News Centre

Trading In City Of Moscow Green Bonds Begins On Moscow Exchange

Date 27/05/2021

On 27 May 2021, Moscow Exchange launched trading in the first issue of City of Moscow green bonds.

TMX Group CEO John Mckenzie To Present At The Virtual Deutsche Bank Global Financial Services & Fintech/Info Services Conference

Date 27/05/2021

TMX Group CEO John McKenzie will present at the virtual Deutsche Bank Global Financial Services & Fintech/Info Services Conference on Wednesday, June 2, 2021 at 12:35 p.m. – 1:10 p.m. ET.

FSB Europe Group Discusses Global Vulnerabilities And Addressing Risks Related To Money Market Funds And Climate Change

Date 27/05/2021

The Financial Stability Board (FSB) Regional Consultative Group (RCG) for Europe held a virtual meeting yesterday to discuss global and regional macroeconomic and financial market developments, and their potential impact on European economies.

FESE: The Issue Of Payment For Order Flow

Date 27/05/2021

Payment for order flow (PFOF) has become more and more widespread over the last years and has recently gained significant attention following the GameStop short squeeze in the US and related developments like the growth of discount brokerages. A PFOF arrangement is one in which a broker systematically routes its retail order flow to a single market maker, a systematic internaliser (SI) or other execution venue in return for a payment. PFOF is however detrimental for the investor as it may increase bid-ask spreads, distort competition, and make the price formation process less transparent and efficient. Although the broker is obliged to act in the best interest of its clients, it has an economic incentive to direct order flow to the execution venue that offers the highest payment to the broker. Consequently, the best execution duty of the broker gets compromised. This conflict of interest is systematic in the retail market and FESE believes that it is currently not appropriately addressed. Whilst in some Member States PFOF is banned, such as in the Netherlands, other Member States are less strict. This creates regulatory arbitrage opportunities in the EU.

Barclays Adds Streaming Firm Pricing To MarketAxess' Live Markets Order Book

Date 27/05/2021

MarketAxess Holdings Inc. (Nasdaq: MKTX) today announced that Barclays (NYSE: BCS) has committed to become a dedicated market maker and is actively contributing streaming prices for US investment grade corporate bonds to the MarketAxess Live Markets™ order book for institutional credit markets.

ESMA Consults On Synthetic Securitisations RTS And Amendments To STS Templates

Date 27/05/2021

The European Securities and Markets Authority (ESMA), the EU’s securities and markets regulator, published today a Consultation Paper (CP) on draft regulatory technical standards (RTS) implementing the amended Securitisation Regulation (SECR).

Sova Joins Ranks Of AFME

Date 27/05/2021

Sova Capital is now a full member of the Association for Financial Markets in Europe (AFME), a designation which enables the London-based broker to expand custody services for a number of Russian clients.

Bank Of England Executive Director And Financial Policy Committee Appointment

Date 27/05/2021

The Court of the Bank of England today appointed Sarah Breeden as Executive Director for Financial Stability Strategy and Risk (FSSR). Sarah will also become a member of the Financial Policy Committee (FPC).

Bursa Malaysia To Introduce A Pilot Market Making Program Aimed At Improving Liquidity And Price Efficiency Of Eligible Stocks

Date 27/05/2021

Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) will launch a Pilot Market Making Program (“PMMP”) on 1 June 2021. The PMMP aims to increase the liquidity and price efficiency of selected mid to large-cap stocks with low velocity (“Eligible Stocks”).

SET: mai-Listed Firms Report Q1 Net Profit Rise In All Industry Groups

Date 27/05/2021

• Q1 net profit jumped 601.3 pct  y-o-y to THB 2.51 billion
• Total sales up 2.1 pct y-o-y to THB 45.05 billion
• All industry groups saw net profit growth