News and Notes

Tradeweb’s repo ADV up 38.9% YoY to $345.1bn in July 2021

BrokerTec US repo volume up 15% in July 2021 year over year

OCC seclending CCP loan value up 86.9% in July 2021 year over year

ESMA Releases Update to SFTR Validations Rules

EquiLend acquires strategic stake in Stonewain Systems

TraditionDATA launches predictive SOFR rate based on interdealer and tri-party repo data

Link to comment on FINRA short sale transparency proposal spreads on social media

DataLend: $756 million in Securities Lending Revenue in July 2021

Reuters: U.S. Fed reverse repo volume hits record $1 trillion

Global Investor: LSEG UnaVista to cease stock loan reporting in January 2022

ISLA, ICMA & ISDA sign MoU on the Common Domain Model

ARRC Formally Recommends Term SOFR

Bank of England to suspend Liquidity Facility in Euros from 1 October 2021

European Tax: German Federal Ministry issued long-awaited decrees on cum/cum-transactions and securities lending

Credit Suisse Group publishes the report of the independent external investigation into Archegos Capital Management

Fed establishes Standing Repo Facility and Foreign and International Monetary Authorities Repo Facility

Bloomberg: LIBOR’s Final Days Begin with Shakeup to Swaps Market

Survey: 60% of banks and brokers say middle office settlement failures still a significant problem

ISDA and IHS Markit Launch the ISDA 2021 SBS Protocol on ISDA Amend

Acuiti: the impact of SA-CCR on bank capital requirements

Thoma Bravo Announces Merger of Calypso Technology and AxiomSL

Reuters: CME’s BrokerTec to launch new collateral basket for EU bonds

SEC’s Gensler says agency plans to restart security-based swaps rulemaking

SIX expands its international custody services reach to the US

IOSCO: Implementation monitoring of the PFMI: Level 3 assessment of financial market infrastructures’ business continuity planning

Basel Committee consults on an amendment to the process for reviewing the G-SIB methodology

TriOptima Compresses SGD 1.7 Trillion Notional at LCH In H1 2021

SFTR Inspires Firms to Consolidate Processes for Regulatory Reporting Regimes: IHS Markit and Pirum Survey

Euroclear’s Collateral Highway mobilised a record EUR 1.7 trillion in H1 2021

Santander to Acquire Amherst Pierpont, a Leading U.S. Fixed-Income Broker Dealer

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LCH: RepoClear saw €113 trillion in nominal in H1 2021

Risk: Isda’s ‘master’ master agreement courts controversy

Paper: Hedge Fund Treasury Trading and Funding Fragility: Evidence from the COVID-19 Crisis

Fed blog: Intraday Timing of General Collateral Repo Markets

Eurex expands client scope of buy-side access to cleared repo business

Lexology: China Futures Law: netting, collateral and prudential requirements for banks

SESFOD March-May: collateral financing conditions ease significantly while funding demand weakens

Reuters: JPMorgan creates new data business in its securities services division

ESMA launches public consultations on CCP recovery regime

Paper: Federal Reserve’s balance-sheet normalization from 2017-2019 increased repo rate distortions

Sri Lanka’s Colombo Stock Exchange introduces repo trading

ESMA fines DTCC Data Repository €408,000 for EMIR data breaches

Paper: Synthetic leverage and fund risk-taking in German equity funds

UK Prudential Regulatory Authority publishes near-final implementation of Basel standards

Bloomberg: Philippine Bourse CEO Hopeful Short Selling Will Start This Year

Tradeweb Announces First Fully Electronic SOFR Swap Spread Trade

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Reuters: Japan’s Nomura plans to suspend part of cash-prime brokerage business

Tradeweb’s repo ADV up 53.6% YoY to $366.4bn in June 2021