Euronext is the front-runner to acquire IHS Markit unit MarkitSERV, sources say, though final bids are not due until September. London Stock Exchange Group reportedly is among other firms interested in MarkitSERV.
Brevan Howard will be the first nonbank required to comply with initial-margin rules that take effect next month, sources say. The hedge fund manager reportedly has heavy exposure to noncleared swaps and exceeds a $1.5 trillion compliance threshold.
The Securities and Exchange Board of India is enhancing cybersecurity initiatives to include market-infrastructure institutions. SEBI is planning a closer look at operational modalities of such institutions.
Turkey's political and economic problems have sparked volatility, increasing opportunities for traders and banks, experts say. Banks can expect "a pickup in client hedging activity across some of the more lucrative [fixed-income, currency and commodity] products like interest-rate derivatives," Buckingham Research Group analyst Christopher Walsh says.
CME Group is extending a passive-volume market maker program for bitcoin futures for members and nonmembers from Aug. 31 through Feb. 28.
UAE startup Adab Solutions has established the First Islamic Crypto Exchange, which is the first Shariah-compliant cryptocurrency exchange. Plans include an initial coin offering next month.
Many people in the venture capital industry will need to understand the newly signed Foreign Investment Risk Review Modernization Act, writes Bobby Franklin, NVCA's president and CEO. "VCs with foreign LPs, VCs with foreign co-investors or startups contemplating taking foreign capital are the prime examples, but given the shifting startup landscape in recent years, FIRRMA will leave a broad mark," he writes.
Venture capitalists are backing startups that scale back waste in industries such as agriculture, food production, fashion and manufacturing. Ideas intended to help protect the environment are said to be simultaneously boosting profitability.
Walmart has received all necessary approvals to take control of Indian e-commerce company Flipkart and now owns a 77% stake. Walmart put $16 billion into the deal, which included buying the shares of several investors and injecting $2 billion in new capital to fund growth.