News Centre

Euronext Announces Volumes For August 2023

Date 07/09/2023

Euronext, the leading pan-European market infrastructure, today announced trading volumes for August 2023.

MIAX Exchange Group - Moment Of Silence On Monday, September 11, 2023

Date 07/09/2023

Please be advised the MIAX Exchanges will observe one minute of silence at 9:20 A.M. Eastern on Monday, September 11, 2023 to honor 9/11 victims, survivors, and their families.

Remarks Of CFTC Commissioner Pham To Keynote At The Cato Institute’s “Staying Ahead Of The Curve: Crypto Regulation And Competitiveness” Conference

Date 07/09/2023

Sterling Trading Tech Accelerates Its Global OMS Growth, Industry Veteran Mike Baradas Leads Effort

Date 07/09/2023

Sterling Trading Tech (STT), a leading provider of trading technology including a proprietary order management system, a risk and margin system, and trading platforms for the capital markets worldwide, announced today the appointment of industry veteran Michael Baradas as OMS Product Manager.

Joint Statement Of The IMF Managing Director And Of The World Bank President

Date 07/09/2023

Kristalina Georgieva, Managing Director of the International Monetary Fund, and Ajay Banga, President of the World Bank issued today a joint statement:

“The world confronts significant economic challenges, the existential threat of climate change as well as a digital transition, all in the context of more frequent shocks, high debt levels, limited policy space in many countries and rising geopolitical tensions. Well-designed and appropriately sequenced policies are critical to help accelerate growth, alleviate policy trade-offs, and support the green and digital transitions. The Bretton Woods institutions have a critical role to play to help member countries address the challenges and leverage the opportunities, working closely together and with partners."

BIS: Margins, Debt Capacity, And Systemic Risk

Date 07/09/2023

We lay out a stylised accounting framework for system-wide debt capacity, when debt serves both as an obligation of the borrower, and also as the collateral pledged by the lender to secure additional funding. Our focus is on fluctuations in margins and leverage. Changes in margin (and the corresponding fluctuations in leverage) are reflected in the fluctuations in the balance sheet size of market participants and in the financial system's broader risk-taking capacity. A sharp increase in margins, especially after a protracted period of thin margins, will tighten financial conditions for the whole system. We use our framework to provide a perspective on the liquidity imbalances that rocked financial markets in March 2020, amid the uncertainty of the Covid-19 pandemic.

Statement Of CFTC Commissioner Kristin N. Johnson Regarding CFTC Consent Order Imposing $1.7 Billion In Restitution Against South African Commodity Pool Operator

Date 07/09/2023

Today, the Commodity Futures Trading Commission (CFTC or Commission) announced the entry of a consent order against Mirror Trading International Proprietary Limited (MTI) by the Hon. David A. Ezra of the United States District Court for the Western District of Texas. MTI and its CEO, Cornelius Johannes Steynberg, engaged in an international multi-level marketing scheme by which they solicited and accepted nearly 30,000 bitcoin from at least 23,000 people located in the U.S. for participation in a commodity pool that purportedly traded retail foreign currency on a leveraged, margined, and/or financed basis. MTI misappropriated virtually all of the money instead. The order imposes restitution of over $1.7 billion against MTI, and effectively concludes a case that the CFTC filed in June 2022.

Canadian Securities Administrators Release Year In Review

Date 07/09/2023

The Canadian Securities Administrators (CSA) today published its consolidated Year in Review. This report highlights the progress the CSA has made between July 1, 2022, and June 30, 2023, towards fulfilling its mandate to improve, coordinate and harmonize regulation of the Canadian capital markets and achieving the strategic goals outlined in its 2022-2025 Business Plan. 

BIS: The Oracle Problem And The Future Of DeFi

Date 07/09/2023

Key takeaways

• Crypto-based decentralised finance (DeFi) uses "oracles" to import real-world data into blockchain environments for use in smart contracts.
• Whether oracles can truly adhere to the complete decentralisation ethos of crypto is debatable. Even if feasible in practice, striving for the ideal of full decentralisation leads to complex consensus protocols that further erode blockchain efficiency.
• While introducing some degree of centralisation in oracles might boost efficiency, it also means adding trusted parties to a system designed to be trustless. As a result, crypto-based DeFi is likely to remain the preserve of cryptoassets only, rather than being used for real-world assets.

CFTC: Federal Court Orders South African Company To Pay Over $1.7 Billion In Restitution For Forex Fraud - This Action Resolves The CFTC’s Largest Fraud Scheme Case Involving Bitcoin

Date 07/09/2023

The Commodity Futures Trading Commission today announced Judge David A. Ezra of the U.S. District Court for the Western District of Texas entered a consent order against Mirror Trading International Proprietary Limited (MTI) on September 6, finding it liable for fraud in connection with retail foreign currency (forex) transactions, fraud by a commodity pool operator (CPO), registration violations, and failure to comply with CPO regulations. MTI is a company currently in liquidation in the Republic of South Africa.