Industry News
Financial Markets
Top stories summarized by our editors
4/15/2021

Political groups spent at least three times as much on connected television platforms during 2020 as all other buyers did, Centro data indicates. Hulu led platforms, with a quarter of spending, but new entrants to the market made strong showings.

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Axios
4/15/2021

Average daily volume on Turquoise Europe, the London Stock Exchange Group's European lit venue, rose 30% in the first three months after expiry of the UK-EU transition deal. Volume rose 10.1% from January to February, with a further 20.5% gain from February to March.

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The Trade (UK)
4/15/2021

The Bank of England and the European Central Bank are, for the first time, testing banks they oversee to determine how effectively they respond to climate change stress.

4/15/2021

The European Central Bank's public consultation on a possible central bank digital currency reveals a high degree of concern about privacy. According to the survey, 43% of respondents said anonymity was their most important requirement for a digital currency.

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PYMNTS
4/15/2021

Value stocks have risen rapidly in recent months to become value and momentum stocks simultaneously, potentially causing a merging of investing strategies that may benefit both the financial and energy sectors.

4/15/2021

Most derivatives contracts worldwide still incorporate Libor as their reference rate, despite warnings from regulators that the benchmark must be phased out. In the US, 4.7% of derivatives contracts traded in March were based on Libor's replacement benchmark, the Secured Overnight Financing Rate, down from 5% in February.

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Bloomberg
4/15/2021

HSBC is relocating four top executives from London to Hong Kong as it shifts its strategic focus to the rapidly growing markets of Asia. The co-head of global banking and markets as well as the heads of global commercial banking, wealth and personal banking and global asset management will be making the switch, which means the divisions responsible for most of HSBC's revenue will be working from Hong Kong.

4/15/2021

A change to the EU's revised Markets in Financial Instruments Directive aimed at encouraging more research on smaller companies has made little difference, according to some market participants. Exempting such firms from the ban on bundling the cost of research with other services is thought unlikely to deliver significant cost benefits, and Steve Kelly, special advisor to the European Association of Independent Research Providers, says he does not expect it to encourage an increase in research.

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Practice Insight
4/15/2021

The plummet of Deliveroo's share price immediately after its initial public offering in the UK last month could end hopes of attracting companies to go public in London by adopting rules that encourage dual-class shares. Several institutional investors cited Deliveroo's dual-class share structure as one of the reasons they did not invest in the IPO.

4/15/2021

Jason Granet, the executive responsible for Goldman Sachs' transition from Libor, is retiring after 20 years with the company. No successor has been selected for the post.

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Bloomberg