Switzerland Proposes Green Labelling Rules

Switzerland has proposed new rules covering the labelling of sustainable financial products traded in the Alpine nation’s markets. The Swiss Federal Council said it will require issuers of the products to be able to justify the use of descriptive terms such as “green” and “ESG”. Among other requirements, the council proposes that issuers include disclosures on their products’ approach to sustainability and provide third-party verification of their credibility.

Thailand Proposes Green Taxonomy to Boost Sustainable Market

Thailand has published proposals for its own green taxonomy to help develop the Southeast Asian nation’s sustainability markets. The draft pilot, put out for consultation late last week, is largely based on the European Union’s taxonomy and will focus first on drawing up parameters for climate change mitigation measures.

Third of Companies Don’t Include Climate Change in Risk Analyses

Almost a third of companies do not take climate change into consideration when analysing risks to their business. An Institute of Management Accountants (IMA) report found that finance departments were among the least likely to regard ESG risks as material. Corporate climate risks and mitigation strategies are metrics that have become increasingly important to investors.

IFRS to Open China Office as Asia Base for ISSB

The IFRS Foundation has signed an agreement to open an office in China from which it will base Asian operations of the International Sustainability Standards Board (ISSB). The three-year memorandum of understanding was signed with the Chinese Ministry of Finance and will initially be the office of ISSB member Bing Leng. “The announcement of the Beijing office is an important step towards the establishment of our global footprint in the ISSB’s inaugural year,” said ISSB chair Emmanuel Faber.

Pico Partners with BSO to Expand Global Crypto Access

Pico, the managed services, software, data and analytics provider, has expanded its partnership with BSO, the infrastructure and connectivity provider, to offer clients access to global crypto exchanges through the combination of BSO’s Crypto Connect service and Pico’s PicoNet.

BSO’s Crypto Connect offers global, low-latency, cloud-to-cloud connections into leading digital asset exchanges. The expanded partnership will provide clients access to over 35 such exchanges in addition to more than 300 global venues currently available on PicoNet.

swXtch.io Integrates Timebeat’s Precision Time Protocol into cloudSwXtch

Following the recent launch of its cloudSwXtch high performance networking product for the cloud, swXtch.io, a wholly-owned subsidiary of IEX Group, has deployed and integrated Timebeat’s Precision Time Protocol (PTP) into the cloudSwXtch technology, enabling clock synchronization across hybrid cloud networks.

The integration of the Timebeat PTP into cloudSwXtch adds standard PTP access to the hybrid cloud and hybrid networks, bringing cloud capabilities in line with on-premises networks.

oneZero Adds Cboe FX & State Street to Liquidity Network

Multi-asset enterprise trading technology solutions provider oneZero has expanded its ecosystem by adding Cboe FX and State Street to its network of FX liquidity providers and venues.

Cboe FX will take advantage of custom liquidity pools to meet participants’ execution criteria, with configurable firm and non-firm streaming quotes for tailored liquidity needs. State Street will utilize both shared and tailored streams via direct relationships with their liquidity consumers, in order to be able send clients a customized blend of liquidity.

Anadolubank Goes Live on Murex’s MX.3 with MXGO

Turkish bank Anadolubank has gone live on Murex’s MX.3 platform using MXGO, its pre-packaged treasury and trading solution designed for fast-growing local banks. MXGO is a modular front-to-back-to-risk business solution based on the MX.3 cross-asset platform, which can be deployed on-premises, on the cloud or via a fully managed SaaS approach.

Anadolubank targeted a multiple asset class platform – including FX, FXD, MM, FI, IRD and SecFin – to grow its treasury and capital markets activity. The bank selected MXGO to optimize time to market and total cost of ownership while upscaling its pricing, risk-monitoring and position-keeping capacities and laying solid foundations for future evolutions.

Australia Announces Plans for Mandatory ESG Disclosures by 2024

Australia has become the latest country to announce it is drawing up plans for mandatory ESG reporting by financial institutions and corporates. A consultation plan was issued by the government Treasury, with a framework proposal expected and a phased implementation from 2024. It follows similar announcements this year by the US and UK.

Quality and Access the Main ESG Data Concerns of US Listed firms: Deloitte

Data quality and completeness top the concerns of US listed companies as they beef up their ESG capabilities following the Securities and Exchange Commission’s announcement this year that it would require sustainability disclosures, a Deloitte survey has found. Quality was cited by 35 per cent of surveyed executives as their chief challenge, while 25 per cent said accessing quality data was their main obstacle.