DB1, CME: the ECB working group on euro risk-free rates is calling on market participants and interested parties to comment on its assessment of candidate euro risk-free rates against key selection criteria. The new euro risk-free rate will replace EONIA, which will no longer meet the criteria of the EU Benchmarks. The three candidate euro risk-free rates are the new wholesale unsecured overnight bank borrowing rate (ESTER), the one-day secured, centrally cleared, general collateral repo rate GC Pooling Deferred produced by DB1 STOXX, and the one-day secured, centrally cleared, combined general and specific collateral repo rate RepoFunds Rate, which is produced by NEX Data Services.
DB1 CEO, Theodore Weimer believes Great Britain might not “play fair” regarding Brexit to keep status as a global investment hub. Reported by Reuters.
London Stock Exchange: Banco de México granted approval for LCH to act as CCP in OTC interest rate derivatives for Mexican-domiciled market participants. CME Clearing won full recognition in 2016 and is now the leading CCP in MXN-denominated interest rate swaps.
Nigerian Stock Exchange (NSE) is reforming its equities market structure. NSE will expand the range of participants in the auction. It will introduce a size test condition in price determination during the auction period. Also opening and closing auctions will be followed by imbalance sessions. Finally the 10% daily Limit up Limit down (LULD) price band will now be based on the previous day’s close.
Nasdaq CEO Adena Friedman said ICOs could be "taking advantage of people." "I have real concern on lack of transparency, oversight, and accountability that these companies have as they're going out to raise capital through an ICO."
Nasdaq elected all nominated directors to the boards of its six U.S. exchanges.HKEX announced the appointment of members to the Listing Committee of the Main Board and GEM, with Andrew Walter Bougourd Ross Weir as Chairman.
Nigerian Stock Exchange (NSE) is reforming its equities market structure. NSE will expand the range of participants in the auction. It will introduce a size test condition in price determination during the auction period. Also opening and closing auctions will be followed by imbalance sessions. Finally, the 10% daily Limit up Limit down (LULD) price band will now be based on the previous day’s close.
Powernext and Gasunie, the Dutch gas transmission system owner and operator, will expand their cooperation: as of July 1, 2018, Gasunie will use PEGAS as the exclusive platform for the determination and provision of the Neutral Gas Price (NGP).
Federal Reserve adviser, David Bowman, believes interest rates derivatives market needs to develop contingency plans in the case LIBOR ceases to exist; according to Reuters.