United States

SIX, an exchange company in Switzerland, is angling to take full advantage of the advent of distributed ledger technology (DLT). With its new digital asset platform, the company hopes to profit from easier securities settlement and a new method of raising capital that involves issuing cryptocurrency.

​New regulations have uncovered heaps of data that markets are struggling to handle. But as participants discover issues exist they did not realise existed, the data revolution will result in safer and more efficient markets for all.

Bankers are preparing to hit the ground running when they return from the Labor Day holiday next week primed for a glut of high grade corporate supply.

Aerospace and control systems group Honeywell is poised to tap investors in both Europe and the US as levfin markets return to action next week. The firm will look to high yield buyers to help fund the separation of subsidiary Garrett Motion, but a portion of investment grade debt will also be on the table.

Interest among Chinese companies to list in the US continues to remain strong, with personal finance company X Financial and internet firm Viomi setting the stage for their IPOs.

The CFTC has fined BNP Paribas $90m for allegedly attempting to manipulate the USA ISDAFIX benchmark, through messages that used Salt-N-Pepa lyrics such as, “Push it real good,” according to the CFTC order.

Moody’s dropped its unsolicited corporate and bond ratings for WeWork on Wednesday, blaming “insufficient or otherwise inadequate information”, with the office leasing company understood to be comfortable with the higher solicited ratings it has from S&P Global and Fitch.

The US Senate Committee on Agriculture, Nutrition and Forestry has confirmed the nominations of Dawn DeBerry Stump and Dan Michael Berkovitz to serve as commissioners at the Commodity Futures Trading Commission (CFTC).

China-based X Financial has set the ball rolling for a potential $250m listing on the New York Stock Exchange.

Viomi Technology, a partner of Chinese smartphone-to-internet company Xiaomi, is looking to float on the Nasdaq for up to $150m.

Chinese electric car maker Nio launched its US IPO, looking to pocket up to $1.3bn amid strong interest from investors for stocks in the sector.

No new high bonds emerged this week in the US market before the Labor Day holiday, with low volumes helping to keep prices firm and yields tight.