Financial MarketsRSS
Frankfurst financial district

Industry wins one-year reprieve on initial margin rules

Around 1000 smaller financial firms have been granted another year by global standard-setters to comply with margin requirements for non-centrally cleared derivatives due to the Covid-19 fallout.

SFC takes action to ensure continued integrity of Hong Kong’s markets

Following extreme bouts of market volatility, the Hong Kong Securities and Futures Commission (SFC) said it is pursuing a flexible approach so that markets continue to function properly, while safeguarding market integrity and investor protection.

US Fereral Reserve

Covid-19 gives US dollar Libor new lease of life

The impact of the Covid-19 pandemic on the economy and banks has breathed new life into Libor with the US Federal Reserve being forced to use the rate for its emergency funding programme

Trading floor

Fairweather market-makers push liquidity risk to buy side

Bouts of liquidity shortages in key capital markets, such as in US Treasuries, has seen some in the industry call for a rethink of rules governing markets and their participants

New York state steps forward with solutions to legal issues around Libor transition

A proposal by the New York state legislature to diffuse the legal uncertainty and adverse economic impacts on the move to alternative interest rates has been released by the Alternative Reference Rates Committee (ARRC).

ESMA delays tick-size regime for SIs

National competent authorities should not prioritise enforcing tick-size rules related to trading by systematic internalisers (SIs), the European Securities and Markets Authority (ESMA) said in a statement.

Michael Spellacy

Libor reforms are an opportunity for banks to become more client centric

Regulatory demands to phase Libor out of the global financial system has been one of the toughest challenges for banks, yet this could present a silver lining for those willing to take the task head-on

PBoC readying new laws to launch digital currency

The People’s Bank of China (PBoC) is a step closer to launching a central bank digital currency (CBDC) having completed, with the help of private companies, many of the technical functions to support it. 

NYSE covid-19

Extreme volatility brings liquidity issues back to the forefront

The markets mostly functioned well during the recent extreme market volatility, but liquidity was highlighted as an issue suggesting that a number of rules may need to be revisited 

CLO market faces stress in the face of corporate downgrades

The market for collateralised loan obligations (CLOs) could be about to face havoc due to an unprecedented number of credit downgrades sweeping through the leveraged loan market.