Financial MarketsRSS

WFE defends exchanges’ data charging practices

Pricing practices by exchanges for data have been defended by the World Federation of Exchanges (WFE) in a report stating that there is no market failure on the issue and that they provide a very effective infrastructure.

David Strachan

UK interest rates swaps business haemorrhaging to US and EU

The City of London’s highly lucrative over-the-counter (OTC) derivatives market has come under assault from the US and EU with trillions of pounds of trading activity migrating out of the UK into those two jurisdictions in just March alone, according to a report by Deloitte and IHS Markit.

Nigerian notes

Nigeria’s repo markets poised for rapid growth pending regulatory go-ahead

Nigeria’s repo market is sitting at an inflection point in terms of liquidity and development pending regulatory approval for the country’s pension funds and insurance companies to get more deeply involved. 

Sam Theodore-Scope Ratings

Even ‘bank-friendly’ CBDCs could prove disruptive

Fiat currencies are not about to be displaced by private stablecoins or cryptocurrencies such as bitcoin and ether with the roll out of central bank digital currencies likely to safeguard against the inroads of these new forms of money. 

UK regulators looking to make ‘quick fixes’ to MiFID II

The UK authorities are pushing on in earnest with reforms to the UK’s financial regulatory framework with one of the latest missives involving some ‘quick fixes’ to the markets in financial instruments directive (MiFID) II as proposed by the Financial Conduct Authority (FCA).

Ralf Wintergerst

UK leads Europe on exploring the use of CBDCs

The UK is a leader in Europe and is fifth in the world in terms of paving the way for the use of an interbank central bank digital currency, said PwC in a report, which would be a form of digital cash.

Criminal investigation launched into BaFin’s conduct over Wirecard scandal

The difficulties related to the botched supervision of failed fintech firm Wirecard have worsened for the Federal Financial Supervisory Authority (BaFin) as it faces a criminal investigation, which will also look into whether the regulator’s staff engaged in illegal trades in the stock. 

CFLI report advises emerging market countries on climate finance

Investments in transitioning to cleaner energy fell 21% in emerging markets in 2020 while they rose 24% in their developed peers, prompting the Climate Finance Leadership Initiative (CFLI) to release a report on how developing countries can rekindle investment in that area.

Black swan

'Black swan' event possible if tough Libor legacy contracts not tackled

Congress needs to provide an “instruction manual” through legislation to deal with tough legacy financial contracts that will rely on the London interbank offered (Libor) beyond June 30, 2023, or risk a potential market disruptive event, the Bank Policy Institute (BPI) wrote in a blog post. 

Monetary Authority of Singapore

Singapore Libor transition plan “aggressive but achievable”

Singapore is poised to take the next step in transitioning its interest rate benchmark in April with a ban on issuing swap offer rates (SOR) cash products, as the city-state also sticks to its target to transition most SOR derivatives by end of the third quarter, 2021 - a plan which the country’s leading bank says “is aggressive but achievable”.