The Treasury Department and the European Union issued a statement on last week's U.S.-EU Joint Financial Regulatory Forum calling for continued global cooperation on a number of issues, including efforts to mitigate financial stability risks related to COVID-19.
Global fintech firm Broadridge today announced it agreed to acquire Itiviti Holding AB, a provider of trading and connectivity technology to the capital markets sector, in an all-cash transaction valued at $2.5 billion, pending regulatory approvals.
The BOE and U.K.'s Financial Conduct Authority are urging bankers to rev up their switchover from LIBOR. Firms have been told to stop making syndicated lending commitments tied to sterling LIBOR after Q1.
Cboe announced it will expand its global equities business in Asia with the acquisition of Chi-X Asia Pacific Holdings. The deal is seen closing in second- or third-quarter 2021, pending regulatory review.
Sustainable investments are new by most measures. This is especially true in the fixed-income sector, where ESG products are in their infancy and clients tend to be more conservative investors, according to members of a panel who addressed the issue on Wednesday at the Eurex Derivatives Forum.
TP ICAP announced it has completed the acquisition of Liquidnet, an institutional trading network and dark pool operator. The $700 million deal combines TP ICAP’s high-touch derivatives and cash equities group with Liquidnet’s low-touch block cash equities platform.
Cboe Global Markets today said it promoted Catherine Clay to executive vice president, Information Solutions, and also named her to Cboe’s executive leadership team. Clay will lead a new Data and Access Solutions division within the company.
Interest in SPACs, or special purpose acquisition companies, is growing even as analysts express concern about the pace of the investment boom. According to SPAC Research, U.S. SPACs have raised $89.7 billion in capital so far in 2021, up from $83.4 billion in 2020.
It’s hard to argue against the merits of sustainability, but making it into investable products is a work in progress among members of the financial community.
The FIA Boca-V conference saw a slight deviation in form with its final keynote speaker on the topic of sustainability. Instead of an extended Q&A or a roundtable discussion among many panelists seen in sessions from previous days, FIA CEO Walt Lukken gave the floor to renowned astrophysicist and former space science education lead at NASA, Dr. Hakeem Oluseyi, to tell his life story.
The CFTC has formed a Climate Risk Unit to address the role of derivatives in understanding and pricing climate-related risk, as well as the transition to a low-carbon economy.
Financial institutions are great at collecting data, but they actually utilize less than 1 percent of what they have in-house, said Google executive Derek White. That’s a strong use case for enlisting cloud technology’s help clean and connect that data to the players in a market’s ecosystem.
The FIA has published the results of a members survey conducted in Q1 2021. Two-thirds of the 274 respondents said they expect global trading volume to rise this year. The survey also found the impact of the pandemic remains the most-cited challenge facing the industry.
If there still are any doubters as to the extent of Brexit’s impact on London’s financial markets, Mairead McGuinness, European commissioner for financial services, set them straight on Tuesday. In a keynote address to the FIA’s Boca conference, she called the U.K.’s then-popular 2016 decision to leave the E.U. “a major fragmenting event” with consequences.
Editor
Suzanne Cosgrove is a journalist and communications professional who was formerly director of corporate communications at Cboe Global Markets. She is a contributing editor at John Lothian News.