Europe

Payments & Settlements

Italian Banks Adopt Blockchain to Reconcile Interbank Transactions

By Editors | 31/07/2020

55 banks are using a blockchain platform to share interbank transfer data and reconcile transactions, an initiative made possible by a rule change last May.

Clearing & Post-Trade

ESMA Set to Defer CSDR’s Settlement Discipline Regime

By Editors | 29/07/2020

The European Commission asked ESMA to consider a one-year deferral in light of operational pressures on firms and other market developments amid the Covid-19 pandemic.

Market Data & Technology

Refinitiv Launches Term SONIA Reference Rate Prototype

By Editors | 22/07/2020

Refinitiv’s announcement follows the launch of a beta version of term SONIA reference rates by ICE Benchmark Administration earlier this month.

Supervision & Enforcement

ESMA Opens Probe Into Germany’s Wirecard Response

By Editors | 19/07/2020

ESMA’s fast track assessment will focus on whether BaFin and accounting watchdog FREP properly applied European guidelines on enforcing the reporting of financial information.

Sustainable Finance

The Role of Derivatives Markets in Sustainable Finance

By Editors | 16/07/2020

The derivatives market can contribute in the transition towards a low-carbon economy, due its ability to facilitate capital-raising via the hedging of risks related to sustainable investments.

Clearing & Post-Trade

SFTR Reporting Regime Goes Live for Sell-Side Firms

By Editors | 13/07/2020

Banks, investment firms, CSDs and CCPs started reporting securities financing transactions to approved trade repositories on Monday.

Data Privacy

Denmark Introduces Mandatory Data Ethics Disclosure Rule

By Editors | 08/07/2020

From 1 January 2021, large and listed Danish companies will disclose information about their data ethics policy, AI tools and algorithms in annual reports.

PEPs & Sanctions

UK Imposes First Sanctions Over Human Rights Abuses

By Editors | 07/07/2020

The UK has designated 25 Russians, 20 Saudi Arabians, two Myanmar generals, and two North Korean organisations. Their UK assets will be frozen.

Climate Risk

BOE Sets Deadline for UK Firms to Embed Climate Risk

By Editors | 07/07/2020

By end-2021, financial firms will have to be able to demonstrate that their approaches to managing climate-related financial risk have been implemented and embedded in their organisations.