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Statement Of CFTC Commissioner Christy Goldsmith Romero In Support Of Holding Banks Accountable For Widespread Use Of Personal Text Messaging And/Or Whatsapp To Evade Regulatory Oversight - CFTC Enforcement Action Against Wells Fargo, BNP Paribas, Societe Generale, And Bank Of Montreal

Date 08/08/2023

I support this enforcement action against a Wall Street bank (Wells Fargo) and a group of large foreign banks (BNP Paribas and Societe Generale, both headquartered in France with U.S. registered brokers or dealers and Bank of Montreal, headquartered in Canada), as another victory in holding banks accountable for their pervasive use of unauthorized communication methods, like private texts and in some cases Whatsapp, violating the law and evading regulatory oversight requirements.  Together with our previous offline communications enforcement actions, the Commission has levied over $1 billion in penalties against 18 Wall Street institutions and large foreign banks, sending a zero tolerance message to those who seek to evade regulatory oversight.  This is combined with $1.5 billion in penalties from the SEC, for a total of more than $2.5 billion in penalties.

ESMA Publishes Latest Edition Of Its Newsletter

Date 08/08/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter.

Statement Of CFTC Commissioner Kristin N. Johnson Regarding The CFTC’s Reaching Over $1 Billion In Civil Monetary Penalties Against Bank-Affiliated Entities For Employees’ Offline Communications

Date 08/08/2023

Today, the Commodity Futures Trading Commission (CFTC or Commission) issued a series of orders settling charges against swap dealers and their affiliated futures commission merchants (Bank-Affiliated Entities).  According to the CFTC’s investigation, employees at the Bank-Affiliated Entities failed to comply with CFTC recordkeeping requirements, as well as firm-wide internal recordkeeping policies.  The investigation also found that managers failed to diligently supervise their employees’ compliance with recordkeeping obligations.

Tehran Stock Exchange Bulletin - July 2023

Date 08/08/2023

Click here to download Tehran Stock Exchange's monthly bulletin.

London Stock Exchange Group: Publication Of Offering Circular

Date 08/08/2023

The following offering circular has been approved by the Financial Conduct Authority and is available for viewing:

Offering circular relating to the London Stock Exchange Group plc, LSEGA Financing plc, LSEG Netherlands B.V. and LSEG US Fin Corp. £4,000,0000,000 Euro Medium Term Note Programme dated 8 August 2023.

MarketAxess To Acquire Algorithmic Trading Provider Pragma - Acquisition To Accelerate Development Of Quantitative Execution Algorithms And Data-Driven Analytics For Fixed-Income

Date 08/08/2023

MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, has entered into a definitive agreement to acquire Pragma, a quantitative trading technology provider specializing in algorithmic and analytical services in equities, FX and fixed-income.

The EBA's Recent Mystery Shopping Exercise Shows The Value This Tool Adds To The Supervisory Tasks Of National Authorities

Date 08/08/2023

• The exercise demonstrates the added value that mystery shopping can bring as a complementary tool to national competent authorities’ conventional supervisory actions and yields information and insight into the conduct of financial institutions that is not readily available through other means.
• Mystery shopping allows national competent authorities to obtain greater insight into the conduct of financial institutions, which in turn allows them to take corrective actions to better comply with applicable requirements, thus eventually enhancing the protection of consumers.
• This publication is the EBA’s fourth and final step in the fulfilment of its new mandate to coordinate mystery shopping activities of national competent authorities.

Provenir Unveils New London Office In Response To Continuous Growth In The UK - The Company’s London Team Grew By 138% In The Last 12 Months As Provenir Sees Strong Demand For Its AI-Powered Risk Decisioning Software In The British Market

Date 08/08/2023

Provenir, a global leader in AI-powered risk decisioning software, today announced the relocation of its London office to a larger facility at 76 Charlotte St. Fitzrovia W1T 4QS to accommodate its expanding team. Over the past 12 months, Provenir has experienced a remarkable 138% growth in its London team, owing to the continuous acquisition of new customers in the UK and throughout Europe.

Tradeweb And LSEG’s FXall Collaborate tTo Launch FX Swap Workflow Solution For Local Currency Emerging Markets Bonds

Date 08/08/2023

Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has launched a new and innovative solution to help institutional investors trade Emerging Markets (EM) products more efficiently. Developed in collaboration with FXall - LSEG’s leading electronic platform for global currency products - Tradeweb’s FX Swap Workflow is a multi-asset digital solution linking trading workflows in local currency EM bonds and FX swaps through a single user interface (UI).

Spectrum Markets Sees Record First Half Trading Volumes In 2023, In Spite Of Q2 Dip

Date 08/08/2023

• Record high of 787m securitised derivatives traded in Η1 2023 vs. 657m in Η1 2022
• UniCredit Bank AG joined Spectrum in May, listing a range of products on the trading venue
• Number of available instruments on Spectrum has grown to nearly 18,000