Bloomberg appoints new global head of rates electronic trading
London-based hire joins from the Bank of England; previously served at Nomura, Credit Suisse and Mizuho Capital Markets.
Tag: Bank of England
Bank of England continuing with proposals to cap hedge fund leveraging in UK gilt markets
The plans come following recent market shifts and turbulence, such as the Middle East conflict, and aim to curb risk posed by a small number of firms holding concentrated positions and triggering destabilising cross-market unwinds.
Post-Trade
T+1 will release £1 billion of margin in the UK, says BoE
Bank of England’s director for financial market infrastructure highlights the reduction of costs and risks in shortening the settlement cycle.
Bank of England and FCA to launch joint Digital Securities Sandbox
The new regime is expected to last five years and is aimed at helping regulators design a better-informed, permanent technology regime for the digital securities market.
UBS hit with $387 million in combined penalties from European and US regulators for Credit Suisse Archegos failures
The Swiss Financial Market Supervisory Authority (FINMA) has also opened enforcement proceedings against an undisclosed former manager at Credit Suisse.
Derivatives traders are backing future interest-rate driven growth as BofE hikes rates to highest level in 15 years
Acuiti report suggests the interest rate environment could reverse a decade-long decline in the number of futures commission merchants (FCMs).
BofE launches stress testing ‘exercise’ for major banks and buy-side to prevent future bonds collapses
Exercise will shed more light on the behaviours of major institutions in stressed financial market conditions with a focus on the fixed income and derivatives markets; follows the UK’s gilts crisis in September.
Investors gear up for litigation over Credit Suisse write-down
Avenues could include challenging the Swiss government, suing FINMA, or suing Credit Suisse – with AT1s recovering slightly as the market prices in the hope of legal redress.
Central banks take action to enhance US dollar liquidity amid market turmoil
The ECB, Bank of England and Federal Reserve join with other major central banks to offer seven-day US dollar operations on a daily (instead of weekly) basis, effective from 20 March 2023.
Bank of England set to step up CCP and CSD supervision
In its annual supervision of financial market infrastructures (FMI) report, the central bank warned that these entities are so crucial to stability that any disruption could have consequences that affect the entire financial system.