News Centre

Securities Commission Malaysia Grants M-REITs Temporary Increase In Gearing Limit

Date 12/08/2020

The Securities Commission Malaysia (SC) announced today that it will temporarily increase the gearing limit for Malaysian real estate investment trusts (M-REITs) from 50% to 60%, effective immediately, until 31 December 2022.

NZX Fully Operational - Announcement Re COVID-19

Date 12/08/2020

Following the Government’s announcement on 11 August 2020 that from midday today Greater Auckland City will go into COVID-19 Alert Level 3 and the rest of New Zealand to Level 2, NZX confirms that its markets – as an essential service – will remain fully operational.

New Zealand Financial Markets Authority: Guidelines For Financial Services Businesses And Staff Under COVID-19 Alert Level 2

Date 12/08/2020

Following the government announcement, for Financial Services, we will be moving to COVID-19 Lockdown level 2 at 23:59, 13 May. Until then, we remain at Level 3. Level 2 is about reducing the risk of transmission.

Nasdaq Announces End-Of-Month Open Short Interest Positions In Nasdaq Stocks As Of Settlement Date July 31, 2020

Date 11/08/2020

At the end of the settlement date of July 31, 2020, short interest in 2,455 Nasdaq Global Market^SM securities totaled 7,932,329,822 shares compared with 8,029,866,866 shares in 2,445 Global Market issues reported for the prior settlement date of July 15, 2020. The end-of-June short interest represent 2.75 days average daily Nasdaq Global Market share volume for the reporting period, compared with 2.71 days for the prior reporting period.

B3: Individual Investors Now Have Access To Shares Of Companies Listed Abroad

Date 11/08/2020

Any type of investor can buy shares of companies listed abroad through unsponsored BDRs traded on B3, Brazil’s exchange. The flexibilization of this rule, which was recently approved by the Brazilian Securities & Exchange Commission (CVM), also opens the possibility for Brazilian companies that are publicly traded outside Brazil to trade their shares here.

NYSE Group Consolidated Short Interest Report

Date 11/08/2020

NYSE today reported short interest as of the close of business on the settlement date of July 31, 2020.

Federal Reserve Board Announces Revised Pricing For Its Municipal Liquidity Facility

Date 11/08/2020

The Federal Reserve Board on Tuesday announced revised pricing for its Municipal Liquidity Facility (MLF). The revised pricing reduces the interest rate spread on tax-exempt notes for each credit rating category by 50 basis points and reduces the amount by which the interest rate for taxable notes is adjusted relative to tax-exempt notes.

FIA July 2020 SEF Tracker

Date 11/08/2020

Osgoode Investor Protection Clinic Partners With Pan-Canadian Self-Regulator, IIROC

Date 11/08/2020

The Investor Protection Clinic (IPC) at York University’s Osgoode Hall Law School – the first clinic of its kind in Canada – has entered into a partnership with the Investment Industry Regulatory Organization of Canada (IIROC) in a joint effort to meet a critical need in the community for free legal services for vulnerable, harmed retail investors.

BIS: Export Survival And Foreign Financing

Date 11/08/2020

Summary

Focus

Foreign financing provides external finance and better financing conditions to exporters in the developing world. Through this channel, it increases their export survival rates and could therefore foster economic development.

Contribution

Export survival rates are smaller in developing countries than in advanced economies, and this explains a large part of the long-term export growth differential between them. However, very little has been said about whether foreign financing can increase export survival, through the provision of external finance and better financing conditions.

We address this issue for a developing country, Argentina, by using a unique firm-level dataset that contains rich information on the domestic and foreign financing of exporting firms. We show that exporters tend to borrow in countries in which interest rates were smaller than in Argentina, suggesting that monetary and liquidity conditions were easier in these economies. Then, we employ standard empirical techniques used in the survival literature, specifically the probit random effects and the clog-log setups, to test whether foreign financing increases export survival. Finally, we run robustness check analysis with an Instrumental Variable empirical setup.