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Testimony Of J. Christopher Giancarlo Acting-Chairman, Commodity Futures Trading Commission Before The U.S. House Of Representatives Committee On Appropriations Subcommittee On Agriculture, Rural Development And Related Agencies

Date 08/06/2017

As Prepared for Delivery

Good morning, Chairman Aderholt, Ranking Member Bishop and members of the Subcommittee. Thank you for the opportunity to testify on the Commodity Futures Trading Commission (“Commission” or “CFTC”) FY 2018 Budget Request.

For more than 100 years, farmers and ranchers have used listed derivatives markets to hedge their costs of production and delivery price so that Americans can always find plenty of food on grocery store shelves. But derivatives markets are not just beneficial for agricultural producers. They influence the price and availability of heating in American homes, the energy used in factories, the interest rates borrowers pay on home mortgages and the returns workers earn on their retirement savings.

FINRA Issues Research On Securitized-Asset Liquidity

Date 08/06/2017

The Financial Industry Regulatory Authority (FINRA) Office of the Chief Economist today posted a new Research Note on liquidity in structured products, complementing an earlier report on corporate-bond liquidity.

HKEX: Margin Rates For The Hong Kong And China Gas Company Limited After Capital Adjustment

Date 08/06/2017

As previously advised in the circular (Ref.: MO/DT/037/17) dated 17 March 2017, capital adjustments as a result of the bonus issue will be made to the positions of The Hong Kong and China Gas Company Limited (“HKG”) Futures Contracts which exist after the market close on 8 June 2017, i.e. the business day immediately before 9 June 2017.

State Street Provides Market Commentary On European Central Bank’s Monetary Policy Meeting

Date 08/06/2017

In reaction to the European Central bank (ECB) meeting today, Timothy Graf, head of macro strategy at State Street Global Markets; and Antoine Lesné, EMEA head of ETF strategy at SPDR ETFs, part of State Street Global Advisors, offer their views.

ECB Monetary Policy Decisions

Date 08/06/2017

At today’s meeting, which was held in Tallinn, the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases.

The UAE's Securities & Commodities Authority Approves The First Clearing Member

Date 08/06/2017

The Securities & Commodities Authority (SCA) issued to Emirates NBD the approval required to pursue the clearing activity and act as a “General Clearing Member" in the local financial markets. Emirates NBD is the first entity to receive this approval in the financial markets in the United Arab Emirates after meeting the conditions and requirements set by the SCA.

Hong Kong's Securities And Futures Commission: Court Of Appeal Upholds SFAT's Ruling On SFC's Disciplinary Action Against Moody’s Over Red Flags Report

Date 08/06/2017

The Court of Appeal has dismissed an appeal by Moody’s Investors Service Hong Kong Limited (Moody’s) against the Securities and Futures Appeals Tribunal’s (SFAT) decision to uphold the Securities and Futures Commission’s (SFC) disciplinary action in relation to a special comment report published by Moody’s in 2011.  

Warsaw Stock Exchange Monthly Statistics For May 2017

Date 08/06/2017

Warsaw Stock Exchange Monthly Statistics for May 2017 is now available:

NSD Conducts DVP Settlement Via Correspondent Account With The Bank Of Russia

Date 08/06/2017

National Settlement Depository (NSD), Russia’s central securities depository, has expanded settlement opportunities for its clients: it has conducted the first DVP transaction via a correspondent account with the Bank of Russia.

BETTER FINANCE Welcomes The Capital Markets Union Mid-Term Review Report And Urges The Commission To Make Progress On Fostering Retail Investment In Capital Markets

Date 08/06/2017

There is an abundance of investable private capital in Europe, with households desperately looking for positive real returns on their long-term savings in an ongoing climate of low interest rates, high fees, high complexity of investment products and financial repression. BETTER FINANCE fully supports the CMU initiative as it places EU citizens as savers and individual investors at its heart and is aimed at strengthening the link between their savings and the real assets into which their funds are deployed, as well as providing better returns.