News Centre

Coinbase Announces Proposed Private Offering Of $1.25 Billion Of Convertible Senior Notes Due 2026

Date 17/05/2021

Coinbase Global, Inc. (“Coinbase”) (Nasdaq: COIN) today announced its intention to offer, subject to market conditions and other factors, $1.25 billion aggregate principal amount of Convertible Senior Notes due 2026 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Coinbase also expects to grant the initial purchasers of the notes a 30-day option to purchase up to an additional $187.5 million principal amount of notes solely to cover over-allotments. The notes will be senior, unsecured obligations of Coinbase, will accrue interest payable semi-annually in arrears and will mature on June 1, 2026, unless earlier repurchased, redeemed or converted. The notes will be convertible into cash, shares of Coinbase’s Class A common stock, or a combination thereof, at Coinbase’s election. The interest rate, initial conversion rate, and other terms of the notes are to be determined upon pricing of the offering.

MIAX Options Exchange - Updates To The SPIKES Special Settlement Auction Settlement Reference Price Opening Width And SPIKES Valid And Priority Quote Width Tables

Date 17/05/2021

Due to sustained market volatility, MIAX Options will continue to use the Settlement Reference Price Opening Width and Valid and Priority Quote Width tables detailed in MIAX Options Regulatory Circular 2021-04 for opening the SPY June 18, 2021 options used in the May 19, 2021 SPIKES Special Settlement Auction.

SEC Awards More Than $31 Million To Whistleblowers In Two Enforcement Actions

Date 17/05/2021

The Securities and Exchange Commission today announced whistleblower awards to four individuals totaling more than $31 million. 

Moscow Exchange: Risk Parameters Change For The Security CMCSA-RM

Date 17/05/2021

As per the Securities market risk parameters methodology, on 17.05.2021, 20-43 (MSK) the lower bound of the price band (up to 3890) and initial margins (up to 16.25 %) for the security CMCSA-RM were changed. New values are available here

US Federal Agencies Extend Comment Period On Request For Information On Artificial Intelligence

Date 17/05/2021

Five federal financial regulatory agencies announced today they will extend the comment period on the request for information on financial institutions' use of artificial intelligence (AI) until July 1, 2021.

Moscow Exchange: Risk Parameters Change For The Securities

Date 17/05/2021

The following risk parameters will be changed:

IR risk (downward scenario) - SECΔ_1 (Y0/Y1)

Federal Reserve Board Issues Report On The Economic Well-Being Of U.S. Households

Date 17/05/2021

In the fourth quarter of 2020, nearly one-fourth of adults said that they were worse off financially compared to a year earlier, reflecting the economic fallout and distress resulting from the global COVID-19 pandemic. The Federal Reserve Board's report, Economic Well-Being of U.S. Households in 2020, which was released on Monday, found a larger share of adults were worse off in 2020 than in previous years of the survey. This change occurred broadly across the population, but not all groups fared similarly.

Statement On S&P Dow Jones Indices LLC, SEC Commissioner Hester M. Peirce, May 17, 2021

Date 17/05/2021

Today the Commission announced a settled enforcement action against S&P Dow Jones Indices LLC (“S&P DJI”). The Commission charged S&P DJI with violating Section 17(a)(3) of the Securities Act, which prohibits, in the offer and sale of securities, engaging in any transaction, practice, or course of business which operates or would operate as a fraud or deceit on the purchaser. In charging S&P DJI, the Commission addresses conduct that is outside the reach of Section 17(a)(3). Moreover, this precedent, if not appropriately confined to its particular facts, will open the door to subsequent expansions of the securities laws to reach all manner of actors and conduct with even more tenuous connections to the offer and sale of securities. Accordingly, I do not support bringing this action.

indexfx1.com: BaFin Investigates Index Capital Limited

Date 17/05/2021

In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin wishes to clarify that Index Capital Limited, with registered offices in Berlin, Hong Kong, Singapore, the British Virgin Islands, and Vanuatu, has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company claims on its website that it is licensed and regulated by BaFin. This claim is not true. The company is not subject to BaFin’s supervision. The registration number that is mentioned on the website is fake.

Corporate & Municipal CUSIP Request Volumes Climb For Third Straight Month - Corporate Issuance Up 23%, Municipal Volumes Up 4% In April

Date 17/05/2021

CUSIP Global Services (CGS) today announced the release of its CUSIP Issuance Trends Report for April 2021. The report, which tracks the issuance of new security identifiers as an early indicator of debt and capital markets activity over the next quarter, found a significant monthly increase in request volume for new corporate and municipal identifiers.