News Centre

FSB Report Sets Out Need To Reduce Risks To Financial Stability From LIBOR Transition

Date 18/12/2019

The Financial Stability Board (FSB) today published its annual progress report on implementation of recommendations to reform major interest rate benchmarks. The report emphasises that the continued reliance of global financial markets on LIBOR poses risks to financial stability and it calls for significant and sustained efforts by the official sector and by financial and non-financial firms across many jurisdictions to transition away from LIBOR by end-2021.

Bank Of England Press Conferences Audio Feed

Date 18/12/2019

The Bank of England has issued the following statement:

“Following concerns raised with the Bank, we have recently identified that an audio feed of certain of the Bank press conferences - installed only to act as a back-up in case the video feed failed - has been misused by a third party supplier to the Bank since earlier this year to supply services to other external clients. This wholly unacceptable use of the audio feed was without the Bank’s knowledge or consent, and is being investigated further."

Commodity Prices Welcome A Trade War De-Escalation - The US-China "Phase One" Trade Deal Reduces Tensions And Improves The Mood In Markets, William May, Senior Economist, IHS Markit

Date 18/12/2019

Commodity prices, as measured by the IHS Materials Price Index (MPI), rose 1.6% last week, in response to several pieces of positive news on trade. Most important was a “phase-one” agreement reached between the US and China that promises to at least partially roll-back tariffs. In other good news, there was an agreement on the new US-Mexico-Canada trade pact and clarity on Brexit following Prime Minister Johnson’s election victory. The UK election result makes the UK’s exit from the European Union an almost certainty and will most likely move-up the leaving date.

MIAX Exchange Group - Christmas And New Years Holiday Schedule

Date 18/12/2019

Please be advised the MIAX Exchanges will have an abbreviated trading session on Tuesday, December 24, 2019.  All Option Classes will close 3 hours early.

CFTC Provides Relief To Market Participants Transitioning Away From Libor

Date 18/12/2019

Three divisions of the U.S. Commodity Futures Trading Commission today announced that each has issued a no-action letter that provides relief to swap dealers and other market participants as it relates to the industry-wide initiative to transition from swaps that reference the London Interbank Offered Rate (LIBOR) and other interbank offered rates to swaps that reference alternative benchmarks.

Creating A Culture Of Integrity Is Fundamental To Tackling Corruption, Advises Kroll - Kroll Urges Businesses To Use The Anniversary Of Foreign Corrupt Practices Act To Review The Effectiveness Of Their Anti-Corruption Programmes - Research Shows That Incidents Of Bribery And Corruption Have Affected Over A Quarter Of UK Businesses

Date 18/12/2019

Kroll, a division of Duff & Phelps, the global leader in risk mitigation, investigations, compliance, cyber resilience, security and incident response solutions, is urging business leaders to take a proactive stance against corruption after its Global Fraud and Risk Report revealed that over a quarter (26%) of British firms experienced incidents of bribery and corruption in the last 12 months, more than the global average of 23%. This guidance coincides with the anniversary of the Foreign Corrupt Practices Act (FCPA), which was brought in over 40 years ago and prohibits U.S. firms from paying bribes to foreign officials to help further a business deal. Other regulations, including the UK Bribery Act (2010), have since been enacted to help tackle the issue at a global level. 

ESMA Proposes Strengthened Rules To Address Undue Short-Termism In Securities Markets

Date 18/12/2019

The European Securities and Markets Authority (ESMA) has today published its findings on potential undue short-term pressures in securities markets. The European Commission (EC) had asked the three ESAs (ESMA, EBA and EIOPA) to investigate potential sources of undue short-termism on corporations and provide advice on areas which regulators should address. The three ESA reports are published today.

ETFGI Reports That Assets Invested In ETFs And ETPs Listed Globally Hit A New Record High Of US$6.12 Trillion At The End Of November 2019

Date 18/12/2019

ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reported today that ETFs and ETPs listed Globally gathered net inflows of 
$75.29 billion in November, bringing year-to-date net inflows to US$477.01 billion which is significantly higher than the US$439.61 billion gathered at this point last year. Assets invested in the Global ETF/ETP industry have increased by 2.5%, from US$5.96 trillion at the end of October, to US$6.12 trillion at the end of November, according to ETFGI's November 2019 Global ETFs and ETPs industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

DASH Names Steven Bonanno As Chief Information Officer - Veteran Capital Markets Executive Joins DASH To Lead Technology Operations And Infrastructure Teams

Date 18/12/2019

DASH Financial Technologies, the industry’s leading capital markets technology and execution provider, today announced the addition of Steven Bonanno as Chief Information Officer. Reporting directly to CEO Peter Maragos, Mr. Bonanno will be responsible for DASH’s I.T. infrastructure and technology platform operations.

Bank Of England Consults On Its Proposals For Stress Testing The Financial Stability Implications Of Climate Change

Date 18/12/2019

Today the Bank of England has published a discussion paper which sets out its proposed framework for the 2021 Biennial Exploratory Scenario (‘BES’) exercise.