New Developments New Developments
New Developments


In this area, EMTA posts current information regarding EMTA projects and other matters deemed of interest to participants in the Emerging Markets trading and investment community. To submit materials for posting to this area, please contact EMTA by e-mail at sortiz@emta.org. EMTA generally disclaims responsibility for the content of materials received for posting from outside sources.

Current | 2017 | 2016 | 2015 | 2014 | 201320122011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 

October 19, 2018
Temporary Extension of Ukraine-related General Licenses.

October 18, 2018

MarketAxess, in Partnership with EMTA, to Host Fifteenth Annual EM Charity Trading Day on October 24. 

October 12, 2018
Temporary Extension of Ukraine-related General Licenses.

October 11, 2018
EMTA Corporate Bond Forum in NYC to be Held on November 5, 2018. Click Here to Register. 

October 9, 2018
EMTA Corporate Bond Forum in Boston to be Held on November 8, 2018. Click Here to Register.

October 4, 2018
EMTA Special Seminar on the MENA/GCC Markets to be Held in New York on October 29, 2018. Click Here to Register.

October 3, 2018
Warrant Record Date of September 28 and Payment Date of October 15 for Venezuela Oil Obligations.  Trades are "Ex-Dividend" on September 27.

September 26, 2018
Holiday Schedule for EM Bond Trades for US Columbus Day Holiday. 

EMTA Special Seminar: Recent Developments in Emerging Markets Arbitration: Crisis, Chaos and Opportunity. 

September 25, 2018
OFAC SDN List Update: Venezuela-Related Designations.
  
September 24, 2018

EMTA Special Seminar: Argentina's Outlook to be Held in London on October 23, 2018. Click Here to Register. 

September 21, 2018
Temporary Extension of Ukraine-related General Licenses.

September 19, 2018
Results of Electronic Insta-Polls at EMTA’s Forum in Istanbul, Based on 250 Attendees.
  
September 17, 2018
Press Release of the National Bank of Ukraine of Draft Structure  for Future Currency Regulations. 

September 14, 2018
Publication of New Ukraine-/Russia-related FAQs.

September 12, 2018

EMTA Publishes Recommended FX and Currency Derivatives Market Practice No. 85 on Kazakhstani Tenge/US Dollar Rate Source. CLICK HERE to view Market Practice No. 85. 

EMTA's Third Quarter Bulletin is Now Available in our Bulletin Section.

September 10, 2018
EMTA Announces 2Q 2018 EM Debt Trading Volume Stood at US$1.327 Trillion.

September 7, 2018
EMTA Publishes Recommended FX and Currency Derivatives Market Practice No. 84 on Kazakhstani Tenge/US Dollar Rate Source. CLICK HERE to view Market Practice No. 84. 

September 6, 2018
EMTA Fall Forum in NYC to be held on October 1, 2018. Click Here to Register. 

August 22, 2018
EMTA Forum in Hong Kong to be Held on October 8, 2018. Click Here to Register. 

Holiday Schedule for EM Bond Trades for UK Summer Bank and US Labor Day Holidays. 

August 21, 2018
EMTA Forum in Singapore to be Held on October 5, 2018. Click Here to Register. 

August 20, 2018
Kazakhstan Stock Exchange Moves to a TOM Foreign Exchange Rate. 

August 17, 2018
S&P Global Ratings Downgrades Turkey’s Long-Term Foreign Currency Sovereign Credit Rating from BB- to B+.

August 15, 2018
EMTA Special Seminar: The Brazilian Elections to be Held in New York on September 13, 2018. Click Here to Register.

August 13, 2018
Press Release of the Banking Regulation and Supervisory Agency of Turkey Regarding New Limits on FX Swaps. 

August 7, 2018
EMTA Forum in Istanbul to be Held on September 19, 2018. Click Here to Register.

August 2, 2018
Venezuelan Bolivar Redenomination Scheduled for August 20. 

 August 1, 2018 

EMTA Announces 2Q 2018 EM CDS Volume Stood at US$468 Billion.

OFAC SDN and SSI List Update: Non-proliferation Designations; Ukraine-/Russia-related Removal.

August 2018
EU Seeks to Contain the Impacts of US Reimposition of Extra-Territorial Sanctions on Iran – Dechert Memorandum.

Iran Sanctions – U.S. Reimposes Sanctions After JCPOA Withdrawal, First Measures Come Into Effect - Dechert Memorandum.

U.S. Moves Cautiously to Impose Mandated Sanctions Against Russia, While Congress Mulls Further Measures.

July 31, 2018
Issuance of Ukraine-/Russia-related General License 13C.

July 23, 2018
Press Release of the National Bank of Ukraine Regarding Board Resolution No. 80 dated July 19, 2018 on Official Exchange Rate of the Hryvnia to Foreign Currencies. Click here to see Resolution No. 80. Click Here to see the Unofficial Translation.

July 19, 2018EMTA Announces 2Q 2018 EM CDS Volume Stood at US$468 Billion.
Issuance of Venezuela General License 5; Publication of Venezuela-Related Frequently Asked Questions. 

July 13, 2018
Fitch Downgrades Turkey’s Long-Term Foreign-Currency Issuer Default Rating from BB+ to BB.

July 12, 2018
EM Charity Benefit in New York Scheduled for December 6, 2018 – Tickets Now on Sale.  Please CLICK HERE for more information.

July 4, 2018
Press Release of Reserve Bank of India Regarding Computation and Dissemination of Reference Rate by FBIL.

July 2, 2018

EMTA Special Seminar: Recent Developments in Emerging Markets Arbitrations in London to be Held on Wednesday, September 26, 2018. Click Here to Register.

June 28, 2018

EMTA Publishes Recommended FX and Currency Derivatives Market Practice No. 83 on Indian Rupee/US Dollar Rate Source. CLICK HERE to view Market Practice No. 83. 

June 25, 2018
Statement of Venezuela Creditors Committee.

Calculations for Payments on Uruguay VRR's Announced.
 
June 20, 2018
EMTA Announces 1Q 2018 EM Debt Trading Volume Stood at US$1.280 Trillion.

Holiday Schedule for EM Bond Trades for US Independence Day Holiday. 

June 14, 2018
EMTA Forum on Sub-Saharan Africa in London to be Held on Tuesday, September 25, 2018. Click Here to Register. 

June 11, 2018
Press Release of the FBIL regarding the FBIL Reference Rates and FBIL Reference Rate Methodology.

June 7, 2018
EMTA's Second Quarter Bulletin is Now Available in our Bulletin Section.

June 5, 2018
Market Practice for Barbados External Bonds. 

June 4, 2018
Redenomination of the Venezuelan Bolivar Is Postponed.

Issuance of Ukraine-/Russia-related General License 16.
 
June 1, 2018
Press Release Issued by Barbados Announcing Intention to Restructure Debt.

June 2018
Mozambique - Projected Government Revenues from Gas Projects.

EU Blocking Regulation Update: Response to US Iran Sanctions - Dechert Memorandum.

May 31, 2018
Issuance of Ukraine-/Russia-related General License 13B.
  
May 25, 2018

Issuance of Ukraine-/Russia-related General Licenses; Publication of New FAQs and Updated FAQs. 

EMTA Privacy Policy and Terms of Use.

May 24, 2018
EMTA Summer Forum in London to be Held on June 19, 2018. Click Here to Register.

EMTA Announces 1Q 2018 EM CDS Volume Stood at US$488 Billion.

May 22, 2018
Issuance of Ukraine-/Russia-related General Licenses; Publication of New FAQs and Updated FAQs.
 
May 21, 2018
Executive Order Prohibiting Certain Additional Transactions with Respect to Venezuela.

May 16, 2018
Holiday Schedule for EM Bond Trades for US Memorial Day/UK Spring Bank Holidays. 

May 14, 2018
EMTA Special Seminar: Recent Developments in Emerging Markets Arbitrations

EMTA Special Seminar - Argentina: Economic Outlook to be Held on June 7, 2018. Click Here to Register. 

Same as It Ever Was: United States Re-imposes Sanctions on Iran - Cleary Gottlieb Memorandum. 

May 13, 2018
IMF to Launch Global Public and Private Borrowing Database.

May 10, 2018
Keynote Address by Vladimir Werning, Subsecretary of Coordination and Economic Analysis for the Republic of Argentina, Delivered at EMTA Forum in Buenos Aires (in Spanish).

May 2, 2018

EMTA Special Seminar: Russia Sanctions Update 

May 1, 2018
S&P Global Ratings Downgrades Turkey’s Long-Term Sovereign Credit Rating from BB to BB-.

Issuance of Ukraine-/Russia-related General Licenses; Publication of New FAQs and Updated FAQs.

May 2018
OFAC Issues Important Updates and Clarifications to Russia Sanctions - Dechert Memorandum.

Iran Sanctions – President Trump’s Announcement of US Withdrawal from JCPOA – Dechert Memorandum.

Russian Legislature Makes Way For Counter Sanctions Legislation – Dechert Memorandum.

Upper House of Russian Parliament Passes Counter-Sanctions Bill – Dechert Memorandum.

April 30, 2018
Fiscal Agent Notice Regarding May 15, 2018 Payment on Nigeria Payment Adjustment Rights.

April 25, 2018
Holiday Schedule for EM Bond Trades for UK May Day Bank Holiday.  

April 24, 2018
OFAC Issues New General Licenses, Guidance Related to Recent Russia Sanctions - Skadden, Arps, Slate, Meagher & Flom Memorandum. 

April 23, 2018
EMTA Spring Forum in London to be Held on May 24, 2018. Click Here to Register.

Iran Sanctions – JCPOA in the Balance – Dechert Memorandum.

April 20, 2018
EMTA Special Seminar: Russia Sanctions Update in New York to be Held on May 2, 2018. Click Here to Register.

April 18, 2018
New ISO Code Assigned to Venezuela's Currency.

April 17, 2018
EMTA Forum in Buenos Aires to be Held on May 10, 2018. Click Here to Register. 

April 16, 2018
EMTA Forum in São Paulo to be Held on May 8, 2018. Click Here to Register. 

Failure to Pay on Venezuela Oil Obligations Announced.  Effective Warrant Record Date of March 30 and Payment Date of April 16 for Venezuela Oil Obligations.  Trades are "Ex-Dividend" on March 29.

April 13, 2018
New Russia Sanctions: Key Takeaways – Morgan Lewis & Bockius Memorandum.

April 12, 2018
Notice of Event of Default on Elecar 2018 Notes.

April 11, 2018
EMTA Special Seminar – Venezuela: The Path Forward.

US Imposes New Russia Sanctions Targeting Oligarchs, Senior Government Officials and Entities - Skadden, Arps, Slate, Meagher & Flom Memorandum.

April 10, 2018
Update on PDVSA US Litigation Trust v. Lukoil Pan Americas, et al – Cleary Gottlieb Memorandum.

April 8, 2018
U.S. Sanctions Additional Russian Targets - Cleary Gottlieb Memorandum. 

April 6, 2018
US Treasury Press Release: Treasury Designates Russian Oligarchs, Officials, and Entities in Response to Worldwide Malign Activity.

US Imposes New Russia Sanctions Targeting Oligarchs, Senior Government Officials and Entities - Skadden, Arps, Slate, Meagher & Flom Memorandum.

OFAC Targets Russian Oligarchs and Government Officials - Davis Polk Memorandum.

April 2, 2018
EMTA Special Seminar: Recent Developments in Emerging Markets Arbitrations in New York to be Held on May 14, 2018.  Click Here to Register.

April 2018

In a Major Move US Sanctions Key Russian Oligarchs Officials and Related Entities - Dechert Memorandum. 
 
March 29, 2018
EMTA Issues FX and Currency Derivatives Market Practice No 82 on Revisions to Philippine Peso Rate Source Definition. CLICK HERE to view Market Practice No. 82.

March 26, 2018
EMTA Announces 2017 EM Debt Trading Stood at US$4.910 Trillion.

March 22, 2018
EMTA Forum in Los Angeles to be Held on May 17, 2018.  Click Here to Register.

March 20, 2018
Mozambique Presentation to Creditors.

March 19, 2018
EMTA's First Quarter Bulletin is Now Available in our Bulletin Section.

March 16, 2018
Bankers Association of the Philippines Publishes Guidelines for the Settlement and Publication of the USD/PHP Spot  Effective April 1, 2018

March 7, 2018
EMTA Forum in Frankfurt to be Held on April 26, 2018.  Click Here to Register.

March 6, 2018

EMTA Special Seminar – Venezuela: The Path Forward to be held in London on April 11, 2018. Click Here to Register. 

March 1, 2018
EMTA Forum in Boston to be Held on April 5, 2018.  Click Here to Register. 

EMTA Announces 2017 EM CDS Volume Stood at US$1.298 Trillion. 

Fitch Downgrades Bahrain's Long-Term Foreign-Currency Issuer Default Rating from BB+ to BB-.
  
February 23, 2018
Fitch Downgrades Brazil's Long-Term Foreign Currency Issuer Default Rating from BB to BB-.

February 22, 2018
Mozambique Ministry of Economy and Finance Press Release Relating to a Presentation in London on Debt Restructuring Proposals. 

February 12, 2018
EMTA Forum in Dubai to be Held on March 14, 2018. Click Here to Register. 

February 10, 2018
Market Practice Recommended for PDVSA Bonds.


February 7, 2018
Holiday Schedule for EM Bond Trades for US Presidents' Day Holiday. 

January 31, 2018
EMTA Winter Forum in London to be Held on February 20, 2018. Click Here to Register. 

January 30, 2018
Trump Administration Releases List of Russian Political Figures and Oligarchs to Congress, Decision on Defense/Intelligence Sector Sanctions  - Dechert Memorandum.  

January 17, 2018
Antonio Ortiz-Mena, former member, Mexican NAFTA Negotiation Office, to Deliver Keynote at EMTA Special Seminar – Outlook for Mexico to be held in New York on February 12, 2018. Click Here to Register. 

January 15, 2018
EMTA has today published its Recommended FX and Currency Derivatives Market Practice No 81 on New Terms, effective January 22, 2018 for BRL / USD Non-Deliverable FX Forward and Currency Option Transactions. EMTA Members may CLICK HERE to view Market Practice No. 81.

January 12, 2018
Calculations for Payments on Uruguay VRR's Announced. 

Venezuela – Navigating the Storm – Clifford Chance Memorandum. 

January 11, 2018
S&P Global Ratings Downgrades Brazil’s Long-Term Foreign Currency Sovereign Credit Rating from BB to BB-.

January 10, 2018

EMTA Special Seminar – Outlook for Turkey in an Unstable Geopolitical World to be held in London on February 6, 2018. Click Here to Register. 

January 8, 2018
Republic of Venezuela Bond Market Practice Recommended. 

January 3, 2018
FMDQ Extends Proposed NiFEX Cessation to December 31, 2018 

Holiday Schedule for EM Bond Trades for Martin Luther King, Jr. Holiday. 

January 1, 2018
EMTA Publishes New Template Terms with Revisions to Disruption Fallbacks.


December 21, 2017

Record and Payment Dates on Defaulted Interest on Venezuela Oil Obligations Announced.

December 20, 2017
EMTA Announces 3Q 2017 EM Debt Trading Volume Stood at US$1.299 Trillion.

December 15, 2017

EMTA Special Seminar – Venezuela: The Path Forward to be held in New York on January 9, 2018. Click Here to Register. 

Nigerian FMDQ Publishes Notice of Proposed Cessation of NiFEX  rate. 

December 11, 2017
S&P Global Ratings Downgrades Colombia’s Long-Term Foreign-Currency Rating from BBB to BBB-.

Fitch Downgrades Oman's Long-Term Foreign-Currency Issuer Default Rating from BBB to BBB-. 

December 7, 2017
EMTA Annual Meeting: Forecasts of Key Economic Variables for 2018 from Sell-Side Panel. 

EMTA's Fourth Quarter Bulletin is Now Available in our Bulletin Section

December 6, 2017
Holiday Schedule for EM Bond Trades for Christmas, Boxing Day and New Year's Holidays. 

EMTA Special Seminar on MENA/GCC Markets to be held in London on January 31, 2018. Click Here to Register. 

December 5, 2017 
2018 Holiday Schedule 

December 4, 2017
Ruth de Krivoy, former Venezuelan Central Bank President, to Deliver Keynote at EMTA Forum in Miami on January 16, 2018. Click Here to Register.

November 29, 2017
EMTA Announces 3Q 2017 EM CDS Volume Stood at US$359 Billion. 

EMTA Corporate Bond Forum, Sponsored by UBS to be Held in London on January 24, 2018  Click Here to Register.

November 19, 2017
EMTA and ISDA Publish Amended and Restated Annex A to the 1998 FX and Currency Option Definitions and a Transitional Supplement.
Effective January 1, 2018, EMTA will Terminate the EMTA Fallback Surveys. 

November 16, 2017
ISDA Credit Determinations Committee Determines Credit Event on PDVSA. 
ISDA Credit Determinations Committee Determines Credit Event on Venezuela. 

November 15, 2017
Venezuela Market Practice Recommended.

November 14, 2017
Fitch Downgrades Venezuela’s Long-Term Foreign Currency Rating to RD (Restricted Default). 

S&P Global Ratings Downgrades its Corporate Credit Rating on PDVSA from CC to SD. 

November 13, 2017
Fitch Downgrades PDVSA’s Issuer Default Rating to RD (Restricted Default).
 
S&P Global Ratings Downgrades Venezuela to SD (Select Default). 
 
 

Current | 2017 | 2016 | 2015 | 2014 | 201320122011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 

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