changed. New values are available here
Statement At Open Meeting On Facilitating Capital Formation And Expanding Investment Opportunities By Improving Access To Capital In Private Markets, SEC Commissioner Hester M. Peirce, Nov. 2, 2020

Date 02/11/2020

Thank you, Mr. Chairman, and thank you to Bill, John, and S.P for the overview of the recommendation. Conversation at the Commission’s conference on interconnectedness last week turned in a direction that helps to explain why what we are doing today is so important. Specifically highlighted was the need for the creation of “engines of capital accumulation.” These engines enable one generation to pass down wealth to the next and enable communities to grow and prosper. Small businesses are engines of capital accumulation. Unfortunately, many small businesses that could be successful struggle to find the capital they need to create wealth. We have to do a better job getting capital to those businesses, and that is what today’s amendments are all about.
Moscow Exchange: Risk Parameters Change For The Security NEM-RM

Date 02/11/2020

As per the Securities market risk parameters methodology, on 02.11.2020, 20-20 (MSK) the upper bound of the price band (up to 5530) and initial margins (up to 26.25 %) for the security NEM-RM were changed. New values are available here

SEC Harmonizes And Improves “Patchwork” Exempt Offering Framework - Rule Amendments Harmonize Registration Exemptions, Eliminating Complexity And Facilitating Access To Capital And Investment While Preserving Or Enhancing Important Investor Protections

Date 02/11/2020

The Securities and Exchange Commission today voted to amend its rules in order to harmonize, simplify, and improve the multilayer and overly complex exempt offering framework. These amendments will promote capital formation and expand investment opportunities while preserving or improving important investor protections.
CFTC And South African Reserve Bank Announce Cooperative Effort To Promote Fintech Innovation

Date 02/11/2020

The Commodity Futures Trading Commission and the South African Reserve Bank (SARB) today announced they have signed a Statement of Intent to cooperate and support innovation through each authority’s respective financial technology (fintech) initiative—CFTC’s LabCFTC and SARB’s Fintech Unit.
Statement On Harmonization Of Securities Offering Exemptions, SEC Commissioner Caroline A. Crenshaw, Nov. 2, 2020

Date 02/11/2020

Today’s rule significantly expands private market access to investors without first putting in place appropriate investor protections.[1] As a result, issuers will be able to conduct larger and more frequent private offerings with fewer restrictions. These offerings will be made to a pool of investors with varying levels of risk tolerance, information access, investment experience and bargaining power. There are tradeoffs in that decision. Unfortunately, today’s release fails to engage in any substantive way with the crucial threshold question of whether those tradeoffs are – or even can be – balanced in a way that adequately protects retail investors. Not only that, the rule fails to address the fact that in the private markets, the rich and well-connected typically have better access to the most promising companies, while retail investors get the leftovers – too often, unfortunately, the losers.[2] Instead of providing retail investors access to that elusive high return rate, the majority’s steady march of expanding the private markets will only further entrench the country’s increasing and concerning economic divide.[3]
MGEX Reports Best October In History

Date 02/11/2020

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), finished October 2020 as the 11th best month for total monthly volume in history of the Exchange with a total of 268,611 contracts. This past month became the new record for the best October in history, decimating the previous record, October 2007, by 68,163 contracts.
Statement On Amendments To The Exempt Offering Framework, SEC Commissioner Allison Herren Lee, Nov. 2, 2020

Date 02/11/2020

For decades, private offerings were the exception to the rule in our securities regime. The registration and reporting provisions in the federal securities laws are designed to level the playing field by requiring issuers to provide all investors with reliable, timely, and material information about investments. The public markets are designed to, and to a remarkable degree succeed at, offering a fair shake to the so-called mom-and-pop investor vis-à-vis a wealthy hedge fund. What’s more, the discipline imposed by public markets drives more efficient capital allocation, which in turn drives our economy.