News Centre

Financial Stability Board Report Sets Out Need To Reduce Risks To Financial Stability From LIBOR Transition

Date 18/12/2019

The Financial Stability Board (FSB) today published its annual progress report on implementation of recommendations to reform major interest rate benchmarks. The report emphasises that the continued reliance of global financial markets on LIBOR poses risks to financial stability and it calls for significant and sustained efforts by the official sector and by financial and non-financial firms across many jurisdictions to transition away from LIBOR by end-2021.

SEC Adopts Risk Mitigation Techniques For Uncleared Security-Based Swaps

Date 18/12/2019

The Securities and Exchange Commission today voted to adopt rules requiring the application of risk mitigation techniques to portfolios of uncleared security-based swaps.  New Rules 15Fi-3, 15Fi-4, and 15Fi-5 establish requirements for registered security-based swap dealers and major security-based swap participants (“SBS Entities”) to:

Federal Trade Commission Chairman Simons Announces Senior Appointments In Bureau Of Competition

Date 18/12/2019

Federal Trade Commission Chairman Joseph Simons has made two appointments to the Bureau of Competition’s senior leadership team, effective today. Simons announced that, with the approval of the Federal Trade Commission, Ian Conner will assume the position of Bureau Director effective December 20, 2019. Simons also announced that Daniel Francis will be appointed Deputy Director and will serve with current Deputy Director Gail Levine.

Federal Reserve Board Appoints Beth Anne Wilson As Director Of The Division Of International Finance, Effective February 1

Date 18/12/2019

The Federal Reserve Board on Wednesday announced the appointment of Beth Anne Wilson as director of the Division of International Finance, effective February 1. Wilson, currently a deputy director of the division, will succeed Steven B. Kamin, who will serve as a senior adviser to the division before retiring at the end of April.

MIAX: Business Continuity And Disaster Recovery Plans Testing - Member Designation Standards

Date 18/12/2019

As required by Regulation Systems Compliance and Integrity and MIAX Options Rule 321, which is incorporated by reference into both the MIAX PEARL and MIAX Emerald Exchange Rule Books, and thus applicable to Members of both Exchanges, certain Members of the MIAX Exchanges will have mandatory participation requirements in the annual SIFMA Business Continuity Planning Disaster Recovery (“BC/DR”) test.

The EBA Calls On Banks To Consider Long-Term Horizons In Their Strategies And Business Activities

Date 18/12/2019

• The EBA highlights need to promote long-term approaches.
• A robust regulatory prudential framework is a pre-condition for long-term investments.
• Disclosure of long-term risks and opportunities should be enhanced.

FSB Report Sets Out Need To Reduce Risks To Financial Stability From LIBOR Transition

Date 18/12/2019

The Financial Stability Board (FSB) today published its annual progress report on implementation of recommendations to reform major interest rate benchmarks. The report emphasises that the continued reliance of global financial markets on LIBOR poses risks to financial stability and it calls for significant and sustained efforts by the official sector and by financial and non-financial firms across many jurisdictions to transition away from LIBOR by end-2021.

Bank Of England Press Conferences Audio Feed

Date 18/12/2019

The Bank of England has issued the following statement:

“Following concerns raised with the Bank, we have recently identified that an audio feed of certain of the Bank press conferences - installed only to act as a back-up in case the video feed failed - has been misused by a third party supplier to the Bank since earlier this year to supply services to other external clients. This wholly unacceptable use of the audio feed was without the Bank’s knowledge or consent, and is being investigated further."

Commodity Prices Welcome A Trade War De-Escalation - The US-China "Phase One" Trade Deal Reduces Tensions And Improves The Mood In Markets, William May, Senior Economist, IHS Markit

Date 18/12/2019

Commodity prices, as measured by the IHS Materials Price Index (MPI), rose 1.6% last week, in response to several pieces of positive news on trade. Most important was a “phase-one” agreement reached between the US and China that promises to at least partially roll-back tariffs. In other good news, there was an agreement on the new US-Mexico-Canada trade pact and clarity on Brexit following Prime Minister Johnson’s election victory. The UK election result makes the UK’s exit from the European Union an almost certainty and will most likely move-up the leaving date.

MIAX Exchange Group - Christmas And New Years Holiday Schedule

Date 18/12/2019

Please be advised the MIAX Exchanges will have an abbreviated trading session on Tuesday, December 24, 2019.  All Option Classes will close 3 hours early.