Americas

Major cryptocurrency exchanges Bittrex, Gemini, Bitstamp and bitFlyer have launched a working group to establish a self-regulatory organisation (SRO), potentially having large implications for the cryptocurrency spot and derivatives markets.

Fitch Ratings has downgraded Ecuador from B to B- on the back of its rapidly rising debt burden, even though the country finally has a finance minister popular with bond investors.

Tencent Holdings-backed Qutoutiao has filed draft documents for a Nasdaq IPO, with plans to raise up to $300m.

Chinese mobile internet company CooTek is planning a $100m IPO of American Depository Shares (ADS), according to a draft prospectus filed with the US Securities and Exchange Commission on Thursday.

The drought in Latin American new issuance stretched to six weeks by Thursday, but DCM bankers are now more concerned by prospects for September after contagion from Turkey hit Lat Am assets this week.

Venezuelan state oil company PDVSA saw its 8.5% 2020s drift back upwards this week after taking a hit on the back of a US court ruling that caused some concern about bondholders’ ability to claim their collateral.

Another month, another set of headlines to scare even the most resolute of EM investors. Yet it is nearly time for Latin American primary markets to make a comeback, and issuers shouldn't let their plans get derailed.

Electronic trading platform provider Tradeweb is entering the US equity options market with a request-for-quote protocol that aims to capture growing investor taste for the product.

Elon Musk’s shock announcement on Twitter last week that he had secured funding to take Tesla private at $420 a share rocked US financial markets and send its shares and bonds rallying. Yet one week on questions are being asked about Musk’s “funding secured” claim most notably from the SEC.

The US corporate bond market continued at a strong pace this week, ignoring the lure of the beach that sees its European counterparts' new issue flow slow to a standstill in August. More than $22bn of bonds were sold in the first three days of the week and around half of that was raised by United Technologies Corp.

The US Office of Foreign Asset Control (OFAC) has an unprecedented decision to make on whether to accept a reported offer from EN+ owner Oleg Deripaska to sell shares in the company to VTB Bank. The aim of the deal is to reduce the oligarch’s majority stake in the aluminium conglomerate, which, it is hoped, will result in sanctions against it being removed.

Integrated online healthcare provider 111 filed draft documents on Wednesday for a potential $200m issue of American Depository Shares (ADS).