DB1, CME: the ECB working group on euro risk-free rates is calling on market participants and interested parties to comment on its assessment of candidate euro risk-free rates against key selection criteria. The new euro risk-free rate will replace EONIA, which will no longer meet the criteria of the EU Benchmarks.
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.
Deutsche Boerse's supervisory board is reluctant to approve quickly an extension of Chief Executive Carsten Kengeter's contract following the German exchange operator's failed merger with the London Stock Exchange, two people close to the matter said.
Caution prevailed across major markets on Wednesday before a potentially tense meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping this week, although metals and oil prices firmed on a hope of better global demand.
The EC yesterday formally blocked the proposed merger between London Stock Exchange Group and Deutsche Boerse AG-Tender. This was expected. The EC is expected to publish a more detailed decision at a later date. London Stock Exchange Group also announced a £200 million buyback program.