News and Notes

BofE working paper: CCP margin requirements not always the best for the market

Globe and Mail: Ontario Securities Commission accuses Cormark Securities of abusive short selling

NY Fed and MAS announce joint wholesale CBDC experiment

FSB gets on board with central clearing of repo

TMPG consults on UST market clearing and settlement of SFTs

European Council agrees its position on the implementation of Basel III reforms (CRR III)

WSJ: Japan’s Waning Appetite for Treasurys Fuels Anxiety on Wall Street

ISLA writes to UK Law Commission to support legal framework for crypto-token collateral arrangements

OFR adds FIX to financial instrument reference database

Fed blog: What Is Atomic Settlement?

ECB and EBA blog post: time to finalise Basel III in Europe without deviations

FinCEN warns on ransomware as data show spike in incidents

Tradeweb’s repo ADV up 13.6% yoy to $373bn in October

Eurex Repo volumes up 32% yoy at €253.3bn in October

J.P. Morgan, DBS and SBI complete live trades on DeFi against tokenized HQLA

DataLend: October 2022 Securities Lending Revenue Down 5% YoY to $781 Million

US SEC approves N-PX rules, asset managers must disclose securities on loan during proxy votes starting 2024

BIS and central banks of France, Singapore and Switzerland to explore cross-border CBDC trading and settlement using DeFi protocols

OCC seclending transactions up 11.6% yoy in October, loan value down

BrokerTec European repo ADV up 24% yoy to €376 bn in October

ISDA and BNP Paribas Successfully Test Digital Regulatory Reporting for CFTC Rules

GLEIF launches ML tool tested by J.P. Morgan for automating documentation

Eurex Clearing raises stakes in bid for EU buy-side business

LCH RepoClear has record Q3 at €75.8 trn nominal cleared

ICMA European repo survey shows new record outstanding value of EUR 9,680 billion at half-year 2022

ICMA warns ECB on repo market instability

ISLA/Linklaters publish on Common Domain Model progress

ECB’s SESFOD shows increased financing rates, deteriorating liquidity conditions

MAS outlines cyber priorities amid “increasingly hostile” threats

Saphyre extends AI functionality to securities lending

ECB raises rates 75bps, adjusts remuneration of minimum reserves, and recalibrates targeted lending operations

Reuters: BoK opens $4bn repo facility and loosens collateral policies after theme park default

Bloomberg: Traders Seek ECB Action on Collateral Squeeze Warping Market

ICMA publishes report setting out a high-level categorisation relating to sustainability in the repo market

Focus Taiwan: regulator tightens short selling rules again

FINRA creates prototype search engine for robo-rulebook

Paper: Securities Lending as a Barrier to (or an Instrument for) Shareholder Activism and the Role of Intermediaries as Lending Agents

BIS and HKMA publish prototype for integrated wholesale-retail-stablecoin CBDC systems

FSB backs repo clearing in bond market stress analysis

Reuters: Germany adds 54 bln euros to bonds to use for repo, energy spending

European Union officially postpones CSDR buy-in rules to November 2025

Mitsui to develop APAC quantum computing with Quantinuum

ESMA temporarily amends eligible collateral for NFCs on energy market vol

TASE piloting first digital sovereign bond with VMWare and Fireblocks

ICMA publishes guide to China’s repo markets

AccessFintech adds FIGIs to data network

FSB makes recommendations for cyber incident reporting

CACEIS to acquire RBC’s seclending and other operations in Europe and Malaysia

Fed asks for comments on large bank resolution procedures

EquiLend: seclending Q3 revenue up 12% to $2.6bn yoy, N. America leads