News Centre

BIS: Insurance Regulatory Measures In Response To Covid-19

Date 23/04/2020

Highlights

• Currently, insurers are more likely to experience losses from financial market volatility than from higher insurance claims arising from Covid-19. Few insurance supervisors have seen a need to strengthen or adjust prudential requirements to insulate insurers from current financial market uncertainties.
• So far, authorities have responded mainly by taking measures to provide operational relief to insurers from regulatory and supervisory requirements so that they can continue providing insurance services. These measures will also help insurers to enhance risk monitoring of their Covid-19 financial exposures.
• Some authorities have set out expectations for insurers to conserve capital through prudent exercise of dividend and variable remuneration policies. The aim is to enhance their resilience against huge uncertainties from potential Covid-19 fallout. Other capital-related measures should relieve supervisory pressures and reduce the tendency of insurers to manage their investments in a procyclical manner. These measures include: extending the supervisory intervention ladder, triggering the countercyclical lever and recalibrating capital requirements.
• The far-reaching impact of Covid-19 calls for sustained vigilance by both supervisors and insurers. In the post-pandemic phase, the extraordinary measures currently warranted will need to be unwound through a carefully crafted exit strategy that preserves sound risk management practices and protects policyholders' interests.

Swiss Stock Exchange ETF Market Report: 1st Quarter 2020

Date 23/04/2020

Deutsche Börse AG: Release According To Article 40, Section 1 Of The WpHG [The German Securities Trading Act] With The Objective Of Europe-Wide Distribution - DWS Investment GmbH, Frankfurt am Main, Germany

Date 23/04/2020

Dissemination of a Voting Rights Announcement transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

World Alliance Of International Financial Centers: The Role Of Financial Centres In Driving Economic Growth

Date 23/04/2020

The funding needs of the world economy are greater than ever. They chiefly concern long-term financing in both developed and emerging countries. These pressing requirements particularly relate to technological disruptions, the energy transition and the fight against climate change, demographic change and social issues. According to the Global Infrastructure Hub, the financing gap for infrastructure alone amounts to $1.5 trillion per year. This is why blended finance must accompany public funding. As such, international financial centres – as networks of global and national players that contribute to the effective functioning of financial markets – are essential to meet the needs of the real economy and economic growth. Their commitment to supporting global economic transformation, fostering the combination of public and private funding, and contributing to meeting sustainable development goals, is crucial.

CFTC Provides Further Relief To Market Participants In Response To COVID-19

Date 23/04/2020

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) today announced that it has issued additional targeted no-action relief to futures commission merchants (FCMs) and introducing brokers (IBs) in response to the COVID-19 (coronavirus) pandemic.

Startupbootcamp FinTech Dubai Second Cohort Raises $2.8m And Signs Over 40 Proof Of Concepts In DIFC

Date 23/04/2020

• More than 50% growth in number of applications from 300 to 450 year-on-year
• Nearly fourfold increase in Proof of Concepts (PoCs) from nine to more than 40 year-on-year
• Diverse origin of the 10 start-ups each from 10 different countries in Europe, Asia, North America, Africa and Middle East
• Nine out of 10 start-ups choose DIFC as a stable and enabling long-term base to scale-up operations and benefit from easy access to the Middle East and North Africa

Qatar Stock Exchange: Official Business And Trading Hours During The Month Of Ramadan

Date 23/04/2020

Qatar Stock Exchange is pleased to announce that the official business hours during the month of Ramadan will be from 09:00am to 01:00pm as per QFMA instruction.

Egyptian Exchange: Trading Hours During The Holy Month Of Ramadan

Date 23/04/2020

The Egyptian Exchange (EGX) decided the time of trading session during the Holy month of Ramadan to be as follows:

First: The trading session of main market listed securities and SMEs market (NILEX); from 10:00 am to 1:30 pm, preceded by a discovery session at 9:30 am.

Euronext Strengthens Its Post-Trade Business With The Acquisition Of VP Securities, The Danish Central Securities Depository

Date 23/04/2020

• Euronext will acquire c.70% of VP Securities, the Danish CSD operator with more than €1.2tn of assets under custody and 16.6m securities settled in 2019, and opens an offer to all remaining shareholders
• The acquisition of VP Securities in Copenhagen significantly expands Euronext’s footprint in the Nordic region, with c.25% of revenues 2019 proforma[1] coming from the Nordic region, after previously acquiring Oslo Børs VPS and Nord Pool
• The transaction will double Euronext’s central securities depository business in size, further improving Euronext’s revenue mix and marking an important milestone towards Euronext’s strategic goal of building the leading European market infrastructure

World Alliance Of International Financial Centers: How Global Financial Centers Can Help Combat The COVID-19 Pandemic

Date 23/04/2020

Rarely has the world faced challenges such as today’s. Whatever comparison is drawn, COVID-19 and efforts to curb its spread are poised to inflict strain of historic proportions on the world’s economy and financial systems. Within just weeks, economic growth has ground to a halt and gone into reverse. The virus knows no borders, nor can economic actions be seen in splendid isolation. Wouldn’t it have been helpful had the world been prepared for such a crisis on this global scale? As this was not the case, responses have been uncoordinated, country-specific, and isolated as can be. Our economies could soon require as much intensive care as the worst affected patients. Where should we look for the right economic medicine under these new and unprecedented circumstances?