News Centre

ISDA derivatiViews: Updating Term SOFR

Date 27/04/2023

It’s just 65 days until the final five US dollar LIBOR settings cease to exist or become non-representative. At that point, trillions of dollars of LIBOR-linked loans and other cash instruments will switch to fallbacks referencing term SOFR, potentially adding to demand for term SOFR hedges. This could push dealers closer to internal limits on the amount of term SOFR risk they can take on, eventually restricting their ability to offer term SOFR derivatives to end users. In response, the Alternative Reference Rates Committee (ARRC) has refined its term SOFR scope of use recommendations, introducing another avenue for dealers to lay off their risk, while continuing to recommend that overall use of term SOFR remains limited.

BIS: Corporate Governance Principles For Banks - Executive Summary

Date 27/04/2023

In July 2015, the Basel Committee on Banking Supervision published its updated corporate governance principles for banks. The 13 revised principles provide a framework within which banks and supervisors should operate to achieve robust and transparent risk management and decision-making. Sound corporate governance of banks can promote public confidence and uphold the safety and soundness of the banking system.

BIS: The Foreign Exchange Market

Date 27/04/2023

Summary

Focus

The global foreign exchange (FX) market, the largest financial market in the world by trading volume, has remained opaque as trading takes place over-the-counter (OTC). With the FX market under light regulatory oversight in most countries, the structure and operation of the market have been driven by commercial interests and the market participants' needs. We provide an overview of the evolution of the FX spot market's size and of its trading environment from the time of the inception of the first electronic brokers in the 1990s through 2022. Algorithmic trading and non-bank intermediation have now become prominent features of the FX market.

Bitfinex Launches Revamped Paper Trading Platform With 18 New Spot Trading Pairs

Date 27/04/2023

Bitfinex (https://www.bitfinex.com/), a state-of-the-art digital token trading platform, announced today the launch of its revamped paper trading platform, with 18 spot and 16 perpetual trading pairs, including BTC, ETH, SOL and MATIC.

Tradeweb Reports First Quarter 2023 Financial Results

Date 27/04/2023

Tradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today reported financial results for the quarter ended March 31, 2023.

TMX Group CEO John McKenzie To Present At The Barclays Americas Select Franchise Conference

Date 27/04/2023

TMX Group Chief Executive Officer John McKenzie will present at the Barclays Americas Select Franchise Conference on May 9, 2023 at 8:30 - 9:10 a.m. ET.

BIS: Principles For Sound Management Of Operational Risk (PSMOR) - Executive Summary

Date 27/04/2023

In March 2021, the Basel Committee on Banking Supervision (BCBS) published its Revisions to the Principles for the Sound Management of Operational Risk (PSMOR). The principles were introduced in 2003 and subsequently revised in 2011 to incorporate the lessons from the Great Financial Crisis. The 2021 revisions resulted from a 2014 review that indicated that several principles had not been adequately implemented and did not sufficiently capture certain important sources of operational risk.

BIS: Proportionality In Banking Supervision - Executive Summary

Date 27/04/2023

The Basel Framework is the full set of standards for the oversight of internationally active banks (IABs) in member jurisdictions of the Basel Committee on Banking Supervision (BCBS). This framework includes the Core Principles for Effective Banking Supervision (BCPs) and regulatory (Pillar 1), supervisory (Pillar 2) and disclosure (Pillar 3) standards. Although the BCPs are universally applicable, the remaining elements of the Basel Framework (the three pillars) are the standard for IABs.

Exchange Data International Introduces Email Alerts For The Worldwide Corporate Actions Service

Date 27/04/2023

Exchange Data International (EDI), a leading financial and economic data provider, has introduced Corporate Action Alert Files to accompany their Worldwide Corporate Actions Service for upcoming effective and ex-dates.

A Credit Market That Delivers For Consumers, Speech By Roma Pearson, UK Financial Conduct Authority Director Of Consumer Finance, Delivered At Credit Summit 2023

Date 27/04/2023

Highlights

• We want a well-functioning credit market where customers are treated fairly, supported if they get into financial difficulty and are equipped with the information they need to make good decisions
• We recognise that, for some firms, the Consumer Duty requires a significant amount of work to get it right. They should focus on the areas that will have the biggest impact on outcomes for customers.
• We want consumers of newly regulated products to receive an appropriate degree of protection and the broader regulatory framework for credit to remain fit for purpose.