LCH reported the largest variation margin call on record during Q3 2020 when a single clearing member triggered a €6.2 billion VM call. LCH has revised its worst-case same-day payment obligation estimate due to a participant's collapse to €26.3 billion, up 39% year on year.
Some 30 million equity options contracts on average traded on US exchanges each day in 2020, up more than 50% from the year before, and that figure has risen to beyond 40 million per day in recent weeks. With technology making it easier for retail investors to purchase options, the flood of trading shows no signs of abating.
On Jan. 11 CME Group delisted its CSX Coal and Powder River Basin Coal futures and options, the last contracts available for trading US thermal coal. According to S&P Global Platts data the last time any of the contracts had any open interest was December 2018.
Trading of the first centrally cleared bitcoin exchange-traded product, the BTCetc Bitcoin Exchange Traded Crypto, has surged almost as high as that of leading mainstream ETFs amid the cryptocurrency's recent rally.
Derivatives and education firm OSTC plans to open a Hong Kong office in order to expand into China during 2021, according to OSTC chief executive Lee Hodgkinson. "Greater China represents a significant opportunity for OSTC, particularly as the futures market is maturing and barriers are being lowered for overseas investors," Hodgkinson said in a statement.
Federal Reserve Chairman Jerome Powell told a webinar that the Fed's regulatory work on stablecoins is a "very high priority" because they "could become systemically important overnight." Regarding the establishment of a central bank digital currency, Powell said the Fed is "determined to do this right rather than quickly, and it will take some time -- measured in years rather than months."
In 2020, venture capital funds in the US withstood the effects of the coronavirus recession and broke a long list of records, according to a report by PitchBook and the National Venture Capital Association. For the first time, total dealmaking topped $150 billion, a resurgence of initial public offerings pushed exits to a record $290 billion, and venture capital funds raised $73.6 billion, outstripping the previous record of $68.1 billion in 2018.
Harness, a software startup focused on continuous integration and continuous delivery, raised $115 million in its combined Series B1 and C funding rounds, giving the company a $1.7 billion valuation. The company uses artificial intelligence and machine learning to automate software development and deployment.
Mosaic, a startup software platform that assists chief financial officers, raised $18.5 million in its Series A funding round. The system is designed to process data from a variety of sources to provide key forecasts to CFOs and their teams.
Capsule, a startup video Q&A platform tailored to the needs of companies that manage brands, raised $2 million in pre-seed funding that included an investment from Bloomberg Beta. With the new capital it will hire a product designer and add new features to its platform.