SIX Exchange Regulation AG (SER), one of SIX trading venues’ regulating bodies., opened an investigation into the publication on 2 June 2022. The decision to sanction Swissquote was made on 29 November and a fine was imposed in the amount of CHF 75,000. SIX stated: Mainly due to a technical issue and human error, the…
Read more
The Kremlin has repeatedly pushed back against the default saying there is no grounds for it. However, the country is unable to send money to bondholders because of the western sanctions. Meanwhile, Reuters reported that some Taiwanese holders of Russian bonds denominated in euros had not received interest payments. Euroclear has not confirmed if the…
Read more
The company further explained that clients of other countries and regions will not be impacted by the decision. The Russian invasion of Ukraine was followed by a barrage of sanctions from western countries and the exit of foreign companies form Russia. Several financial services companies, like Goldman Sachs and payment firms Visa, Mastercard, American Express…
Read more
The UK regulator has appointed David Philip Soden, Robert Scott Fishman and Matthew Steven Roe, all of Teneo Financial Advisory Limited, as joint special administrators of Sberbank CIB. The special administration is a form of creditor protection that often precedes bankruptcy. The FCA said in a statement that the sanctions have led Sberbank's investment arm…
Read more
Furthermore, the European Union imposed a SWIFT ban on VTB Bank, along with six other Russian banks. VTB Forex temporarily suspended its services on 25 February due to the implications of the anti-Russian sanctions. Other Russian forex brokers initially suspended ruble pairs as the RUB fell 60% against the US dollar. Meanwhile, the Central Bank…
Read more
The bank added: Moreover, the official EUR/RUB exchange rate will be set in the same manner as the official exchange rates of other foreign currencies against the ruble. This will simplify the procedure for setting and publishing official exchange rates. Sanctions on Russia Russia’s central bank is trying to defend the country’s economy from the…
Read more
In its annual filing, the Goldman Sachs reports total credit exposure to Russia was $650 million. Most of it is tied to non-sovereign counterparties or borrowers. The firm is still trading corporate debt tied to the Russia without itself making wagers on price movements. New York-based Goldman Sachs stated: In our role as market-maker standing…
Read more
Gold Gold prices remain firmly supported above $2,000 dollars per ounce during early Wednesday trading, Demand for the precious metal increased as the geopolitical risk grew in Eastern Europe, with its price spiking on Tuesday and coming close to the all-time high reached in August 2020. The performance of gold will remain strongly linked to…
Read more
Additionally, local-currency denominated Russian bonds will be excluded from the GBI-EM indices. The bank also said that accrued interest for such bonds will be set to zero and suspended on 7 March. Moreover, Russia and Belarus will be excluded from the JESG EMBI, JESG GBI-EM, and JESG CEMBI indices. Index providers FTSE Russell and MSCI…
Read more
Gold Gold prices hit a fresh 18-month high during early Tuesday trading, reaching $2,020. The precious metal may soon test the all-time maximum of $2,075, reached in August 2020, as the flight to safety intensifies. The economic fallout from the war in Ukraine is worrying market operators, with the growing likelihood of Russian oil and…
Read more