The Bank of Japan on Monday started studying the feasibility of issuing its own digital currency, joining other central banks in the effort to equal the innovation in the field achieved by the private sector, Reuters reported.
The World Federation of Exchanges today released research on market circuit breakers used amid recent COVID-19-related volatility. Among the findings: 67% of the exchanges studied said circuit breakers were hit in March 2020 and 30% are reviewing their calibrations.
The FCA today said it plans to ease certain rules for SPACs after a four-week consultation period. London stakeholders have complained current U.K. regulations leave them unable to compete in the SPAC marketplace versus U.S. and EU firms.
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.
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.
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.
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.