News and Notes

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?

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ESMA renews decision requiring net short position holders to report positions of 0.1%+

Negative leaning WSJ article on securities lending vs. shareholder voting

ESG high on the radar for Bank of England Securities Lending Committee

ECSDA requests postponement of CSDR

BoE’s post-trade tech panel reviews “pinch points”, considers reforms

ISDA and aosphere Launch E-contracts Service

Seclending prioritized as DLT post-trade project by JPX, JASDEC

ESMA publishes final report on fair and reasonable (FRANDT) clearing terms under EMIR Refit

SGX announces launch of Singapore Single Stock Futures and signs MSCI Singapore licence agreement

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Reuters: global firms consider moving treasury operations out of HK

Tradeweb’s repo ADV up up 9.4% YoY to $231.4bn in May

BIS via ISDA: OTC derivatives notional down 12.8% from mid-year 2019 to end 2019

OCC securities lending CCP volume flat in May 2020 year over year

AcadiaSoft announces IM phase 5 soft launch to assist with UMR compliance

SIFMA: no compelling case for Fed to change CCAR/SCB status quo

Federal Reserve releases results of survey of senior financial officers at banks about their strategies and practices for managing reserve balances

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Bloomberg and J.P. Morgan integrate data and workflow for post-trade efficiencies

ISLA publishes position paper on DAC6

Research paper: Collateralized Networks

BrokerTec and TriOptima add UTIs for end-to-end repo workflow solution

ICMA issues report on performance of the European investment grade corporate bond markets during the COVID-19 crisis

ISLA Publishes Revised 2020 US Tax Addendum to GMSLA

BIS: Model risk at central counterparties: Is skin-in-the-game a game changer?

Fed blog: Have the Fed Swap Lines Reduced Dollar Funding Strains during the COVID-19 Outbreak?

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Reuters: PASLA ESG survey finds compatibility with securities lending

Reuters: UK borrows at negative interest rate for first time

Northern Trust to liquidate Prime Obligations money market fund after withdrawals

Switzerland’s FINMA extends Leverage Ratio exemption of central bank assets

Roll Call: House bills would let regulators study blockchain, backers say

ECB’s SESFOD: financing collateralized by euro-denominated securities continues downtrend

FT article on big hedge funds getting bigger, outperforming smaller rivals

LCH clears first SORA swaps

EBA publishes dividend arbitrage inquiry, makes regulatory suggestions

Bank of England updates on Covid Corporate Financing Facility

Delta Capita collaborates with DTCC to support buy-side firms’ SFTR testing

ESMA announces open hearing on benchmarks consultation paper