China to launch Yuan-based oil futures contracts

China will launch a Yuan-based oil futures contracts, with no official launch date, but expected late this year or early next year in the Shanghai International Energy Exchange. Reported by The Wall Street Journal.

London Stock Exchange: 79% of shareholders voting at the EGM voted against the removal of Chairman Donald Brydon. The table below sets out the results of the poll at LSEG's General Meeting on 19-Dec- 2017. UK FCA Chief Executive, Andrew Bailey, said the “vote should now lead to an orderly process of succession of the CEO and then the Chair of the LSE as set out by the Board. It is important that everyone supports and contributes positively to that process.” Also, LCH’s CDSClear now offers credit index options clearing, according to The Trade.

NZX will implement changes to its trading and clearing pricing structure in 2H18 to encourage liquidity. In addition to pricing and rule changes, NZX will engage with the market to develop a broader suite of trading tools for its customers. NZX also plans a trading system upgrade in 2019 to meet these requirements.

Moscow Exchange (MOEX): Clients of Thomson Reuters can now access to aggregate quotes of the Moscow Exchange forex Market via Thomson Reuters’ forex trading platform.

Equiduct: market maker Optiver will provide continuous liquidity in European stocks and ETFs on Equiduct against the pan-European volume-weighted best bid and offer.

Bank of America Corp. will make markets in bonds, currencies, derivatives, equities and exchange-traded funds through a new type of trading venue being ushered in by Europe’s MiFID II overhaul of financial regulations. Reported by Bloomberg.

ESMA delayed the implementation of LEI requirements under MiFID II and MiFIR by six months. European Union investment firms will have to identify clients that are legal persons for MiFID II transaction reporting. Trading venues are obliged to identify each issuer. But ESMA and national competent authorities (NCAs) learnt that not all investment firms will succeed in obtaining LEI codes from all their clients ahead of the entry-into-force of MiFIR on Jan. 3, 2018.

Brexit: FIA warns that a no-deal Brexit scenario could disrupt the derivatives market and that some UK market groups don't have infrastructure or resources to relocate to Europe, and that will lead to higher costs for pension funds, assets managers, insurers and corporates.