Hong Kong exchange unveils inaugural swap clearing service using HIBOR alternative

Hong Kong Exchanges and Clearing has launched the first clearing service using an alternative to the Hong Kong Interbank Offered Rate, or HIBOR, reflecting local regulatory efforts to nudge banks away from the old reference rate regime.

Financial Stability Board, Basel Committee call for smooth transition from LIBOR

Financial authorities should nail down rigorous plans to smooth the transition away from the world’s most widely used interest rate benchmark, two major global regulatory bodies cautioned on Thursday.

EU to maintain limited access to UK derivatives clearers into 2021

The European Commission will adopt new provisions allowing the EU continued access to the U.K.'s financial industry and derivatives clearing houses after the post-Brexit transition period expires at the end of 2020.

ICE releases beta of forward-looking interest rate benchmark as LIBOR era closes

Intercontinental Exchange released the beta version of its new interest rate benchmark Tuesday, which provides reference rates similar to the soon-defunct London Interbank Offered Rate.

Interactive Brokers expands Singapore presence with new local entity

Interactive Brokers said on Tuesday that it has expanded its presence in Singapore with the opening of an office and the establishment of a local operating entity, moves that come as the company reports a rising clientele in Asia.

Deutsche Boerse debuts data-heavy A7 analytics platform

German exchange and market technology network Deutsche Boerse rolled out a new analytics platform, A7, to provide investors and algorithm designers with “nanosecond-precise” data on its Xetra and Eurex trading platforms.

Hong Kong exchange debuts MSCI futures contracts in bid for international reach

Hong Kong Exchanges & Clearing rolled out new futures offerings under a licensing agreement with MSCI on Monday, marking the latest move in the exchange’s effort to become Asia’s leading financing market.

Kraken scores regulatory approval for crypto futures exchange in UK

Cryptocurrency trading platform Kraken will become the first licensed crypto futures exchange in the U.K. after securing local regulatory approval, cementing its position as the continent’s largest marketplace for digital assets by trading volumes.

US banking regulators warn of more litigation, financial risk from clumsy LIBOR transition

Banks could face greater risk of litigation and reputational damage if they do not implement better plans for replacing the world’s most-quoted interest rate, top U.S. financial regulators said Wednesday.

COVID-19 pandemic liquidity crunch for derivatives had roots in 2008 reform measures, ISDA says

A disruption in derivative market liquidity in March, showing a stark pullback in the risk appetite of banks as the pandemic set in, may have been exacerbated by reform measures implemented following the financial crisis in 2008, according to a new report from an industry group.

CBOE to launch Dutch derivatives market, furthering shift from London to continental Europe

Cboe Global Markets plans to launch a new Amsterdam-based futures and options market in the first half of 2021, as part of the exchange operator's effort expand its reach across continental Europe, the stock exchange operator said Wednesday.

FINRA appoints former Bridgewater co-CEO Eileen Murray as chair

Former Bridgewater Associates co-CEO Eileen Murray will be the new chairwoman of the Financial Industry Regulatory Authority, putting one of the hedge fund industry’s top female executives in charge of a key Wall Street regulator, the group said Tuesday.

Bank trading revenue plummeted 33% from COVID-19 before picking up in April

U.S. bank trading revenue dropped by $3.3 billion in the first quarter as the effects of the COVID-19 pandemic set in, according to new numbers from the Office of the Comptroller of the Currency.

Deutsche Bank closes Asia’s first foreign-exchange derivative with ESG targets

Deutsche Bank and Olam International have agreed on a foreign-exchange forward, the first of its kind to be made in Asia, that ties a lock-in discount to Olam’s success in meeting environmental, social and governance targets.

US regulators dial down Volcker Rule, costly swaps requirement for banks

U.S. financial regulators are easing major restrictions imposed on banks after the 2008 financial crisis, allowing banks to increase investments in venture capital funds and to avoid setting aside cash to backstop derivatives swaps between affiliates of the same company.

CTFC rules on ‘actual delivery’ of digital assets come into force

Long-anticipated final guidelines on how the U.S. Commodity Futures Trading Commission will interpret “actual delivery” of digital or virtual currencies in retail transactions went into effect Wednesday, the latest step in the commission’s efforts to clarify rules surrounding digital assets.

Cloud banking software provider nCino files to go public

nCino, a financial technology company that provides cloud-based software for financial institutions, has filed to go public and hopes to raise $100 million.

Deutsche Bank faces class action over spoofing allegations

Deutsche Bank’s spoofing scandal looks to be far from over, with the German bank and its U.S.-based securities brokerage unit hit with a proposed class action on Monday over a scheme allegedly conducted by two of the bank’s traders throughout 2013 to manipulate Treasury and eurodollar futures.

London Stock Exchange-Refinitiv merger faces in-depth competition probe in EU

The European Commission has opened an investigation into the London Stock Exchange Group’s proposed acquisition of New York-based Refinitiv, the regulator said Monday, raising concerns that the acquisition may reduce competition in the European Union’s financial services industry.

China approves AIA as first foreign-owned life insurance subsidiary

AIA Group became the first foreign company approved to operate a wholly owned life insurance subsidiary in mainland China, marking the latest move by the country to open up its financial markets to the rest of the world.

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