Market liquidity

DGAP-News: Mogo Finance S.A.: MOGO ADDRESSES QUERIES ON FINANCIAL COVENANTS

Friday, July 10, 2020 - 11:02am

Mogo Finance and the representative of the investors in the Euro bonds have agreed to temporarily increase the potential financial covenants headroom, in exchange of a liquidity undertaking that would ensure timely payment of interests.

Key Points: 
  • Mogo Finance and the representative of the investors in the Euro bonds have agreed to temporarily increase the potential financial covenants headroom, in exchange of a liquidity undertaking that would ensure timely payment of interests.
  • Mogo Finance has recently come across rumours circulating in the market, that may be detrimental to investors in the Euro bonds and to Mogo Finance itself.
  • Mogo Finance is committed to address them in the following news release as well as upcoming investors' call.
  • In May 2020, Mogo Finance investigated whether it was legally feasible to mitigate potentially adverse and extraordinary effects of the pandemic on its financial covenants.

ESMA clarifies external support within the meaning of Article 35 of the MMF Regulation

Friday, July 10, 2020 - 12:07am

09 July 2020

Key Points: 
  • 09 July 2020

    COVID-19

    Fund Management

    ESMA is issuing this statement in the context of financial markets authorities recent actions to mitigate the impact of COVID-19 on the EUs financial markets, to clarify the potential interaction between the intermediation of credit institutions and the requirements of Article 35 of the MMF Regulation on external support.

  • It also aims to coordinate the supervisory approaches of national competent authorities (NCAs) in light of these and any future liquidity challenges for MMFs in the context of the current COVID-19 pandemic.
  • In particular, the market liquidity brought by some of these measures mayhavealso indirectly benefited MMFs through the intermediation of credit institutions.
  • ESMA, together with NCAs, will continue to closely monitor the situation and will take or recommend any measures necessary to mitigate the impact of COVID-19.

ESMA clarifies external support within the meaning of Article 35 of the MMF Regulation

Friday, July 10, 2020 - 12:05am

09 July 2020

Key Points: 
  • 09 July 2020

    COVID-19

    Fund Management

    ESMA is issuing this statement in the context of financial markets authorities recent actions to mitigate the impact of COVID-19 on the EUs financial markets, to clarify the potential interaction between the intermediation of credit institutions and the requirements of Article 35 of the MMF Regulation on external support.

  • It also aims to coordinate the supervisory approaches of national competent authorities (NCAs) in light of these and any future liquidity challenges for MMFs in the context of the current COVID-19 pandemic.
  • In particular, the market liquidity brought by some of these measures mayhavealso indirectly benefited MMFs through the intermediation of credit institutions.
  • ESMA, together with NCAs, will continue to closely monitor the situation and will take or recommend any measures necessary to mitigate the impact of COVID-19.

Superior Announces Departure of Chief Financial Officer

Thursday, July 9, 2020 - 9:30pm

Over his tenure with Superior, Matti has been a key leader for the Company, driving significant operating and cash flow improvement, better positioning Superior for the future, commented Majdi Abulaban, President and Chief Executive Officer of Superior.

Key Points: 
  • Over his tenure with Superior, Matti has been a key leader for the Company, driving significant operating and cash flow improvement, better positioning Superior for the future, commented Majdi Abulaban, President and Chief Executive Officer of Superior.
  • While it is difficult to leave such a talented team, I am confident that under Majdis leadership, Superior will continue to execute on the initiatives implemented to further enhance the Companys financial strength and liquidity position, said Mr. Masanovich.
  • As previously announced on June 23, 2020, Superior maintains a robust liquidity position, supported by availability on revolving credit facilities and cash on hand.
  • Superior ended the second quarter ahead of its previously issued outlook with net debt of approximately $596 million and available liquidity in excess of $240 million.

Alan Burr Joins Sucden Financial for LME Metals and Options in Hong Kong

Thursday, July 9, 2020 - 10:30am

LONDON, July 9, 2020 /PRNewswire/ --Sucden Financial, the global multi-asset execution, clearing and liquidity provider, has appointed Alan Burr for LME metals and options trading at its Hong Kong subsidiary.

Key Points: 
  • LONDON, July 9, 2020 /PRNewswire/ --Sucden Financial, the global multi-asset execution, clearing and liquidity provider, has appointed Alan Burr for LME metals and options trading at its Hong Kong subsidiary.
  • The appointment of Burr will help enhance the Hong Kong hub's market making to add liquidity in the region.
  • He will primarily focus on LME metal products, including options and average price contracts, working directly with the category one LME member's London trading team.
  • Prior to joining Sucden Financial, Burr was Director and Head of Metals Trading at Socit Gnrale in Hong Kong and Singapore where he was responsible for trading and providing market making of metals products, covering base and precious metals and iron ore.

Bed Bath & Beyond Inc. Reports Results For Fiscal 2020 First Quarter

Wednesday, July 8, 2020 - 9:30pm

The Company's fiscal first quarter spanned the most critical months to date of the COVID-19 pandemic March, April and May.

Key Points: 
  • The Company's fiscal first quarter spanned the most critical months to date of the COVID-19 pandemic March, April and May.
  • Net sales from digital channels represented nearly two-thirds of the Company's fiscal 2020 first quarter total net sales.
  • This compares with a net loss of $(2.91) per diluted share for the fiscal 2019 first quarter.
  • An important focus of the Company during the fiscal 2020 first quarter was to increase liquidity and optimize costs.

New Token Listing Alert: Levolution's LEVL Token is Officially Live on Changelly

Tuesday, July 7, 2020 - 10:14pm

We project that this listing will spur the interest of traders and members of our community, ultimately propelling liquidity and exposure of the LEVL Token.

Key Points: 
  • We project that this listing will spur the interest of traders and members of our community, ultimately propelling liquidity and exposure of the LEVL Token.
  • Changelly is a non-custodial cryptocurrency exchange that allows its users (+1 million monthly users) to efficiently exchange, buy, and sell cryptocurrencies almost effortlessly.
  • What makes Changelly so valuable is that it offers an intuitive interface, favorable exchange rates, and secure transactions.
  • We anticipate that Changelly's favorable exchange rate fee, intuitive interface, and other complimentary benefits will spur liquidity of the LEVL Token.

Virtu Financial to Host Conference Call Announcing Second Quarter 2020 Results on Friday, August 7, 2020

Wednesday, July 8, 2020 - 2:03pm

NEW YORK, July 08, 2020 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (Nasdaq:VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the globalmarkets, will announce its results for the second quarter 2020 on Friday, August 7, 2020 before the U.S. market opens.

Key Points: 
  • NEW YORK, July 08, 2020 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (Nasdaq:VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to its clients and liquidity to the globalmarkets, will announce its results for the second quarter 2020 on Friday, August 7, 2020 before the U.S. market opens.
  • Virtu will host a conference call to discuss the company's financial results at 8:30 a.m. Eastern Time (ET).
  • A live webcast of the event will be available and archived on the Investor Relations section of the company's website at http://ir.virtu.com/events.cfm .
  • Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients.

Brooks Brothers Commences Chapter 11 Cases to Support Value-Maximizing Sale Process and Obtain New Financing

Wednesday, July 8, 2020 - 3:29pm

Brooks Brothers, Americas oldest apparel company, today announced that it has commenced Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to facilitate a value-maximizing sale process.

Key Points: 
  • Brooks Brothers, Americas oldest apparel company, today announced that it has commenced Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to facilitate a value-maximizing sale process.
  • This capital, together with cash flows from ongoing operations, will provide liquidity to support the Company through the sale process.
  • Brooks Brothers expects to complete the sale process in the next few months, pending court approval.
  • Brooks Brothers will continue to operate its business in the ordinary course throughout the court and sale process.

Vega Creates a Novel Path to Disintermediate Liquidity on Decentralized Exchanges

Wednesday, July 8, 2020 - 2:00pm

In its paper, Vega introduces an improved solution using a mechanism for sustainable and highly scalable liquidity markets that optimises for liquidity and low cost of trading.

Key Points: 
  • In its paper, Vega introduces an improved solution using a mechanism for sustainable and highly scalable liquidity markets that optimises for liquidity and low cost of trading.
  • There is a glaring gap in performance between centralized and decentralized exchanges, and liquidity is a significant part of the problem.
  • Such approaches require a central intermediary that profits from liquidity provision to administer, and typically fails to align the incentives of exchanges and liquidity providers as markets grow.
  • Vegas liquidity markets designs a new approach to matching liquidity providers with trading demand in a scalable and sustainable way.