Total trading on SEFs averaged $752.26 billion per day during the month of March, the highest daily average for any month since FIA began tracking these data in January 2014. March's average daily trading volume was up 30.4% from February and 59.8% from March 2016. The increase in trading volume was driven mainly by a surge in on-SEF trading of interest rate swaps and other non-FRA products. Rates trading averaged $665.20 billion per day in March, which was up 29.7% from February and 70.5% from March last year. This high increase in interest rates trading was strongly impacted by trueEX, which jumped from having 2.66% market share in February to 21.85% in March. Overview Dashboard: a high-level view of monthly volume trends and year-to-date SEF market share.
Note: the total amount of trading for the entire month also set a record, with total monthly volume up 49.9% from February 2017 and 59.8% from March 2016.
In-Depth Dashboard: designed for a closer look at volume and market share information in each asset class.
FIA: March 2017 SEF Tracker Data Shows Record Level Of Trading Activity
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Moody’s Upgrades Nasdaq Credit Rating
On April 12, 2017, Moody’s Investors Service (Moody’s) upgraded Nasdaq, Inc.'s long-term issuer and senior unsecured ratings to Baa2 from Baa3. The rating outlook is stable. This concludes a review that Moody’s initiated on February 10, 2017.
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Office Of The Comptroller Of The Currency Announces One-On-One Industry Meetings As Part Of Office Of Innovation Office Hours
The Office of the Comptroller of the Currency (OCC) announced its Office of Innovation will host two days of office hours for national banks, federal savings associations (FSAs), and financial technology companies (fintech companies) wishing to discuss the OCC’s perspective on responsible innovation. This initial round of meetings will be held in the OCC’s San Francisco Field Office on May 16 and 17, 2017.
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New Interpretation And Policy .03 To MIAX Options Rule 521, Regarding Nullification And Adjustment Of Options Transactions Including Obvious Errors, For Complex Orders And Stock-Option Orders, Operative April 17, 2017
MIAX Options has filed with the Securities and Exchange Commission to adopt a new, harmonized obvious error rule provision relating to Complex Orders and Stock-Option Orders.
The new obvious error rule provision will be effective beginning Monday, April 17, 2017.
Please refer to MIAX Options Regulatory Circular 2017-21 for further details.
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OneChicago: Elimination Of Pre-Open State In Delta1, Effective Date: April 17, 2017
OneChicago, LLC (“OneChicago”) is issuing this Notice to Members (“NTM”) 2017-22 to inform market participants that OneChicago is eliminating the Pre-Open state in its trading platform, Delta1. Delta1 currently supports four primary states: Pre-Open, Open, Close, and Halt. The Pre-Open state runs from 7:00:00 a.m. CT to 8:29:59 a.m. CT, during which time the reporting of bilateral trades in certain supported instruments, such as block trades and Exchange of Future for Physical (“EFP”) trades, is permitted. During the Pre-Open state, order entry for SSF and Spread instruments is not permitted.
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Montréal Exchange's Markets Closed Today, April 14, 2017.
The Exchange's markets are closed today, April 14, 2017.
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Wynn Resorts, Limited To Join The NASDAQ-100 Index Beginning April 24, 2017
Nasdaq (Nasdaq:NDAQ) today announced that Wynn Resorts, Limited (Nasdaq:WYNN), will become a component of the NASDAQ-100 Index® (Nasdaq:NDX) and the NASDAQ-100 Equal Weighted Index (Nasdaq:NDXE) prior to market open on Monday, April 24, 2017. Wynn Resorts, Limited will replace TripAdvisor, Inc. (Nasdaq:TRIP) in the indexes.
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Credit Suisse: CEO And Executive Board Voluntarily Propose A Reduction Of Variable Compensation By 40% And Board Of Directors Decides On No Increase In Total Board Compensation For 2017
Since the publication of the Compensation Report, the Chairman of the Board of Directors, Urs Rohner, and member of the Board and Chairman of the Compensation Committee, Jean Lanier, have conducted a thorough engagement with many of Credit Suisse’s shareholders.
Feedback on the Group’s strategy and its execution has been supportive. There were, however, some shareholders who expressed reservations relating to the variable compensation granted to the Executive Board.
The CEO and members of the Executive Board have decided to propose to the Board of Directors that the total variable compensation comprising of Long-Term Incentive awards for 2017 and Short-Term Incentive awards for 2016, as previously granted to them by the Board, be reduced by 40% each.
In addition, the Board of Directors has also decided to maintain total Board compensation at the level of 2015 and 2016, with no incremental increase in 2017 as proposed to the AGM.
Please find the Letters to Shareholders by the Chairman of the Board of Directors, Urs Rohner, and the CEO, Tidjane Thiam on the internet.
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National Settlement Depository Becomes Candidate LOU
National Settlement Depository (NSD), Russia's central securities depository, signed a Master Agreement with the Global Legal Entity Identifier Foundation (GLEIF) and became a Candidate for the Local Operating Unit (Candidate LOU). Appropriate information has been placed on GLEIF's official website. NSD is the first company in Russia and the CIS with this status. To date, there are 23 organizations worldwide which have applied for LOU status. Six LOUs have already been accredited.
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SEC Freezes Brokerage Accounts Behind Alleged Insider Trading
The Securities and Exchange Commission today announced an emergency court order to freeze assets in two brokerage accounts used last week to reap more than $1 million in alleged insider trading profits in connection with a merger announcement by telecommunications companies.
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Shenzhen Stock Exchange “Technology SMEs Growth Roadmap Plan 2.0”“Suishi Xinghuo” VC Alliance Launches With The First Accession Of 20 Known VC Institutions
With the support of Torch High Technology Industry Development Center of the Ministry of Science and Technology (hereinafter referred to as the “Torch Center”) and Shenzhen Stock Exchange (SZSE), “Suishi Xinghuo” Venture Capital Alliance (hereinafter referred to as the “Alliance”) was officially launched at SZSE on April 12, 2017. The Alliance is founded with dependence on the “Technology SMEs Growth Roadmap Plan 2.0” (hereinafter referred to as the “Roadmap Plan 2.0”) and has the first accession of 20 well-known venture capital instructions on its launch. Director of the Torch Center Zhang Zhihong, General Manager of SZSE Wang Jianjun, and senior executives of the 20 VC institutions attended the launch ceremony.
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Framing the Question: Improving Your Brainstorming Session
I listened recently to a Stanford Innovation Lab podcast with Professor Tina Seelig. During this episode, she interviews Emily Ma from Alphabet. They discuss the keys to an effective brainstorming session. During their discussion, they focused on important it is to frame the question properly at the outset of a brainstorming meeting. For instance, Seelig and Ma describe the question: "How might we create an awesome birthday party for our friend?" Then they talk about how you might reframe the question with a slight change in word choice. What if you used the word "celebration" instead of "party" in your "How Might We" question? The word "party" might have framed the question too narrowly. Changing the word to "celebration" could invite a much wider range of ideas. This example reminds us that we should be careful about our word choices. However, we also have to consider multiple frames as we pose the question(s) that initiate our brainstorming sessions.
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CFTC Seeks Public Comment On Request From CME For Order Permitting Commingling Of Funds In Connection With Futures And Foreign Futures Contracts Listed On The Dubai Mercantile Exchange Limited
The U.S. Commodity Futures Trading Commission (CFTC) is requesting public comment on a petition submitted by Chicago Mercantile Exchange, Inc. (CME) for an order pursuant to Section 4d of the Commodity Exchange Act (CEA).
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CFTC Commitments Of Traders Reports Update
The current reports for the week of April 11, 2017 are now available.
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The High-Potential Leader: How to Grow Fast, Take on New Responsibilities, and Make an Impact
Set your sights on High-Potential leadership and help your organization thrive
In today’s tumultuous and rapidly evolving business environment, High-Potential leaders are in high demand. Do you possess the relationship skills, strategic vision, innovation, and determination needed to thrive as a high-potential leader in your organization? New York Times bestselling author Ram Charan answers that question and helps you hop on the fast-track to leadership
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Introduction to Bayesian Estimation and Copula Models of Dependence
Presents an introduction to Bayesian statistics, presents an emphasis on Bayesian methods (prior and posterior), Bayes estimation, prediction, MCMC,Bayesian regression, and Bayesian analysis of statistical modelsof dependence, and features a focus on copulas for risk management
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US Treasury Releases Report On Foreign Exchange Policies Of Major Trading Partners Of The United States
The Department of the Treasury issues this Report on developments in international economic and exchange rate policies and submits it to Congress pursuant to the Omnibus Trade and Competitiveness Act of 1988, 22 U.S.C. § 5305 and Section 701 of the Trade Facilitation and Trade Enforcement Act of 2015.
“An essential component of this Administration’s strategy is to ensure that American workers and companies face a level playing field when competing internationally. When our trading partners engage in currency manipulation, they impose significant, and often long-lasting hardship on American workers and businesses. Expanding trade in a way that is freer and fairer for all Americans requires that other economies avoid unfair currency practices, and we will continue to monitor this carefully,” stated Secretary of the Treasury Steven T. Mnuchin.
Treasury has established criteria specified in the Trade Facilitation and Trade Enforcement Act of 2015 (the “2015 Act”) that determine whether enhanced analysis is necessary. Pursuant to the 2015 Act, Treasury has found in this Report that no major trading partner met the criteria for the current reporting period.
Similarly, based on the analysis in this Report, Treasury also concludes that no major trading partner of the United States met the standards identified in Section 3004 of the Omnibus Trade and Competitiveness Act of 1988 for currency manipulation in the second half of 2016. Notwithstanding, Treasury has not re-examined previous reporting periods.
Additionally, U.S. Department of the Treasury established a “Monitoring List” of major trading partners that merit close attention to their currency practices. Treasury finds that six major trading partners warrant being placed on the Monitoring List for special attention: China, Germany, Japan, Korea, Switzerland and Taiwan.
The findings and recommendations of the Report are intended to combat potentially unfair currency practices and support the growth of free and fair trade. The United States cannot and will not bear the burden of an international trading system that unfairly disadvantages our exports and unfairly advantages the exports of our trading partners through artificially distorted exchange rates. Treasury is committed to aggressively and vigilantly monitoring and combatting unfair currency practices.
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Nasdaq Dubai Welcomes Listing Of USD 1.25 Billion Sukuk By Islamic Development Bank
Nasdaq Dubai, the region’s international financial exchange, has welcomed the listing ofa 1.25 billion US dollar Sukuk issued by the Islamic Development Bank (IDB).
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DIFC Presents Findings From Wealth Management Working Group Consultation
The Dubai International Financial Centre (DIFC) Wealth Management Working Group has presented a report to the Governor of DIFC, His Excellency Essa Kazim, which underlines the importance of the Centre in becoming a regional hub for family business, the source of 60% of GDP and an employer of over 80% of the workforce in Middle East economies.
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Dubai Women Establishment Signs MOU With Dubai Financial Market - The New Partnership To Enhance Women’s Participation On The Boards Of Listed Companies
Under the directives of Her Highness Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council, President of the Dubai Women Establishment, and wife of His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Presidential Affairs, the Dubai Women Establishment signed a Memorandum of Understanding (MoU) with Dubai Financial Market. The partnership has been established to foster bilateral collaboration and further women’s economic empowerment by encouraging their participation on the boards of listed companies.
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