ESMA Proposes improvements to the EU regime of third country benchmarks
19 August 2022
"The European Securities and Markets Authority ("ESMA"), the EU’s securities markets regulator, has published its response to the European Commission’s ("Commission") consultation on the regime applicable to the use of benchmarks administered in a third country ("TC"). In its response, ESMA comments on the functioning of the current regime and proposes improvements to the regulatory and supervisory framework as well as the European Union ("EU") benchmark labels." For more information please press here.
ESMA
Issues opinion on accepted market practice by Portuguese CMVM
10 August 2022
"The ESMA, the EU’s securities markets regulator, has issued an opinion supporting a revised Accepted Market Practice ("AMP") on liquidity contracts notified by the Portuguese market regulator, the Comissão do mercado de valores mobiliários ("CMVM")." For more information please press here.
Market News
Reuters
Turkish lira flat after shock rate cut weakening
19 August 2022
"The Turkish lira was steady against the U.S. dollar on Friday after nearing record lows in the previous session as Turkey's central bank shocked markets by cutting its main interest rate to 13%." For more information please press here.
Financial Times
US stocks edge higher after burst of mixed economic data
18 August 2022 "Dollar trades at highest level since late July against basket of six other currencies." For more information please press here.
Bloomberg
Gold slips with rising yields as traders weigh data, fed hiking
16 August 2022 "Gold slipped with rising Treasury yields as traders weighed mixed US economic data and the Federal Reserve’s interest-rate hiking path. Data Tuesday showed a bigger-than-expected drop in US home construction, while production at US factories increased in July for the first time in three months." For more information please press here.
Cryptocurrencies
Reuters
Sudden crypto drop sends bitcoin to 3-week low
19 August 2022
"Cryptocurrencies fell sharply on Friday, with sudden selling dragging bitcoin to a three-week low. The reason for the drop was not immediately clear. Bitcoin fell as much as 7.7% to $21,404 over a few minutes during the European morning. It recovered slightly and last stood at $22,047. Ether was last down 5% at $1,753." For more information please press here.
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