News and Notes

Tradeweb’s repo ADV up 11.9% YoY to $238.6bn in June

ISLA Publishes CSDR Mandatory Buy-in & Cash Penalties Regimes FAQs

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Global custodians piling into DTCC’s Exception Manager ahead of CSDR

DataLend: global seclending revenue down to $3.9bn in H1 2020, Americas buck downtrend

BIS annual report reflects on 90-year history, pandemic present, and future innovation

FSB statement on the impact of COVID-19 on global benchmark reform

OCC securities lending CCP activity increases 16% in June 2020 year over year

Cboe completes EuroCCP acquisition, plans European derivatives market in H1 2021

SEC Charges BNP Paribas with Violations of Regulation Sho

Reuters: Bank of Korea plans to provide dollars to financial firms via repo operations

AcadiaSoft and OpenGamma team up for UMR compliance

Fed blog: banks again taking advantage of Leverage Ratio arbitrage

ISDA derivatives survey: 96% reported declines in liquidity before central bank intervention

WSJ: Money-Market Shifts Are Bad News for Profit-Starved Global Banks

JPM: risk statistics in performance calculators – suitable and scalable?

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Fed releases stress test results, coronavirus sensitivity analyses, halts buybacks and caps dividends

US regulators finalize amendments to margin rules for inter-affiliate swaps and LIBOR legacy swaps

US regulators modify Volcker Rule to allow some covered fund investments

CPMI and IOSCO issue paper on CCP default management auctions with three categories for follow up

EU authorities reach political agreement on CCP recovery and resolution

New Eurosystem repo facility to provide euro liquidity to non-euro area central banks

DTCC’S SFTR Community Jumps to 250 as Firms Ready for Forthcoming Regulation

ECB postpones T2-T2S consolidation project

SIX Launches a New Triparty Agent to Enhance Collateral and Liquidity Management

American Banker: Two US Senators ask regulators to undo change to Supplementary Leverage Ratio

Cancelled: SFTR for UK’s NFCs and CSDR settlement discipline, as Brexit plans start appearing

SmartStream launches API for firms requiring fast access to reference data for meeting the SFTR deadline

ISLA publishes EU roadmap and COVID-19 regulatory impacts

Fed blog: Japan’s Experience with Yield Curve Control

Central banks to reduce frequency of US dollar liquidity operations

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Fed SCOOS: dealers have tightened prices and nonprice terms for SFTs and OTC derivatives across all counterparties

BIS: US dollar still dominates international funding markets, accounts for 61% of foreign exchange reserves

Euroclear’s Taskize and Meritsoft integrating automated fails in end-to-end CSDR solution

BBH: NAV oversight during extreme market volatility

Eurex clears first interest rate swap transaction from Japan

Negative US interest rates: FT says Bloomberg telling terminal users to consider Bachelier options model instead of Black-Scholes

ESMA’s working group on euro risk-free rates recommends voluntary compensation for legacy swaption contracts affected by the discounting transition to the €STR

Montréal Exchange Launches CORRA Futures

Bank of Canada becomes administrator of Canadian Overnight Repo Rate Average (CORRA)

FT: CalPERS to adopt up to 20% leverage in new portfolio strategy

IHS Markit, Pirum release report on SFTR for asset managers

Man Group makes argument for shorting based on ESG

Fed blog: How Fed Swap Lines Supported the U.S. Corporate Credit Market amid COVID-19 Strains

P&I: Lothian adopts automatic recall of stock for annual meeting votes

Fed to slowly raise repo rates

Wematch and Pirum Systems announce go-live with Bank of America on their integrated service on Securities Lending

BoE blog: what role did margin play during the Covid-19 shock?