News Centre

Evolving Our Enforcement Approach To Protect And Grow Our Markets - Speech By Therese Chambers, UK Financial Conduct Authority, Joint Executive Director Of Enforcement And Market Oversight, Delivered At The Market Abuse And Market Manipulation Summit

Date 27/02/2024

Key messages:

• Our enforcement strategy will evolve to make sure we have the maximum impact in deterring misconduct and crime.
• Enforcement is just one of our tools – industry cooperation, assertive supervision and intervention powers are also key in dealing with harm.
• We must speed up investigations to thwart criminals and send a signal to markets and consumers.
• We need industry and regulators pulling together to stop opportunistic market abuse and its corrosive effects.

The Importance Of Counterparty Credit Risk Management, Federal Reserve Vice Chair For Supervision Michael S. Barr, At Basel Committee On Banking Supervision-Federal Reserve Counterparty Credit Risk Conference, New York, New York

Date 27/02/2024

Thank you for the opportunity to be part of this important discussion on counterparty credit risk.1 It's particularly appropriate for the Federal Reserve Bank of New York to host these discussions. Twenty-five years ago, New York Fed officials convened the creditors of Long-Term Capital Management (LTMC) to facilitate the firm's stabilization. LTCM was a heavily leveraged hedge fund that had borrowed more than $125 billion from its counterparties and had derivatives estimated at over $1 trillion in notional value. Stabilizing LTCM narrowly averted significant financial stress, an event I remember vividly from my vantage point as a Treasury official at the time. That event prompted deep reflection on both the risks presented by nonbanks such as hedge funds and the state of counterparty credit risk management practices by banks that finance their activities.

Foreign Currency Reserves 2024 - Bank Of England Market Notice 27 February 2024

Date 27/02/2024

As part of the monetary policy framework introduced by the Chancellor of the Exchequer in 1997, the Bank of England holds its own foreign exchange reserves in support of its monetary policy objective. These reserves are separate from the Government’s own foreign exchange reserves, which the Bank manages as the Treasury’s agent.

FIS Acquires Torstone Technology

Date 27/02/2024

FIS has made a strategic move by acquiring Torstone Technology, a specialized SaaS post-trade platform, solidifying its position as a leading fintech player.

Remarks By US Secretary Of The Treasury Janet L. Yellen At Press Conference Ahead Of The G20 Finance Ministers And Central Bank Governors Meetings In São Paulo, Brazil

Date 27/02/2024

Thank you to everyone for being here today and to Minister Haddad for hosting these meetings. They’re an opportunity to advance collective action to further bolster the global economy and to continue addressing the challenges we face. Before I take your questions, I’ll speak to the priorities that I’ll be focused on over the next few days here in Brazil.

UK Financial Conduct Authority Launches Campaign To Highlight The Benefits Of Switching To Savers

Date 27/02/2024

Consumers will be encouraged to shop around for a better savings rate in a new campaign launched today by the City regulator, the Financial Conduct Authority (FCA).

nuam Exchange And Vermiculus Financial Technology Establish Partnership To Create Technological Core For Central Counterparty Clearing Houses In Chile, Colombia And Peru - Construction Of An Integrated Cloud-Native Clearing System For The Three Clearing Houses Have Begun, While Progress Is Being Made In Parallel To Create The Clearing House In Peru

Date 27/02/2024

nuam exchange, the entity resulting from the integration of the Lima, Santiago and Colombia stock exchanges, announced a partnership with Vermiculus Financial Technology, a technological solutions vendor for the financial industry, to implement a modern, flexible technological core for the Central Counterparty Clearing Houses (CCP) in Chile, Colombia and Peru.

Frank Seibold Joins Pirum To Accelerate Americas Growth - Pirum Appoints Frank Seibold As Head Of Commercial Development, Americas, To Accelerate The Expansion Of Its Business In The Region

Date 27/02/2024

Pirum Systems, a global leader in automated post-trade services, has appointed Frank Seibold as Head of Commercial Development, Americas. He joins the global fintech's New York office and will work alongside Matthew Lilien, Head of Sales North America, as the firm continues to scale its business in this important growth region. 

Ignacio Corral Joins GCEX As UK Operations Continue To Grow

Date 27/02/2024

Ignacio Corral, former Senior Associate at the FCA, has joined GCEX (GCEX Group) as the digital prime brokerage’s dedicated UK Compliance Officer. His appointment reflects the growth of GCEX’s UK-based operations which are regulated by the FCA.

Europex: Gas Storage Neutrality Charges Fragment The European Internal Energy Market And Endanger Security Of Supply

Date 27/02/2024

After a “gas storage neutrality charge” was introduced at crossborder Interconnection Points (IPs) in Germany in October 2022, the idea is starting to gain momentum in other EU Member States. This is a perilous development and dangerous trend for European natural gas and the Internal Energy Market as a whole: it is already undoing and risks to further undo market integration, endangers security of supply and ultimately leads to higher energy prices for European consumers. Europex urges decisionmakers and regulators to end “neutrality charges” (NCs) as they fragment markets, go against the principle of energy solidarity and raise serious questions as to their compatibility with EU law.