| February 24, 2022 | "Irreverent, but never irrelevant" | | |  | John Lothian
Publisher
John Lothian News | |
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Hits & Takes
John Lothian & JLN Staff
I have a correction from yesterday's Joe Ritchie comments. It was not Blair Hull who was the recipient of the Texas Instrument calculator programmed with the Black Scholes formula, but rather the late Steve Fossett. Fossett and Ritchie became lifelong friends and Ritchie even served as mission control director for two of Fossett's balloon trips around the world. They also set an aviation speed record together, with Fosset serving as Ritchie's copilot after Fossett had flown across the U.S. in record time. That is what I get for writing comments at 11:30 PM at night.
Steve Sears has a timely piece in Barron's titled "How to Use Options to Cash In on Stock Market Fear." My question is, what fear? I don't see any fear. Panic maybe, fear, no.
Bloomberg reports that Russia's richest have lost $32 billion this year, which would make me fearful.
To really stick it to the Russians for invading Ukraine, the German soccer team Schalke stripped the name of the Russian gas giant Gazprom from its jerseys.
The U.S. Secret Service posted a video to its YouTube channel (who does not have their own?) about the risks of crypto currencies. The title of the video is "Secret Service: Safeguarding the next generation currency." Here is the description of the video:
Since its creation in 1865, the United States Secret Service has been tasked with safeguarding the integrity of the nation's economy. Initial efforts focused on putting an end to rampant counterfeiting taking place in the years following the American Civil War, a time in which as much as 30% of circulating currency was thought to be illicit. As individuals and organized networks evolved and sought new ways to defraud the public, special agents and criminal investigators with the Secret Service have responded, applying their experience and expertise to preventing other financially motivated crimes such as illicit credit card schemes, fraudulent wire transfers, computer fraud and abuse, and, most recently, the illicit use of digital assets, including cryptocurrencies to facilitate crimes like ransomware attacks.
Here is some good news about how Washington regulation can actually make our lives better. The FTC, or Federal Trade Commision, is going after those companies behind those annoying auto warranty robocalls, the Washington Post reported. I will sometimes get multiple calls a day on my cell phone from these robocalls.
Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality and justice.~JJL
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As the Fed considers minting the first digital dollar, it is tapping experts from a crypto company with a stake in the outcome; The ties point to the rapid emergence of a revolving door between the crypto industry and the government.
Tory Newmyer - Washington Post
As Federal Reserve officials consider whether to launch a digital version of the dollar, several former officials of one company with a direct stake in the outcome are working to inform the project, a new report based on public records finds.
/jlne.ws/3pbNsbm
***** What conflicts? I don't see any conflicts.~JJL
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Twitter Responds to Ukraine Crisis With Tips on Deleting Account
Vlad Savov - Bloomberg
Company posts advice for use in conflict zones in Ukrainian; Advises securing accounts and protecting tweets as first steps
Twitter Inc. issued advice on using its service in conflict zones or high-risk areas after Russian forces attacked targets across Ukraine on Thursday. The tweet thread, articulating best practices for security in English and Ukrainian, included a suggestion to deactivate accounts if that proved to be the safest approach. The company urged users to employ two-factor authentication, strong passwords and email and phone number confirmations for actions such as password resets. It advised users to be careful about disclosing personal information, and to disable tweet location data.
/jlne.ws/3LXsPcD
***** Some of the best information you can get about what is going on in Ukraine is available on Twitter. It is like raw intel, but you are getting man or woman on the street reports. But, there are dangers.~JJL
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Crypto Industry Masters Washington's 'Revolving Door' as Its Influence Grows
Allyson Versprille - Bloomberg
Ex-regulators steadily joining crypto ranks, new report finds; Hiring spree also features execs joining government agencies
People are increasingly moving between jobs in crypto and the government agencies that police the industry, raising potential conflicts of interest that could undermine efforts to rein in the sector, according to a watchdog group. There have been nearly 240 instances of crypto's so-called revolving door, where employees leave the government for the private sector and vice versa, according to a new report by the Tech Transparency Project.
/jlne.ws/3vfOfMa
***** There are a whole wall of revolving doors.~JJL
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Cities with an average home price of $1 million tripled last year
Mike Winters - CNBC
The number of "million-dollar cities" with home listing values exceeding an average of $1 million has tripled since 2020, according to recent Zillow data. With the average price of a home up 19.6% last year, according to Zillow, 146 new "million-dollar cities" were added in 2021 — the most ever in one year — bringing the total number to a new record of 481.
/jlne.ws/3BOBuJH
***** A million bucks is not what it used to be.~JJL
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Wednesday's Top Three
Blockchain takes a step forward in our #1 story from yesterday. The press release from Intercontinental Exchange topped our charts with, Intercontinental Exchange Announces Strategic Investment in tZERO Group, Inc. Second was the Bloomberg story, NYSE Owner Gets on Board With Crypto-Powered Revamp of Trading. Seeing a trend here? Third was the scary story, The New York Times' Putin Is Making a Historic Mistake.
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| All MarketsWiki Sponsors» | | | | | | | John Lothian News (JLN) is the news division of John J. Lothian & Company, Inc. (JJLCO). The online media and financial services firm is staffed by derivatives industry, journalism and technology professionals. | | | | | | | John Lothian News Editorial Staff: | | | John Lothian
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| Lead Stories | Russia invades Ukraine in Europe's 'darkest hours' since WWII
Natalia Zinets and Aleksandar Vasovic - Reuters
Russian forces invaded Ukraine on Thursday, assaulting by land, sea and air in the biggest attack by one state against another in Europe since World War Two. Missiles rained down on Ukrainian cities. Ukraine reported columns of troops pouring across its borders from Russia and Belarus, and landing on the coast from the Black and Azov seas.
/jlne.ws/3Ih2SSV
London Stock Exchange expands stocks clearing in Paris
Reuters Staff
The London Stock Exchange (LSEG) expanded its Paris-based clearing service on Thursday as it adjusts to a post-Brexit landscape where Britain's financial sector faces being increasingly cut off from the European Union.
/jlne.ws/359X3IG
Hong Kong stock exchange operator HKEX posts record US$1.6 billion profit for 2021 as daily turnover soars; The growth came mainly from higher trading and clearing fees on the back of a 29 per cent increase in average daily turnover; Financial Secretary's proposed listing reform to allow large pre-profit and pre-revenue start-ups to list may help improve poor IPO market
Enoch Yiu - South China Morning Post
Hong Kong Exchanges and Clearing (HKEX), which operates the third-largest stock market in Asia, posted a record annual profit for a fourth consecutive year as brisk trading lifted revenue and earnings to record highs. The bourse operator posted a 9 per cent increase in net profit to HK$12.54 billion (US$1.6 billion) for 2021, or HK$9.91 per share, according to an exchange filing on Thursday. Its earnings, however, trailed a consensus forecast for a 14 per cent increase, according to analysts tracked by Bloomberg.
/jlne.ws/3JQUfix
Hong Kong Exchanges Touts IPO Backlog After Record Annual Profit; IPOs raised the equivalent of $42.5 billion last year, though nearly two-thirds of that came in the first half
By Dave Sebastian - WSJ
Hong Kong's stock-exchange operator reported record annual profit for 2021, boosted by a flurry of Chinese listings, and despite a steep drop-off in share sales andhttps://images.wsj.net/im-491828?width=860&size=1.5&pixel_ratio=2 stock trading in the second half of the year. Hong Kong Exchanges and Clearing Ltd. 388 -5.42% has been a major beneficiary of Hong Kong's deepening financial ties with China, as well as the decoupling of Chinese companies from U.S. markets, and is one of the world's most valuable publicly traded exchange firms.
/jlne.ws/3sfYrCr
China uncovers problems in inspection of financial sector - Xinhua
Reuters Staff
Chinese anti-corruption inspectors from the ruling Communist Party have uncovered a number of weaknesses in the financial sector in a two-month investigation, Xinhua news agency said on Thursday. China's top anti-graft watchdog has concluded an inspection of 25 institutions including the central bank, the banking and insurance regulator, stock exchanges, commercial banks and asset-management companies, in the country's first coordinated inspection of the sector since 2015.
/jlne.ws/3JLnoeS
LCH SA connects EquityClear to Cboe and Aquis Exchange Europe; Additional routes to clear European equities will offer users increased margining and settlement netting efficiencies.
Wesley Bray - The Trade
The London Stock Exchange's France-based clearing house LCH SA has connected its EquityClear service to Cboe Europe - including its off-book trade reporting service BXTR - and Aquis Exchange Europe. Using EquityClear, customers trading on these venues and those reporting on BXTR can clear, net and settle trades at LCH SA alongside equities traded on Cboe UK, Turquoise Europe and Turquoise UK.
/jlne.ws/3M13HBF
Czech president: Russia should be cut off from SWIFT
Reuters Staff
Czech President Milos Zeman, who had in the past promoted warm relations with Moscow, said on Thursday Russia's attack on Ukraine was "crime against peace" and required a response through harsh sanctions including cutting the country from the SWIFT international payments system. "It is time to reach for much tougher sanctions than those originally planned, by which I mean above all a sanction in the area of the so-called SWIFT," Zeman said in a speech.
/jlne.ws/3JSftMO
Is this the new face of organized crime? Decoding Razzlekhan, the rapping bitcoin fraudster; Heather Morgan, the wannabe Tiktok and hip-hop star, and her husband allegedly stole $4.5bn worth of cryptocurrency
Luke Winkie - The Guardian
Heather Morgan is free, for now. The 31-year-old fraudster was offered bail on Valentine's Day, releasing her from incarceration while her husband, Ilya "Dutch" Liechtenstein, remains in federal bondage. Morgan is at the centre of a psychedelic cryptocurrency saga, that began when the pair were arrested on suspicion of laundering $4.5bn worth of stolen bitcoin. That money was originally pilfered from a Hong Kong-based crypto exchange firm called Bitfinex, and it breaks the record for the most digital currency that's ever been seized by a criminal sting operation. (The pair allegedly spent the money on NFTs, gold and a Walmart gift card.) It's the first major crime saga of the Web3 era - Blockchain noir, ripe for a Safdie Brothers film - and each twist in the storyline is more implausible than the last.
/jlne.ws/3vg4f0Q
Court allows NYSE not to disclose certain revenue info in HFT case
Maria Nikolova - FXNewsgroup
The New York Southern District Court has sided with NYSE that certain of its revenue spreadsheets should remain under seal in a high-frequency trading (HFT) lawsuit. The relevant order, seen by FX News Group, was signed by Judge Jesse M. Furman on February 23, 2022. This lawsuit was filed back in 2014 on behalf of investors that traded on a registered public stock exchange or a U.S.-based alternate trading venue, between April 18, 2009 and the present, and asserted claims against: (1) registered public stock exchanges located in the United States; (2) a class of brokerage firms; and (3) a class of HFT firms. The lawsuit targets some of the biggest US stock exchanges, including NYSE, Nasdaq and Bats.
/jlne.ws/3BVuefi
Europe Is Desperate for Aluminum and Traders Are Getting Creative; Buyers in Europe are paying steep premiums to get hold of metal.
Mark Burton and Archie Hunter - Bloomberg
A critical shortage of aluminum in Europe has sent regional prices spiking, opening opportunities for commodities traders who have seized on a rare profit to be made shipping metal from warehouses 6,000 miles away.
/jlne.ws/33PU33M
Stablecoins Soar in Value as Everything Else in Crypto Shrinks
Katherine Greifeld - Bloomberg
Massive Bitcoin drawdown, price swings boost stablecoin appeal; Traders are parking cash in stablecoins in haven bid: Malcolm
The hottest spot in crypto right now is coins with prices that don't move. Stablecoins, cryptocurrencies which peg their value to assets such as the U.S. dollar, have ballooned in size over the past few months as Bitcoin and other coins whipsaw. The total market capitalization of stablecoins currently stands around $180 billion, up from roughly $38 billion a year ago, Coin Metrics data compiled by The Block show. By comparison, the total crypto universe is largely stagnant over the past year.
/jlne.ws/3HgmvJJ
Bank of America executive to leave Hong Kong as exodus continues; Craig Coben is lender's most senior departure as tough Covid rules force global groups to rethink operations
Tabby Kinder and Arash Massoudi - FT
Bank of America's co-head of global capital markets in Asia-Pacific is leaving Hong Kong after less than two years as harsh pandemic restrictions prompt an exodus of executives from the territory.
/jlne.ws/3JSyi2E
LCH SA further expands European equities offering with connections to new trading venues
LCH
LCH SA has completed connections to Cboe Europe BV (including the Cboe Trade Reporting Service) and Aquis Exchange Europe; Market participants benefit from additional routes to clear European equities at LCH SA; Increases margining and settlement netting efficiencies available to EquityClear SA customers
LCH, part of LSEG (London Stock Exchange Group) today announced that its EquityClear service at LCH SA is now connected to Cboe Europe BV (including the off-book trade reporting service BXTR) and Aquis Exchange Europe. Customers trading on these venues as well as those trade reporting on BXTR can clear, net and settle trades at LCH SA alongside equities traded on Cboe UK, Turquoise Europe and Turquoise UK through the preferred clearing model.
/jlne.ws/36DRQJK
tZERO ATS Successfully Launches Clearance & Settlement Functionality for Securities Transactions
tZERO
NEW YORK-tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today that its broker-dealer subsidiary, tZERO ATS, successfully launched support for clearing and settlement securities transactions for itself and its broker-dealer affiliates on February 22, 2022, a key milestone for tZERO's next-generation trading ecosystem. tZERO's broker-dealer subsidiaries are now able to independently onboard additional private securities at a faster pace, accelerate the settlement times of transactions on its private security trading platform, and improve the user experience in transferring cash and securities to and from third-party platforms.
/jlne.ws/3LT8bKF
Global finance shores up defences as Ukraine crisis slams shares
Tom Sims, Iain Withers and Megan Davies - Reuters
Europe's financial sector suffered heavy share price falls on Thursday, with U.S. banks set to follow suit, as it grappled to respond to Russia's invasion of Ukraine. Among initial measures, Allianz (ALVG.DE) disclosed that it had frozen its Russian government bond exposure, while British lender Lloyds said it was on "heightened alert" for cyberattacks.
/jlne.ws/3veDLg8
AirCarbon Collaborates With Abu Dhabi Global Market to Achieve World's First Carbon Neutral International Financial Centre
?AirCarbon Collaborates
AirCarbon Exchange (ACX) has partnered with Abu Dhabi Global Market (ADGM), a leading International Financial Centre (IFC) and global platform for accelerating sustainable finance, to offset ADGM's 2021 carbon emissions and enable it to become the world's first carbon neutral IFC.
/jlne.ws/3haVyN1
Pay Hikes Fail to Lure Millennials Back to Work in Fed Study
Steve Matthews - Bloomberg
Paper shows younger generations are less responsive to wages; Atlanta Fed economist urges non-pay incentives, flexible work
U.S. employers struggling to fill jobs would be better off offering flexible work arrangements and other incentives to younger workers because pay increases aren't enough to lure them back to the labor market, according to a study by the Federal Reserve Bank of Atlanta.
/jlne.ws/358PzFT
Texas Spurs Copycats as States Punish Banks That Snub Oil and Gas
David Wethe and Shelly Hagan - Bloomberg
Koch-funded groups push bills against 'energy discrimination'; Texas, buoyed by tech, protects its traditional mainstay
State legislatures across the U.S. are drafting bills to prohibit business with finance firms that restrict ties to the oil and gas industry, following in the footsteps of Texas.
/jlne.ws/3haVWuX
Russia Is Aiming for a Rapid Destruction of Ukraine's Forces
Marc Champion -Bloomberg
Putin likely to avoid getting bogged down in cities for now; Attempt to capture Kyiv through urban warfare seen as unlikely
Russia's invasion of Ukraine is following an early progression many military analysts had predicted, with an intense barrage of missile attacks launched from afar to destroy Ukraine's airfields, air defenses and control systems.
/jlne.ws/3LZFZWm
Bank of Russia Rolls Out First Emergency Measures as Ruble Dives
Anna Andrianova - Bloomberg
The Bank of Russia unveiled its first emergency measures in an attempt to stabilize the financial market after President Vladimir Putin ordered an attack Ukraine.
/jlne.ws/3LXtMBL
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| Wellness Exchange | | An Exchange of Health and Wellness Information | Why Hong Kong Is Now One of the Worst Places to Be in Covid Era
Rachel Chang and Kevin Varley - Bloomberg
Hong Kong fell to second last among the 53 places scored in Bloomberg's Covid Resilience Ranking in February, marking a rapid decline over the past few months. The financial hub has dropped to the lowest position ever occupied by a developed economy in the 16 editions of the measure, which tracks the best and worst places to be in the pandemic. After flying as high as ninth a year ago, in January 2021, Hong Kong's worst ever outbreak is crippling its pursuit of Covid Zero and paralyzing the once-vibrant economy.
/jlne.ws/3M0c4h5
Hong Kong's coronavirus surge leaves the most vulnerable without a place to isolate
Theodora Yu - Washington Post
When Chan, a Hong Kong construction worker, tested positive for the coronavirus, he had nowhere to go. The 38-year-old shared a cramped apartment with seven others, including a toddler and his aging father. So he moved into the stairwell.
/jlne.ws/3heLfre
Coronavirus vaccine protection was much weaker against omicron, data shows
Dan Keating and Naema Ahmed - Washington Post
While coronavirus shots still provided protection during the omicron wave, the shield of coverage they offered was weaker than during other surges, according to new data from the Centers for Disease Control and Prevention. The change resulted in much higher rates of infection, hospitalization and death for fully vaccinated adults and even for people who had received boosters.
/jlne.ws/3JHRBeW
Money Can't Soothe Hong Kong's Lockdown Anxiety; The budget has delivered handouts and relief efforts to the territory's pandemic-weary people. Still, some version of lockdown may be unavoidable.
Matthew Brooker - Bloomberg
Rarely has a Hong Kong budget been presented in such gloomy circumstances. The city is in its coldest spell of the year, and has been sodden by several days of persistent rain. As omicron cases spiral and the health system is overwhelmed, the specter of a full-scale lockdown still hangs over a Covid-fatigued population. The pandemic made its presence felt from the outset Wednesday, with Financial Secretary Paul Chan forced to forgo an appearance before the legislature and deliver his speech by video instead.
/jlne.ws/3heMaYI
Africa CDC Urges Vaccine Donors to Stagger Deliveries of Shots
Katarina Hoije and William Clowes - Bloomberg
The African Union's public health agency urged Covid-19 vaccine donors to help ensure that the distribution of shots is aligned with take-up so that all of them are used.
/jlne.ws/3JNCqAU
Covid Shots, Drugs Position U.S. to Ease Limits, Fauci Says
Fiona Rutherford - Bloomberg
Covid-19 vaccines, drugs and tests are putting the U.S. in an improved position to pull back on restrictions such as masking that were enacted to limit the spread of the virus, White House medical adviser Anthony Fauci said. Covid drugs like Pfizer Inc.'s Paxlovid that keep high-risk patients from hospitalization and death are becoming plentiful as production ramps up, Fauci said in an interview on Bloomberg Television's "The Close."
/jlne.ws/3BL5w14
Analysis-China steps in to steer Hong Kong's COVID crisis as risks loom
James Pomfret and Greg Torode - Reuters
As COVID-19 rages across Hong Kong at the start of a sensitive political year for China and President Xi Jinping, Beijing is determined not to be embarrassed and undermined as it was by the often-violent protests that rocked the city in 2019.
/jlne.ws/3LTyaSp
Google eases pandemic rules for employees in the U.S.; The company also said it would restore many of its famed office perks.
Daisuke Wakabayashi - NY Times
As Google prepares to bring workers back to its offices, the company is relaxing some of its Covid-19 workplace policies, including a rule requiring U.S. employees to be vaccinated. But workers will still have to be vaccinated if they plan to use the company's offices.
/jlne.ws/3LY8Nyx
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| Exchanges, OTC & Clearing | | Top news from exchanges, clearing, settlement and trade execution facilities | Yesterday's Quarterly Business Review Webinar is now available on YouTube.
ABAX
/jlne.ws/3pcZPnr
SIX Expands Its International Custody Business with a New Team in Singapore
SIX
24 February, 2022. With its new team in Singapore, SIX can now provide onsite, bespoke client services to its international custody customers in Asia as well. This is an additional important step after SIX opened an office for its international custody business in the US in July 2021. After an exchange of information with the Monetary Authority of Singapore (MAS), SIX is now able to provide custodial services.
/bit.ly/3se2yPu
EBS Market Integration Notice: New Content and Updates
CME Group
EBS Market Integration onto CME Globex
Subject to applicable regulatory approvals, EBS Market's Central Limit Order Book and eFix Matching Service will launch on CME Globex. You will receive subsequent notices with additional details and actions required to support the EBS Market integration onto CME Globex.
/bit.ly/3haHEKP
Notice Of Summary Action; Member Firm: HNK ALPHA PTE LTD
CME Group
Rule Violation: Rule 576. Identification Of Globex Terminal Operators
/bit.ly/33MTc3P
Notice Of Summary Action; Member Firm: HNK ALPHA PTE LTD
CME Group
Rule Violation: Rule 576. Identification Of Globex Terminal Operators
/bit.ly/3haGEX5
HKEX Consolidated Financial Statements
For the year ended 31 December 2021
HKEX
/bit.ly/33PIZ6K
HKEX 2021 Final Results
HKEX
/bit.ly/3HjgPyB
Presentation by HKEX Chief Executive Officer Nicolas Aguzin and Group Chief Financial Officer Vanessa Lau on 2021 Final Results AnnouncementPDF
HKEX
Nicolas Vanessa Aguzin Lau Group Chief Executive Officer, HKEX Group Chief Financial Officer, HKEX
/bit.ly/33PW9k8
Intercontinental Exchange Chief Financial Officer Warren Gardiner to Present at the Raymond James 43rd Annual Institutional Investors Conference on March 8
Intercontinental Exchange, Inc.
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, announced today that Warren Gardiner, ICE's Chief Financial Officer, will present at the Raymond James 43rd Annual Institutional Investors Conference. The presentation will take place on Tuesday, March 8 at 10:25 am EST. The presentation will be available live and in replay via webcast and can be accessed in the investor section of ICE's website at http://ir.theice.com/.
/jlne.ws/3pdbEdr
ICE Announces First Expiry in ICE Midland WTI American Gulf Coast Futures With 1.4 Million Barrels Going to Delivery in March
ICE
Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology, and market infrastructure, today announced that ICE Midland WTI American Gulf Coast futures (contract code: HOU) went to its first expiry on February 23, with 1,395 contracts going to expiry, equivalent to 1.4 million barrels, for delivery in March.
/bit.ly/3t64MzG
Nasdaq Launches Nasdaq Universal Test Facility in Partnership with Sequitor
Nasdaq
Nasdaq (Nasdaq: NDAQ) today announced the launch of Nasdaq Universal Test Facility, a new and innovative market testing and simulation solution aimed at financial institutions looking to further improve the efficiency, market readiness and resiliency of their trading systems. The service has been developed in collaboration with Sequitor Engineering, a Swedish fintech startup.
/jlne.ws/3sea1y2
Nasdaq CFO Ann Dennison to Present at Raymond James 43rd Annual Institutional Investors Conference
Nasdaq
/jlne.ws/3IkyI1d
NYSE Arca Equities - Temporarily Widens Core Opening Auction Price Collars to 10%
NYSE
On Thursday, February 24, 2022, NYSE Arca Equities will temporarily widen the price collars for its Core Open Auction to 10% for all securities per NYSE Arca Rule 7.35-E (a)(10)(A). The price collars for the Closing Auctions and Halt Re-opening Auctions remain unchanged.
/jlne.ws/3Ijl9zc
SIX Expands Its International Custody Business with a New Team in Singapore
SIX
With its new team in Singapore, SIX can now provide onsite, bespoke client services to its international custody customers in Asia as well. This is an additional important step after SIX opened an office for its international custody business in the US in July 2021. After an exchange of information with the Monetary Authority of Singapore (MAS), SIX is now able to provide custodial services.
/jlne.ws/3JLtw6M
SGX welcomes LS 2 Holdings Limited to Catalist
SGX
Singapore Exchange (SGX) is pleased to welcome LS 2 Holdings Limited to its Catalist under the stock code "ENV". LS 2 Holdings is a Singapore-based integrated environmental services provider with more than 20 years of established track record. They specialise in providing a full suite of cleaning services as well as pest control and waste management services. An early adopter of innovative cleaning solutions, LS 2 Holdings has a strong customer base from both the private and public sectors, including major customers from government agencies and town councils.
/jlne.ws/3p9tC0s
TMX - Newsroom - Press Releases
TMX
TSX Venture Exchange (TSXV) today announced the 2022 TSX Venture 50?, the Exchange's annual program showcasing the top-performing listed companies from five industry sectors: Clean Technology and Life Sciences, Diversified Industries, Energy, Mining, and Technology.
Representatives of the 2022 Venture 50™ companies will join TMX executives this morning for a virtual market open at 9:30 a.m. ET to celebrate the achievement.
/jlne.ws/3HdmJBf
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| Fintech | | A roundup of today's market tech news and a look at tomorrow's disruptors | TNS Celebrates European 'Managed Services Solutions for Trading' Award Win
Transaction Network Services
Transaction Network Services (TNS) has won 'Best Managed Services Solutions for Trading' at the prestigious TradingTech Insight Europe Awards 2022. Established to acknowledge excellence in solutions and services for capital markets, the industry awards focus on vendors that provide exceptional offerings across infrastructure, technology and data.
/jlne.ws/3t5mNOm
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| Cybersecurity | | Top stories for cybersecurity | Russia-backed hackers behind powerful new malware, UK and US say
Kari Paul and Dan Milmo - The Guardian
A cyber report published by intelligence agencies in the UK and US on Wednesday has attributed insidious new malware to a notorious Russia-backed hacking group.
The findings come amid concerns of potential Russian cyber-attacks against Ukraine as the threat of war in the region grows.
/jlne.ws/3LXvVxh
Russia-Ukraine conflict creates best time for these cybersecurity stocks in a decade
Tomi Kilgore - MarketWatch
There's one sector that is poised to benefit from worries over how Russia will respond to U.S. sanctions following what President Joe Biden called the beginning of invasion of Ukraine — cybersecurity.
Based on recent conversations with chief information security officers and some political contacts in Washington, D.C., Wedbush analyst Dan Ives said there was a growing concern that "massive cyberwarfare" could be on the horizon that would spark an increase in advanced-persistent-threat (APT) spending to prevent Russia-based cyberattacks.
/jlne.ws/3Ij9Eb0
Asia most targeted region in 2021, taking on one in four cybersecurity attacks
Eileen Yu - ZDNet
Asia was the most targeted region last year, accounting for one in four cybersecurity attacks launched worldwide. Japan, Australia, and India experienced the most incidents in the region, where server access and ransomware were amongst the most popular forms of attacks.
Financial services and manufacturing organisations also bore the brunt of attacks in Asia, taking on almost 60% of such incidents, according to IBM's annual X-Force Threat Intelligence Index. IBM Security monitors 150 billion security events daily across more than 130 countries, pulling from data sources such as network and endpoint detection devices, incident response engagements, and phishing kit tracking.
/jlne.ws/3hal44U
IT And Cybersecurity Report Card: Assessing The Biden Administration's First Year
Gordon Bitko - Forbes
The Biden Administration's Build Back Better effort outlines what the administration plans to do to enable the U.S. recovery from the pandemic while addressing the challenges of climate change and inequity. However, behind this marquee strategy is the President's Management Agenda, which outlines how the administration seeks to drive these changes. Technology is the essential framework for the execution of the agenda. In the document, the administration calls out the need to improve government digital services, upskill the federal workforce, and reform fundamental processes such as acquisition, financial and personnel management to advance its Build Back Better objectives. These reforms require specific technology-focused actions, including but not limited to enhancing federal IT, strengthening federal cybersecurity, building data management and data science capabilities, and increasing public-private cooperation. One year in, here is an assessment of the administration's progress:
/jlne.ws/3IgF55N
As Russia strikes, CISOs, security pros are fielding a lot of calls...
The Stack
Warnings from security vendors as well as public authorities about Russian cyber-activity are not uncommon. As both a go-to bogeyman for cybersecurity marketing teams and a genuinely advanced and persistent threat, the risk of hostile nation state cyber activity is "priced in" at most competent and well-resourced organisations. Without credible intelligence about a particular campaign or fresh specific tools, tactics and procedures, the latest warning about cyber threats attributed to Russia can often fall on ears that have heard the chorus before.
/jlne.ws/3BO1sNl
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| Cryptocurrencies | | Top stories for cryptocurrencies | FTX Names Lauren Remington Platt as Head of Global Luxury Partnerships; Serial Entrepreneur and Founder of On-Demand Beauty Service Provider, Vensette, will Oversee Partnerships and Expand Business Relations with Luxury Brands
FTX Trading Limited
FTX Trading Limited ("FTX") today announced the appointment of renowned fashion and beauty entrepreneur, Lauren Remington Platt, to the newly-created position of Head of Global Luxury Partnerships. In this role, she will be responsible for targeting major luxury brands that have yet to integrate with cryptocurrency, and will be working closely with Head of Environmental & Social Initiatives Gisele Bündchen.
/jlne.ws/3LT8fKp
Crypto Winter Seen Weighing On Coinbase Quarterly Results Again
Yueqi Yang and Matt Turner - Bloomberg
Shares of biggest U.S. crypto exchange mirror Bitcoin price; Revenue likely rose to a record $2 billion in fourth quarter
Coinbase Global Inc. shareholders are bracing again for quarterly results that may show the lull in cryptocurrency markets continues to dampen the enthusiasm of individual investors. The largest U.S. crypto exchange is set to report fourth-quarter results on Thursday. In recent months, it had scored an impressive Super Bowl ad, drummed up interest in its upcoming NFT marketplace, and avoided a potential hack of its new trading function. Yet its shares are trading at about 40% below November's record high, and even below the first-day opening price when it went public last April.
/jlne.ws/3LU2vjA
Crypto Venture Firm A&T Closes First Fund at $100 Million
Zheping Huang - Bloomberg
A&T Capital has completed the fundraising for a $100 million pool of capital dedicated to crypto and blockchain venture investment, the firm said in a statement Thursday.
/jlne.ws/3pesSa9
Thousand of companies in the US accept bitcoin. Here's how business owners can start taking cryptocurrencies as payment.
Dominic-Madori Davis - Insider
About 2,300 businesses in the US accepted bitcoin as a form of payment in 2020, according to a survey from the small-business financial site Fundera. However, there are nearly 10,000 different cryptocurrencies that entrepreneurs and customers can use today. Accepting cryptocurrencies as a business owner not only provides your customers with another mode of payment but also shows you're technologically savvy. What's more, e-commerce platform Shopify recently partnered with the cryptocurrency processor Coinbase to allow crypto payments through its Commerce feature.
/jlne.ws/3seewsq
Bloomberg, Elwood Technologies ink deal to offer institutional crypto trading capabilities
Anushree Dave - The Block
Elwood Technologies, the crypto-focused technology firm owned by hedge fund heavyweight Alan Howard, announced a "strategic integration" on Thursday with Bloomberg. According to details shared with The Block, the integration is geared toward the institutional clients who use the Bloomberg Asset and Management Investment Manager, or AIM, a buy-side order management system used by about 15,000 clients who, collectively, manage more than $17 trillion in assets. The idea is to tie up Bloomberg's AIM with the capabilities offered by Elwood's trading platform. =
/jlne.ws/3siePTa
To expunge his daughter's murder from the Internet, a father created an NFT of the grisly video; Andy Parker is fighting to get copyright over video of Alison Parker's shooting in a bid to remove it from social media
By Cristiano Lima - Washington Post
It starts as a routine TV news segment: an interview with the head of the local chamber of commerce
/jlne.ws/3IjT4YD
JPMorgan's top metaverse and crypto executive is leaving the bank after almost 20 years
Phil Rosen - Business Insider
JPMorgan's top metaverse and crypto exec, Christine Moy, announced her departure from the bank for an unspecified opportunity on Tuesday. Led by Moy, JPMorgan last week launched its Onyx lounge in Decentraland, becoming the first major bank in the metaverse.
/jlne.ws/3hazqSL
Hearing the N-Word in the Metaverse Is Just the Beginning: Fully Charged
Naomi Nix - Bloomberg
Some things are too real
I can still remember the first time I heard the N-word uttered aloud. I was just a kid having fun on the playground of my elementary school, when a Black boy I didn't know well used the word in passing. Though I knew he meant it innocently, I felt startled by the exchange. That moment would jumpstart a yearslong personal exploration of how Black people suffer from, respond to and repurpose words designed to demean our humanity.
/jlne.ws/3sgMA7b
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| Politics | | An overview of politics as it relates to the financial markets | New U.S. Sanctions Target Russian Company Behind Lucrative Pipeline; The move by President Biden came as administration officials warned that a Russian military assault on Ukraine could be imminent.
Zolan Kanno-Youngs and Edward Wong - NY Times
President Biden said on Wednesday that he would issue economic sanctions on the company behind a new natural gas pipeline between Russia and Germany, the latest in a series of penalties that the White House has promised will continue as Russia escalates hostilities against Ukraine.
/jlne.ws/3LXKroU
Brink's Is Reviewing Russia-Related Transactions to Comply With U.S. Sanctions, CFO Says; Cash-management company, known for its armored trucks, is concerned about potential retaliation by the Russian government
Nina Trentmann - WSJ
Cash-management company Brink's Co. has started reviewing its client transactions in and out of Russia to ensure it complies with newly introduced U.S. sanctions against the country, its finance chief said. "We transport U.S. dollar and other currencies around the world, either to central banks or other banks. That is now impacted by the sanctions," Chief Financial Officer Ron Domanico said.
/jlne.ws/3t7GDbQ
UK PM Johnson vows massive sanctions against Russia
Kylie Maclellan and William James - Reuters
Prime Minister Boris Johnson said Britain and its allies would unleash a massive package of economic sanctions to hobble the Russian economy after the Kremlin launched an all-out invasion of neighbouring Ukraine on Thursday.
/jlne.ws/3JP7b8p
How a German state helped Moscow push a pipeline, weakening Ukraine
Thomas Escritt and Sarah Marsh - Reuters
In the north German state of Mecklenburg-Vorpommern, where former Chancellor Angela Merkel was born, ties to Russia run deep - so deep, in fact, its leaders have defended a Kremlin project that the United States says helped cripple Ukraine.
/jlne.ws/3IjhRfm
What the West doesn't understand about Russia or Ukraine
Alexander Nazaryan - Yahoo News
"You have to understand, George. Ukraine is not even a country." Those were the jarring — and, it would turn out, prescient — words uttered by Russian strongman Vladimir Putin in 2008, during a meeting with then-President George W. Bush. It was an unambiguous assertion of ownership over a sovereign nation, an assertion that has particular resonance 14 years later, as Putin has just recognized the independence of two Ukrainian regions and sent troops to bolster Russian-backed separatists.
/jlne.ws/3sgeFeV
Lithuania declares state of emergency after Russia invades Ukraine
Reuters
Lithuania's president declared a state of emergency on Thursday, telling the NATO country's army to deploy along its borders in response to "possible disturbances and provocations due to large military forces massed in Russia and Belarus".
/jlne.ws/3LY8CmR
Saxo Bank Issues Warning about Ruble Volatility; Russian assets are adversely affected by geopolitical concerns; Saxo Bank may suspend transactions or introduce restrictions in such instruments
Finance Magnates
Saxo Bank, a popular Danish investment bank specializing in online trading and investment, has commented about challenges associated with Russia-related assets' volatility.
/jlne.ws/3hdgZ00
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| Regulation & Enforcement | | For more regulatory, visit MarketsReformWiki, our website focused on current market reform efforts. | ISDA responds to BoE, FCA on UK EMIR
ISDA
ISDA has responded to the joint Bank of England (BoE) and Financial Conduct Authority (FCA) consultation paper on changes to reporting requirements, procedures for data quality and registration of trade repositories under the UK's European Market Infrastructure Regulation (EMIR). This consultation puts forward proposals for aligning the UK's derivatives reporting framework with the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions' international guidance, measures for mandatory delegated reporting requirements, counterparty notifications and reconciliations processes, and the use of XML schemas and global identifiers.
/jlne.ws/3pcaL4D
CFTC Orders North Carolina Man and His Company to Pay $2.6 Million for Fraudulent Solicitation, Pool Fraud, and Failure to Register
CFTC
The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Richard D. Neal of North Carolina and his company Golden Signals LLC, a formerly registered North Carolina limited liability company, for engaging in fraud while acting as a commodity trading advisor (CTA) and commodity pool operator (CPO), for failing to register as a CTA and CPO, and for advertising without making disclosures required by CFTC regulations.
/jlne.ws/3tmmdw7
Verena Ross speaks at the EUROFI High Level Seminar 2022
ESMA
Today, Verena Ross, ESMA Chair, has delivered a speech at the EUROFI High Level Seminar taking place in Paris on 23, 24 and 25 February 2022.
/jlne.ws/3t1MY8U
MAS issues Prohibition Order against Zeng Xuan for fraudulent and dishonest conduct
Monetary Authority of Singapore
The Monetary Authority of Singapore has issued a five-year prohibition order (PO) against Ms Zeng Xuan, a former representative of Oversea-Chinese Banking Corporation Limited, following her conviction in the State Courts for an offence involving fraud and dishonesty.
/jlne.ws/3t3jhEb
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| Investing & Trading | | Today's top stories from equities, indices and FICC (fixed income, currencies and commodities) | Stagflationary Shock May Be Next Risk for Plunging Stock Markets
Nikos Chrysoloras, Jan-Patrick Barnert, and Ishika Mookerjee - Bloomberg
Russia's attack on Ukraine triggers commodity price spikes; Conflict may weigh on growth, amid broad inflationary pressure
For equity markets, rising inflation was already a big concern. Russia's attack on Ukraine means those worries just got a whole lot bigger. Vladimir Putin's move to invade his neighbor led to a surge in the price of everything from oil and food to natural gas and aluminum, spikes that could choke economic activity and exacerbate a market rout.
/jlne.ws/3HmbjuV
Gold Surges to 15-Month High as Attack on Ukraine Boosts Havens
Eddie Spence and Ranjeetha Pakiam - Bloomberg
Putin orders attacks on Ukraine; Biden warns on sanctions; Gold to rise to $2,000 an ounce if conflict escalates: Natixis
Gold surged to the highest since 2020 after Russian forces attacked targets across Ukraine, triggering the worst security crisis in Europe since World War II and crushing risk sentiment. President Vladimir Putin vowed to "demilitarize" Ukraine and replace its leaders, while the West threatened additional sanctions in response. U.S. President Joe Biden announced he would impose "further consequences" on Russia after what he called an "unprovoked and unjustified attack."
/jlne.ws/3t1BSAx
The $200 Billion Club Loses Last Member as Elon Musk's Wealth Tumbles
Jill R Shah - Bloomberg
No person on the planet has a fortune of more than $200 billion -- at least for now. Elon Musk, the only billionaire who still exceeded that threshold heading into this week, saw his wealth tumble by $13.3 billion on Wednesday to $198.6 billion. Tesla Inc. shares fell for the fourth-straight day to the lowest level since September amid a broad decline in stock markets around the globe.
/jlne.ws/3HkGuqy
SPACs Are Scrambling to Find Mergers. What That Means for Investors.
Luisa Beltran- Bloomberg
The clock is ticking for many special-purpose acquisition companies, or SPACs, formed in 2020, including the biggest, Bill Ackman's $4 billion Pershing Square Tontine PSTH+0.10% Holdings. They all have just months to find a deal or risk having to give investors back their money. Some 602 SPACs, also known as blank-check companies, with a combined $162.4 billion in funds, are currently out hunting for acquisitions, according to data from SPAC Research.
/jlne.ws/3IhxvIf
How to Use Options to Cash In on Stock Market Fear
By Steven M. Sears - Barron's
ooting war erupt in Ukraine, stock prices will likely tumble and bearish options premiums will likely surge. The combination of battered equities and elevated implied volatility should present long-term investors with opportunities to increase positions in stocks that they own, or to establish positions in stocks they have waited to buy as prices rallied ever higher.
/jlne.ws/353qqfK
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| Environmental, Social and Corporate Governance | | Stories about environmental, social and governance investing | EXCLUSIVE Apollo targets $50 bln in sustainable investments with new platform
Greg Roumeliotis - Reuters
Apollo Global Management Inc (APO.N), a manager of alternative assets, launched a sustainable investing platform on Thursday, targeting the deployment of $50 billion in decarbonization and energy transition opportunities over the next five years.
/jlne.ws/3veCTrY
Most don't see enough Black influence and representation in corporate America, politics, policing — CBS News poll
Kabir Khanna - CBS News
When it comes to Black influence and representation in the U.S., most agree there's still room for improvement. Americans generally don't think Black Americans have enough representation in various areas, including in corporate America, politics, and law enforcement.
/jlne.ws/3HhVHIQ
Climate change may increase wildfires by 50% by 2100, study finds
David Knowles - Yahoo News
Thanks in large part to climate change, the world's future will be marked by a dramatic increase in wildfires, according to a new report by the United Nations Environment Program. The report cites two primary factors — climate change and land-use change — as driving an increase in extreme wildfires, and it projects that their number will rise by 14 percent by 2030, by 30 percent by the end of 2050 and by 50 percent by 2100.
/jlne.ws/3haJ9J1
Why Green Investors Are Buying Dirty Coal; Traditional power companies are hardly market darlings right now—and that is resulting in some interesting takeover bids
Jacky Wong - WSJ
Big carbon emitters have been shunned by the market in recent years. Ironically, that is making environmentally conscious investors more interested in them. Take the latest example from Down Under. Australian energy and power company AGL Energy, AGL -0.65% the country's largest carbon emitter, on Monday rejected a $3.5 billion bid from a consortium that aims to speed up the power company's decarbonization effort. The consortium includes Canadian asset manager Brookfield Asset Management and tech billionaire Mike Cannon-Brookes, who co-founded the $71 billion software company Atlassian Corp. Mr. Cannon-Brookes has been an outspoken advocate for clean energy and his Twitter exchange with Elon Musk in 2017 prodded Tesla to build the world's then largest lithium-ion battery in South Australia. Brookfield is expected to complete this year its purchase of power and gas distributor AusNet for 10.2 billion Australian dollars, the equivalent of $7.4 billion.
/jlne.ws/3IkzIlZ
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| Banks, Brokers & Managed Funds | | The latest from banks, brokers, hedge funds and managed futures | Lloyds' New CEO Sets Out £3 Billion Three-Year Strategy For Bank
Aisha S Gani - Bloomberg
Plan includes boosting wealth and building out corporate bank; Charlie Nunn took over as chief executive officer in August
When Charlie Nunn inherited one of Britain's biggest jobs in finance last summer, his first task was to simply steer through the Covid-19 pandemic. Six months into the role, he's set out his longer-term strategy for Lloyds Banking Group Plc alongside his first annual results as chief executive officer. Over the next three years he plans to spend 3 billion pounds ($4 billion) on initiatives including bulking up its digital offerings, wealth products, corporate bank and expanding its role as a landowner through Citra Living.
/jlne.ws/3Ik24gm
Barclays Names Cross as Finance Director, Capping C-Suite Change
Tom Metcalf - Bloomberg
Deputy Group CFO Anna Cross to succeed Tushar Morzaria; Cross joined Barclays in 2013, previously worked at Lloyds
Barclays Plc named Anna Cross as its new chief financial officer, the latest change at the top of the bank after Jes Staley's departure in November. Cross will replace Tushar Morzaria, who is retiring after more than eight years in the role, on April 23, according to a statement Wednesday. Morzaria will stay on at the lender as chairman of the investment bank's Financial Institutions Group.
/jlne.ws/35nqhUu
Ex-Goldman Banker's Trial to Pause on U.S. Documents Blunder
Patricia Hurtado and Greg Farrell - Bloomberg
Prosecutors failed to share over 15,500 documents with defense; Evidence relates to Tim Leissner, U.S. star witness against Ng
Tim Leissner was supposed to be the U.S. government's star witness in the bribery case against Roger Ng, the only Goldman Sachs Group Inc. banker to go to trial in the multibillion-dollar 1MDB scandal. Instead, a misstep over crucial evidence about Leissner could end up tanking the case, after the U.S. disclosed that it failed to turn over to the defense more than 15,500 documents related to him.
/jlne.ws/3JOiLAT
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| Regions | | Stories of local interest from the Americas, EMEA and Asia-Pacific regions | Singapore Tech Salaries Jump 22% in Chase for Skilled Coders
Low De Wei and Olivia Poh - Bloomberg
Salaries for software engineers in Singapore increased by an average of 22% last year, highlighting the need for qualified talent to sustain the city-state's burgeoning tech ecosystem, according to a report published this month.
/jlne.ws/3M0WRft
Sea Loses Title of Biggest Southeast Asia Firm to Indonesia Bank
Yoolim Lee - Bloomberg
Bank Central Asia is now bigger than Tencent-backed tech giant; Singapore's Sea has slumped after soaring in recent years
Sea Ltd. lost its title as Southeast Asia's biggest publicly traded company after its shares plunged to an 18-month low. The Singapore-based internet company was overtaken by Indonesian lender PT Bank Central Asia after its American depositary receipts slumped to $120.52 on Wednesday in New York. Its market value of $66.9 billion is down from a peak of $202.6 billion in October. Bank Central Asia's market value is $68.5 billion, and Singapore's DBS Group Holdings Ltd. is close behind at $66.1 billion.
/jlne.ws/3BLK389
India Seeks More Oil for Strategic Reserves as Prices Top $100
Debjit Chakraborty - Bloomberg
Nation seeks to fill tanks that hold about 8 million barrels; Yet to proceed with pledged sale of reserves under U.S. pact
India is seeking to expand its emergency oil stockpiles, adding to already-strong demand from domestic refiners that are cranking up run rates amid a recovery in consumption. The world's third-largest oil consumer wants to prioritize filling its empty storage tanks as soon as possible, according to Indian government officials with direct knowledge of the matter. The tanks have space to hold about 8 million barrels of oil, they said.
/jlne.ws/3BLFVoL
Saudi Wealth Fund Ramps Up Expansion With NY, London Offices
Shaji Mathew - Bloomberg
Saudi Arabia's sovereign wealth fund opened offices in New York, London and Hong Kong as part of the $500 billion asset manager's global expansion plans. "The moves are in line with PIF's continued expansion and will assist in the fund's future international growth," according to a statement.
/jlne.ws/33MVGzb
Oil Tanker Owners Avoid Russian Crude Amid Ukraine Crisis
Alex Longley and Ann Koh - Bloomberg
Russia sends about two thirds of its crude exports by sea; Owners take cautious approach after Russia invaded Ukraine
Oil tanker owners are avoiding offering their ships to collect crude from Russia as they wait to see what sanctions the country might face after invading Ukraine. Two shipbrokers and three owners said owners are currently unwilling to make offers to collect Russian barrels. The owners said that oil-freight transportation costs are also very low anyway, making it even more unattractive to do so.
/jlne.ws/3JParRb
TotalEnergies Makes 'Significant' Oil Discovery Off Namibia
Paul Burkhardt - Bloomberg
Light oil and associated gas at Venus well is 'very promising'; Shell also found oil in a nearby block earlier this month
TotalEnergies SE made a "significant" oil discovery off the coast of Namibia, three weeks after Shell Plc announced a find off the southwest African nation.
/jlne.ws/3sf5BXy
Russia's Richest Lose $32 Billion as Ukraine Crisis Deepens
Benjamin Stupples - Bloomberg
The fortunes of Russia's super-rich have tumbled $32 billion this year, with the escalating conflict in Ukraine poised to make that wealth destruction much larger. U.S. President Joe Biden on Tuesday unleashed sanctions targeting Russia's sale of sovereign debt abroad and the country's elites, and said he's sending an unspecified number of additional U.S. troops to the Baltics in a defensive move to defend NATO countries.
/jlne.ws/3JQ9OHk
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| Miscellaneous | | Stories that don't quite fit under the other sections | You Can Take It With You, if the Grave Is Deep Enough; Sometimes apocryphal, often outrageous: stories of car lovers who were buried with their prized possessions.
Jim Motavalli - NY Times
Yes, people can and do get buried in their cars. But you can't always accept the claims at face value. A viral story in 2018 told of a Nigerian man who had buried his father in a BMW. According to The Standard, a Kenyan newspaper, it was "a dignified send-off befitting of his status."
/jlne.ws/3vunJ1V
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