K. Treppides & Co Limited - ICAS Newsletter - Issue 35

ICAS
September Newsletter - Issue 35/2021

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CySEC
ESMA updated Guidelines on written agreements between members of
CCP colleges

1 September 2021
The Cyprus Securities and Exchange Commission (the ‘CySEC’) wishes to inform the Regulated Entities that the European Securities and Markets Authority (the ‘ESMA’) has issued updated Guidelines on written agreements between members of CCP1 colleges, with ref. no. ESMA70-151-3431 (the “Guidelines”) published on 1 July, 2021 and which refer to the national competent authorities. These Guidelines replaced the guidelines adopted by ESMA on 4 June 2013 (ESMA/2013/661).

Circular: C467

Market News

Bloomberg
ECB Seen Slowing Pandemic Stimulus as Economic Recovery Advances

3 September 2021
"The European Central Bank will start slowing down its pandemic bond purchases in the fourth quarter and may not exhaust the whole 1.85 trillion-euro ($2.19 trillion) program before it ends next year, according to economists surveyed by Bloomberg. An improved economic outlook will allow policy makers to reduce the pace of buying from 80 billion euros a month in September to about 50 billion euros in March, they said. A decision to terminate the program then, as currently planned, is only expected at the end of the year. " For more information please press here.

Bloomberg
Oil Set for Second Weekly Gain as Stockpiles Drop, Dollar Eases

3 September 2021
"Oil headed for a back-to-back weekly gain, supported by signs that the global crude market is tightening and a weaker U.S. currency. West Texas Intermediate steadied in Asia, up 1.7% since last Friday. U.S. government data this week showed a larger-than-expected draw in crude inventories in the run-up to the disruption caused by Hurricane Ida. The dollar has eased, making commodities including crude cheaper for overseas buyers." For more information please press here.

Reuters
U.S. job growth seen slowing in August as Delta variant curbs services demand

3 September 2021
"U.S. employment growth likely pulled back in August after gaining nearly 2 million jobs in the past two months as soaring COVID-19 cases reduced demand for travel and entertainment, but the pace was probably enough to sustain the economic expansion. The Labor Department’s closely watched employment report on Friday would come as economists have been sharply marking down their gross domestic product estimates for the third quarter. Reasons cited include the resurgence in infections, driven by the Delta variant of the coronavirus, and relentless shortages of raw materials, which are depressing automobile sales and restocking." For more information please press here.

Cryptocurrencies

Bloomberg
First Crypto Fund in Japan Targets Long-Term Retail Investors

2 September 2021
"Japanese financial conglomerate SBI Holdings Inc. is aiming to launch the country’s first cryptocurrency fund by the end of November that can give individual investors a way to diversify their broader portfolio. The fund could grow to several hundred million dollars invested in coins including Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin and possibly others, said Tomoya Asakura, who oversees asset management for Japan’s biggest online brokerage. Investors may need to put in a minimum of roughly 1 million yen ($9,100) to 3 million yen and it will mainly be aimed at people who understand risks associated with cryptocurrencies, such as the big price swings, he said." For more information please press here.

Regulatory Reporting Solutions

Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR.

Contact us directly at info@treppidesrr.com to discuss your tailor made solution.

Nicosia

Treppides Tower
9 Kafkasou Street
Aglantzia
Nicosia, CY 1642
Cyprus
P.O.Box 27142

Tel: +357 22 678944
Fax: +357 22 681887
Web: www.treppides.com

London

Treppides Advisers Ltd
Milner Street,
London, SW3 2QA,
United Kingdom

Tel: +44 20 7569 6756
Fax: +44 20 7569 6757
Web: www.treppidesadvisers.co.uk Email: info@treppidesadvisers.co.uk

Limassol

38 Andrea Kariolou Street
Ayios Athanasios
Limassol, CY 4102
Cyprus

Tel: +357 25 822722
Fax: +357 25 822723
Web: www.treppides.com

Malta

Finanz Audit Ltd
Level 1, Somnium
Tower Road, Swatar
Birkirkara, BKR 4012
Malta

Tel: +356 2010 8080
Fax: +356 2546 6103
Web: www.finanz-audit.com
Email: info@finanz-audit.com

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