News Centre

ASIC Takes Steps To Ensure Equity Market Resiliency

Date 16/03/2020

As part of the Australian Government’s response to the novel coronavirus (COVID-19), ASIC has taken steps to ensure Australian equity markets remain resilient.

ECB: Coordinated Central Bank Action To Enhance The Provision Of Global US Dollar Liquidity

Date 15/03/2020

• ECB and other major central banks to offer weekly US dollar operations with 84-day maturity in addition to existing 1-week operations
• Pricing of all US dollar operations to be lowered to USD OIS rate plus 25 basis points
• New pricing and additional operations effective as of the week of 16 March, to remain in place for as long as appropriate to support smooth functioning of US dollar funding markets

Dow Futures Fall 900 Points Despite Fed Rate Cut

Date 15/03/2020

Despite the U.S. Federal Reserve slashing rates back to near zero, Dow Jones Industrial Average futures were off by more than 900 points as of 18:12 EST. S&P 500 futures fell by more than 4% while Nasdaq 100 futures fell 4%.

Nasdaq Statement On North American Operations

Date 15/03/2020

• All electronic equities, options, and fixed income markets remain fully operational
• New listings and Initial Public Offerings continue as scheduled
• PHLX Options Market trading floor transitions to electronic-only trading

ASX Confirms Normal Market Operations After A Positive Case Of COVID-19, And Asks Employees To Work From Home

Date 15/03/2020

ASX reports that one of our employees has tested positive to COVID-19. The advice was received on Saturday 14 March.

Statement From The Governor Of The Bank Of England, Mark Carney, And Incoming Governor, Andrew Bailey - Statement About The Coordinated Central Bank Action To Enhance The Provision Of Global U.S. Dollar Liquidity

Date 15/03/2020

Today’s coordinated action by major central banks will improve global liquidity by lowering the price and extending the maximum term of U.S. dollar lending operations. These new operations will help ease strains in global funding markets, thereby supporting the supply of credit to households and businesses.

Federal Reserve Actions To Support The Flow Of Credit To Households And Businesses

Date 15/03/2020

The Federal Reserve is carefully monitoring credit markets and is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals. In addition to actions taken by the Federal Open Market Committee, including actions taken in coordination with other central banks, the Federal Reserve Board announced a series of actions in support of these goals. These actions are summarized below.

Coordinated Central Bank Action To Enhance The Provision Of U.S. Dollar Liquidity

Date 15/03/2020

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements.

Federal Reserve Issues FOMC Statement

Date 15/03/2020

The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States. Global financial conditions have also been significantly affected. Available economic data show that the U.S. economy came into this challenging period on a strong footing. Information received since the Federal Open Market Committee met in January indicates that the labor market remained strong through February and economic activity rose at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although household spending rose at a moderate pace, business fixed investment and exports remained weak. More recently, the energy sector has come under stress. On a 12‑month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation have declined; survey-based measures of longer-term inflation expectations are little changed.

NZX Response To Coronavirus (COVID-19)

Date 15/03/2020

NZX has considered the Government’s announcement on 14 March 2020 of new border controls to protect New Zealanders from COVID-19, and advises that we do not foresee any impact from these measures on the continued full operation of our markets, regulatory function, or services to customers.