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DataLend: Securities Lending Revenue Down 16% Year-Over-Year To $2.53 Billion In Q2 2024 - Global Revenue Declines Year-Over-Year Due To Lagging Equities Performance In The U.S. And EMEA

Date 02/07/2024

The global securities finance industry generated $2.53 billion in revenue for lenders in the second quarter of 2024, according to DataLend, the market data service of fintech EquiLend. The figure represents a 16% decrease from the $3.00 billion generated in Q2 2023.

Purdue University/CME Group Ag Economy Barometer: Farmer Sentiment Drifts Lower On Weaker Future Expectations

Date 02/07/2024

Farmer sentiment drifted downward in June as the Purdue University/CME Group Ag Economy Barometer reading of 105 was 3 points lower than a month earlier. The overall decline in sentiment was due to a five-point drop in the Index of Future Expectations, which fell to 112, while the June Current Conditions Index increased to 90, 1 point higher than the May index. High input costs, the risk of lower prices for their products, and rising interest rates continue to weigh on farmer sentiment. This month's Ag Economy Barometer survey was conducted from June 17-21.

New Members Appointed To Finansinspektionen’s Board Of Directors

Date 02/07/2024

The Government has appointed Martin Flodén and Roine Vestman, both professors in economics at Stockholm University, to FI’s Board of Directors.

Investor Activity On GPW In June 2024

Date 02/07/2024

GPW Main Market equity turnover reached PLN 24.3 billion in June 2024, a decrease of 2.4% year on year. Average daily equity turnover on the Warsaw Stock Exchange increased to PLN 1.21 billion, up 2.4% year on year. The broad market index WIG gained close to 13% in H1 2024.

FSB Consults On Interim Findings Of Its Evaluation Of The Effects Of The G20 Financial Regulatory Reforms On Securitisation

Date 02/07/2024

• Evaluation finds that risk retention and higher prudential requirements have enhanced the resilience of the securitisation market, without strong evidence of material negative side-effects on financing to the economy.
• The reforms have contributed to a redistribution of risk from banks to the non-bank financial intermediation (NBFI) sector.
• Further analysis will be undertaken, incorporating feedback from this public consultation, before publication of a final report at the end of 2024.

ICE Mortgage Monitor: As Market Gradually Shifts To Higher Rates, Latest Data Identifies Possible Refinance Tipping Point

Date 02/07/2024

• According to ICE Mortgage Technology data and analytics, as of May, 24% of mortgage holders had current interest rates of 5% or higher, up from 10% two years ago
• Four million loans originated since 2022 have rates of 6.5% or higher – 1.9M at 7%+ – providing modest opportunity for growth in the number of mortgage holders with incentive to refinance as rates ease
• An average of ~240K mortgages sit in each 1/8th of a percent rate band from 7-7.625% providing only modest increases to the number of in-the-money mortgages as those loans gain refinance incentive
• There’s a spike of 690K loans with rates just below 7%, driven in part by borrowers buying down their rates for the comfort of an interest rate that starts with a 6, which could be a tipping point to more meaningful, albeit still modest, refi activity as those borrowers gain incentive to refinance
• The VA share of rate/term refi activity experienced a noticeable upswing in recent weeks, accounting for more than 30% of recent rate locks, according to ICE originations data, up from less than 10% last year
• The average VA refinance borrower is early into their 30-year term (average prior loan age of ~1 year) and benefitting from a 1pp cut in their first lien mortgage rate, for an average savings of $230 per month
• Refinance retention hit its highest level in 18 months in Q1, driven in part by a tripling of rate/term retention – from 15% in Q4 to 46% in Q1 – among borrowers refinancing their VA and FHA loans

SYS-DAT Lists On Euronext STAR Milan

Date 02/07/2024

• Ninth admission of 2024 on Borsa Italiana’s Markets 

• 25th listing on Euronext in 2024

• The company raised €36.9 million 

• The market capitalisation at IPO is €103 million

CME Group Reports Record June And Q2 2024 Volumes, Reaching New Highs Across Multiple Asset Classes

Date 02/07/2024

• Record June ADV of 25.3 million contracts, up 8% year-over-year
• Record Q2 ADV of 26 million contracts, with growth in all asset classes
• Record June and Q2 ADV in U.S. Treasury futures and options
• All-time monthly and quarterly records for Agricultural products
• Record Q2 international ADV of 7.8 million contracts

Nasdaq Welcomes 66 IPOs In The First Half Of 202

Date 02/07/2024

• Featured the largest U.S. company IPO and switch
• Nasdaq IPO Pulse Index signals positive outlook for remainder of 2024

SIX And Avaloq Partner To Simplify Financial Instrument Valuation

Date 02/07/2024

SIX is delighted to launch today the Independent Valuation Service for financial instruments, which was co-created with Avaloq based on a strategic partnership. The initiative addresses international financial markets’ need for end-of-day product valuations from an independent source. This facilitates client reporting, risk management, and continuous benchmarking.