News Centre

Moscow Exchange Risk Parameters Change On FX And Precious Metals Market

Date 14/09/2018

CCP NCC sets the following risk parameters on FX and precious metals market starting from September 17, 2018:

The Financial Conduct Authority Bans Former Deutsche Bank Trader, Christian Bittar

Date 14/09/2018

The Financial Conduct Authority (FCA) has banned Christian Bittar from performing any function in relation to any regulated financial activity.

Conditions Of German Life Insurers Despite Homage To Solvency Under Tension - Analysis Of Solvency Reports By The German Association Of Insured Reveals Severe Problems

Date 14/09/2018

The German Association of Insured (BdV) together with Carsten Zielke, insurance analyst (Zielke Research), again analyzed the Solvency and Financial Conditions Reports (SFCR) with regard to the stability and safeness of German life insurers. Axel Kleinlein, spokesman of BdV, stresses in his conclusion: “We observe the veneration of solvency. But high solvency ratios alone are not sufficient for carelessness.” Higher ratios of capital requirements do mostly not rely on sustainable measures and are exaggerated with regard to other parameters. “Only the consideration of various parameters and their mutual interaction enable a precise analysis of the companies”, Zielke underlines. Positively BdV and Zielke assess that the solvency reports are more understandable than last year. “Many companies proved their willingness to learn and published significantly more transparent reports”, Kleinlein states.

Payment, Clearing And Settlement Operators Meet On Global Cyber Resilience

Date 14/09/2018

Key global and regional payment, clearing and settlement operators met at a roundtable in Paris on Friday to discuss cyber security and the resilience of financial market infrastructures (FMIs) and the wider market ecosystem. 

The Future Of Work - Speech Given By Mark Carney, Governor Of The Bank Of England

Date 14/09/2018

I am grateful to Clare Macallan and Jennifer Nemeth for their assistance in preparing these remarks. I would also like to thank Will Abel, Andy Haldane, Carsten Jung, Rana Sajedi and Greg Thwaites for the background research and analysis they conducted.

Deutsche Börse Group: Business Indicators For August 2018

Date 14/09/2018

The attached Excel file 'Major business figures' contains historic business indicators for the respective reporting segments.

Finansinspektionen Follows Closely The Developments At Nasdaq Clearing

Date 14/09/2018

Finansinspektionen has an ongoing dialogue with Nasdaq Clearing given that the company decided to declare a member in the firm’s commodity market in default. Finansinspektionen is also in contact with other affected authorities and organisations.

Nasdaq Statement Regarding Member Default

Date 14/09/2018

At Nasdaq, our primary focus is the protection of our clients and the integrity of our markets. With respect to the events of this week we want to remain transparent and provide the following details.

• On Tuesday, September 11, Nasdaq Clearing declared a member in default.
• The defaulted portfolio contained a large spread position between Nordic and German Power that was negatively impacted by extraordinary fluctuations in the spread. When the member no longer could meet the margin requirement due to the losses in the portfolio, Nasdaq Clearing had to declare the member in default.
• Our rules require that we then close out the portfolio as soon as possible to mitigate further risk of loss. Nasdaq data analysis concluded that the market movement was 17 times larger than the normal observed daily spread changes, which was confirmed by two external parties, and could be characterized as a true “Black Swan” event.
• The defaulting portfolio was closed out according to Nasdaq Clearing’s close-out procedures and has been fully contained. Within 48 hours all of the positions had been closed through an auction.
• However, the close out resulted in a loss for Nasdaq Clearing that exceeded the defaulting member’s collateral and default fund contribution. The loss meant that Nasdaq Junior Capital of EUR 7 million and a portion of the Commodity Member Default fund, amounting to EUR 107M needed to be utilized.   The utilization of the Default Fund impacted the 166 clearing member firms with capital contributions into the Default Fund on a pro-rata basis.

HKEX To Offer Meituan Futures And Options And Include Meituan On Key Lists

Date 14/09/2018

• Meituan Futures and Options to be introduced on 20 September
• Issuers can list Meituan derivative warrants when Meituan shares debut
• Meituan shares to be included in Designated Securities Eligible for Short Selling when they begin trading

Minutes Of The London FXJSC Meeting - 3 May 2018

Date 14/09/2018

The Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC), which is a forum for discussion of the wholesale foreign exchange market. The FXJSC is made up of market participants, infrastructure providers and the UK financial regulators.