Friday Review December 15 - 19
Weekly News Compilation
This is a compilation and redistribution of the institutional finance news for the week - while Enduring Markets publishes this Friday Morning CET Timezone - we will continue to update with news through the end of the day Friday EST Timezone.
Central Bank News
ECB Holds Rates Steady
Frankfurt, 18 December 2025 — The European Central Bank (ECB) Governing Council today decided to keep the three key ECB interest rates unchanged, reaffirming its assessment that inflation should stabilise at the 2% medium-term target. The interest rate on the deposit facility will remain at 2.00%, the main refinancing operations rate at 2.15%, and the m…
Bank of Taiwan Holds Rates Steady
Taipei, December 18, 2025 – The Central Bank of the Republic of China (Taiwan) announced its monetary policy decision for the fourth quarter of 2025, with the Board voting unanimously to keep policy rates unchanged. The decision reflects a judgment that a rate hold will help sustain sound economic and financial development, balancing expectations for so…
Banco de México Cuts Reference Rate to 7.00%
Mexico City, December 18, 2025 – The Governing Board of Banco de México (Banxico) has decided to lower the target for the overnight interbank interest rate by 25 basis points, effective December 19, 2025, setting the new rate at 7.00%. This decision continues the rate-cutting cycle and was based on an assessment of the current inflationary outlook.
Institutional News
Ukraine deal: EU leaders agree €90bn loan, but without use of frozen Russian assets
https://www.theguardian.com/world/2025/dec/19/ukraine-deal-latest-europe-leaders-loan-zelenskyy
SEC clears DTC to offer tokenised securities service
https://posttrade360.com/news/infrastructure/sec-clears-dtc-to-offer-tokenised-securities-service/
Verena Ross steps down as ESMA chair
https://posttrade360.com/news/infrastructure/verena-ross-steps-down-as-esma-chair/
LSEG and Citi unveil multi-year data and analytics partnership
https://www.thetradenews.com/lseg-and-citi-unveil-multi-year-data-and-analytics-partnership/
History in the making: A closer look at MarketAxess’ newly launched Opening and Closing Auctions
Nasdaq files SEC proposal for 23/5 US equities trading
https://www.thetradenews.com/nasdaq-files-sec-proposal-for-23-5-us-equities-trading/
ETS confirms CTP go-live as Ediphy’s legal battle drags on
https://www.fi-desk.com/ets-confirms-ctp-go-live-as-ediphys-legal-battle-drags-on/
Competition in US Treasury clearing could sustain vicious exchange battle
https://www.fi-desk.com/competition-in-us-treasury-clearing-could-sustain-vicious-exchange-battle/
US rates e-trading stabilises
https://www.fi-desk.com/us-rates-e-trading-stabilises/
DataBP affiliate to administer updated US CT
https://www.globaltrading.net/databp-affiliate-to-administer-updated-us-ct/
Euronext bids to settle European government bonds
https://posttrade360.com/news/infrastructure/euronext-bids-to-settle-european-government-bonds/
Euronext begins work with European financial institutions to drive plans for a unified CSD
NBIM warns on OPR reforms
https://www.globaltrading.net/nbim-warns-on-opr-reforms/
China HFT crackdown accelerates with potential co-location limits
https://www.globaltrading.net/china-hft-crackdown-accelerates-with-potential-co-location-limits/
ICMA CEO Bryan Pascoe Annual Review
https://www.icmagroup.org/icma-member-update-2025/message-from-the-ceo
Trading Talent News
Dincher joins Barclays IB
https://www.fi-desk.com/dincher-joins-barclays-ib/
Clifford drops Citi for BlackRock
https://www.fi-desk.com/clifford-drops-citi-for-blackrock/
Kepler Cheuvreux boosts credit sales team
https://www.fi-desk.com/kepler-cheuvreux-boosts-credit-sales-team/
Societe Generale promotes internally for head of global markets and head of FIC APAC
Citi head of trading joins BlackRock in senior trader role
https://www.thetradenews.com/citi-head-of-trading-joins-blackrock-in-senior-trader-role/
Tourmaline expands global team with two new trading hires
https://www.thetradenews.com/tourmaline-expands-global-team-with-two-new-trading-hires/
Opinion Pieces and Podcasts
Bond market axes struggle in electronified markets, ICMA finds
https://www.fi-desk.com/bond-market-axes-struggle-in-electronified-markets/
The cost of clearing: Evidence from an analysis of cleared and uncleared repo
https://www.statestreet.com/us/en/insights/cost-of-clearing-repo-analysis
Looking into the crystal ball
https://www.thetradenews.com/liquidnet/looking-into-the-crystal-ball/
Yulan bonds on the rise as Chinese companies go overseas
https://www.financeasia.com/article/yulan-bonds-on-the-rise-as-chinese-companies-go-overseas/505738