Investors in China have spent a net $15.8 billion buying Hong Kong-listed shares of firms hit by a US investment ban. The amount invested this year through the Stock Connect trading link has reached almost 90% of a record set in March.
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."
The Treasury Department has decided not to take any action on removing Fannie Mae and Freddie Mac from government conservatorship before the Trump administration ends. The Biden administration is not expected to take action on re-privatizing the firms.
Goldman Sachs is partnering with digital payments firm Marqeta to offer checking accounts through its consumer banking unit, Marcus. Marqeta's technology will help the bank provide virtual debit cards and allow customers to tap real-time information about their spending.
Supporters of President Donald Trump can still send donations to his campaign via Stripe – they just can't do it directly. Although the firm blocked direct payments to the campaign following last week's Capitol Hill riot, indirect payments through intermediaries are still being sent.