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.orgEMTA generally disclaims responsibility for the content of materials received for posting from outside sources.

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

Argentina Litigation 

November 19, 2017
EMTA and ISDA Publish Amended and Restated Annex A to the 1998 FX and Currency Option Definitions and a Transitional Supplement.

 

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). 
 
November 8, 2017
Holiday Schedule for EM Bond Trades for US Thanksgiving Day Holiday. 

November 3, 2017
Venezuela Market Practice Recommended.  
 
S & P Global Ratings Downgrades Venezuela’s Long-Term Foreign Currency Rating from CCC- to CC.  

November 2017
US Implements Changes to Cuba Sanctions -Dechert Memo. 

October 31, 2017
Fiscal Agent Notice Regarding November 15, 2017 Payment on Nigeria Payment Adjustment Rights.

Dominican Republic Redeems Remaining Outstanding Discount Bonds due 2024.

October 26, 2017
New Record and Payment Dates on Venezuela Oil Obligations Announced.
  
October 25, 2017
Global Group of Mozambique Bondholders Press Release.

October 20, 2017
Non-Payment on Venezuela Oil Obligations Announced.
  
October 19, 2017
Calculations for Payments on Venezuela Oil Obligations Announced.

October 16, 2017

EMTA Corporate Bond Forum in Boston to be Held on November 14, 2017. Click Here to Register.

October 11, 2017 
ISDA Publishes Venezuela Additional Provisions Protocol.

October 5, 2017
MarketAxess, in Partnership with EMTA, to Host Fourteenth Annual EM Charity Trading Day on October 11.

October 3, 2017
Warrant Record Date of September 30 and Payment Date of October 16 for Venezuela Oil Obligations.  Trades are "Ex-Dividend" on September 28.

September 28, 2017
Holiday Schedule for EM Bond Trades for US Columbus Day Holiday. 

EMTA Special Seminar: Further Improvements in the Market-Based Approach to Sovereign Debt Restructuring.  
September 22, 2017 
EMTA Publishes FX and Currency Derivatives Market Practice No 79 recommending new terms for the Nigerian Naira FX market. EMTA Members may CLICK HERE to view this Market Practice and may CLICK HERE to view the Implementation Protocol for this new Market Practice.  

September 21, 2017
S&P Global Ratings Downgrades China’s Long-Term Sovereign Credit Rating on China from AA- to A+.

September 20, 2017
EMTA's Twelfth Annual Forum in Singapore to be Held on October 24, 2017. Click Here to Register.

September 19, 2017
EMTA Announces 2Q 2017 EM Debt Trading Volume Stood at US$1.132 Trillion.

Venezuela’s Restructuring: A Realistic Framework (Mark Walker and Richard Cooper).

September 18, 2017
EMTA's Twelfth Annual Forum in Hong Kong to be Held on October 20, 2017. Click Here to Register.

September 13, 2017
Revised 2017 Holiday Schedule. 

September 12, 2017
EMTA Special Seminar: Further Improvements in the Market-Based Approach to Sovereign Debt Restructuring to be Held in New York on September 28, 2017. Click Here to Register.

EMTA Seminar on the Outlook for China in London to be Held on October 3, 2017. Click Here to Register.

September 11, 2017
EMTA's Third Quarter Bulletin is Now Available in our Bulletin Section.

September 7, 2017
EMTA Corporate Bond Forum in NYC to be Held on September 25, 2017. Click Here to Register.

September 6, 2017

EMTA Special Seminar: Argentina’s Midterm Elections to be Held in London on October 5, 2017. Click Here to Register

August 30, 2017
Fitch Downgrades Venezuela's Long-Term Foreign Currency Issuer Default Rating from CCC to CC.
  
EMTA Relocates - Effective, Friday, September 1, 2017, EMTA’s NY headquarters will be located at 405 Lexington Avenue, Suite 5304, New York, NY 10174. Staff e-mail addresses remain the same. Click Here for new staff phone numbers.

August 28, 2017
Fitch Downgrades Qatar's Long-Term Issuer Default Rating from AA to AA-.
  
Market Practice Recommendation for Settlement of Emerging Markets and Frontier Markets Eurobonds in Light of the Upcoming T+2 Settlement Cycle.

August 25, 2017

U.S. Sanctions New Debt and Equity Issuances by Venezuelan Government - Cleary Gottlieb Memo. 

The Trump Administration Imposed Sanctions on Venezuela and Its State-Owned Entities (Including PdVSA) Through an Executive Order, Which Involved Broad Trading Restrictions on Debt and Equity Transactions, But With Many Notable Exceptions. 
 
 
August 18, 2017 
 

EMTA Announces 2Q 2017 EM CDS Volume Stood at US$261 Billion. 

August 11, 2017
Fitch Downgrades Chile's Long-Term Foreign Currency Issuer Default Rating from A+ to A. 

August 7, 2017
EMTA Forum on Sub-Saharan Africa in London to be Held on Tuesday, September 19, 2017. Click Here to Register.

July 31, 2017
EMTA Fall Forum in NYC to be Held on September 11, 2017. Click Here to Register.

July 21, 2017
Global Group of Mozambique Bondholders Press Release.

July 17, 2017
Mozambique Ministry of Economy and Finance Press Release Relating to Non-Payment.

Second Circuit Rules that FSIA Provides Sole Basis for Jurisdiction over Foreign Sovereigns in Actions to Enforce ICSID Awards - Cleary Gottlieb Memo.

July 13, 2017
EM Charity Benefit in New York Scheduled for December 7, 2017 – Tickets Now on Sale.  Please CLICK HERE for more information.
 
S&P Global Ratings Downgrades Chile’s Long-Term Foreign Currency Rating from AA- to A+. 

July 11, 2017
S&P Global Ratings Downgrades its Long-Term Foreign Currency Sovereign Credit Rating on Venezuela from CCC to CCC-.

July 3, 2017
Bond Connect, a Mutual Bond Market Access Program between Hong Kong and China Launched. 

June 29, 2017
S&P Global Ratings Downgrades Ecuador’s Long-Term Foreign Currency Sovereign Credit Rating from B to B-.

Global Group of Mozambique Bondholders Welcomes Release of Kroll Summary Report and Comments on Recent Developments. 

June 27, 2017
Calculations for Payments on Uruguay VRR's Announced.

June 26, 2017
EMTA's Second Quarter Bulletin is Now Available in our Bulletin Section.

June 21, 2017
Holiday Schedule for EM Bond Trades for US Independence Day Holiday.

June 20, 2017
EMTA Announces 1Q 2017 EM Debt Trading Volume Stood at US$1.323 Trillion.
  
June 16, 2017
President Trump Announces Limited Roll-Back of Obama-Era Cuba Sanctions Relief – Cleary Gottlieb Memo.

Senate Adopts New Sanctions Targeting Russia and Iran – Cleary Gottlieb Memo.

June 12, 2017

EMTA Special Seminar: Outlook on South Korea (New York).

June 6, 2017
EMTA Special Seminar: Brazil: Recent Developments in Restructuring and Bankruptcy Reform.

IMF Discusses State-Contingent Debt Instruments for Sovereigns.

June 1, 2017
EMTA Summer Forum in London to be Held on June 27, 2017. Click Here to Register.

May 25, 2017
FX Global Code of Conduct Published.

May 24, 2017

EMTA has updated its Recommended FX and Currency Derivatives Market Practice No. 64 on Expiration Times for Russian Ruble Currency Option Transactions and the Guidance Note on Expiration Times for Non-Deliverable Currency Option Transactions. CLICK HERE to view Market Practice No. 64 and CLICK HERE to view the updated Guidance Note.

May 19, 2017
S&P Global Ratings Upgrades Its Long-Term Sovereign Credit Rating on Indonesia from BB+ to BBB-.

May 17, 2017

Holiday Schedule for EM Bond Trades for US Memorial Day/UK Spring Bank Holidays.

May 12, 2017 
S&P Global Ratings Downgrades Its Long-Term Rating on Oman from BBB- to BB+.

May 11, 2017
EMTA Special Seminar: Brazil: Recent Developments in Restructuring and Bankruptcy Reform to be Held in New York on June 6, 2017. Click Here to Register

May 10, 2017
EMTA Special Seminar: Outlook on South Korea to Held in New York on June 12, 2017. Click Here to Register.

May 8, 2017
EMTA Announces Reported 1Q 2017 CDS Trading Stood at US$404 Billion.

May 3, 2017
Fitch Upgrades El Salvador's Long-Term Local Currency Issuer Default Rating from RD to CCC; Long-Term Foreign Currency Issuer Default Rating Affirmed at CCC.

May 1, 2017
EMTA Spring Forum in NYC to be Held on May 23, 2017. Click Here to Register.

May 2017
State-Contingent Debt Instruments for Sovereigns – IMF Paper.

April 28, 2017

Fiscal Agent Notice Regarding May 15, 2017 Payment on Nigeria Payment Adjustment Rights. 

April 24, 2017
EMTA Forum in Los Angeles to be Held on May 18, 2017. Click Here to Register.

April 20, 2017
S&P Global Ratings Downgrades El Salvador’s Foreign Currency Sovereign Credit Rating from CCC- to SD. 

April 19, 2017
Holiday Schedule for EM Bond Trades for UK May Day Bank Holiday. 

April 17, 2017
Calculations for Payments on Venezuela Oil Obligations Announced.

April 12, 2017
EMTA Central America & Caribbean Forum to be Held in New York on May 16, 2017. Click Here to Register.

April 10, 2017
Fitch Downgrades El Salvador’s Long-Term Local Currency Issuer Default Rating from B to Restrictive Default (RD); and Long-Term Foreign Currency Issuer Default Rating from B to CCC.

April 7, 2017
EMTA Special Seminar: Recent Developments in Emerging Markets Arbitrations (New York). 

April 6, 2017
EMTA Forum in Zurich to be Held on May 11, 2017. Click Here to Register

April 5, 2017
Holiday Schedule for EM Bond Trades for Good Friday/Easter Monday Holidays.

April 4, 2017
S&P Global Ratings Upgrades Argentina’s Long-Term Sovereign Credit Rating on Argentina from B- to B.

April 3, 2017
S&P Global Ratings Downgrades South Africa’s Long-Term Foreign Currency Rating from BBB- to BB+.

EMTA Forum in Frankfurt to be Held on May 9, 2017. Click Here to Register.

April 1, 2017
The FMDQ OTC Securities Exchange Publishes New Foreign Exchange Rate Fixing Methodology.  

March 31, 2017
Warrant Record Date of March 31 and Payment Date of April 17 for Venezuela Oil Obligations.  Trades are "Ex-Dividend" on March 29. 

March 30, 2017
EMTA Special Seminar: Argentina Economic and Political Outlook in New York on April 26, 2017. Click Here to Register. 
 
March 29, 2017
EMTA Announces 2016 EM Debt Trading Stood at US$5.167 Trillion 

March 28, 2017
EMTA's First Quarter Bulletin is Now Available in our Bulletin Section.

March 21, 2017
EMTA Forum in Boston to be Held on April 18, 2017. Click Here to Register.

March 16, 2017
Sovereign GDP-Linked Bonds – Revised Overview, Revised Term Sheet, Payment Structure and Investor Feedback

March 8, 2017
EMTA Forum in Buenos Aires to be Held on March 21, 2017. Click Here to Register.

March 6, 2017
EMTA Special Seminar: Recent Developments in Emerging Markets Arbitrations in New York on April 7, 2017. Click Here to Register.

March 3, 2017
EMTA Forum in São Paulo to be Held on March 23, 2017. Click Here to Register.

Belize Bondholders’ Committee Supports Consent Solicitation. 

March 2, 2017
EMTA Announces Reported 4Q CDS Trading Stood at US$306 Billion.

February 8, 2017
Holiday Schedule for EM Bond Trades for US Presidents' Day Holiday. 

February 3, 2017
Mozambique Ministry of Economy and Finance Press Release.

February 1, 2017
Claudio X. Gonzalez, Chairman of the Board and former CEO of Kimberly-Clark Mexico, to Deliver Keynote Address at EMTA Seminar
on Mexico.  Click Here to Register.

January 26, 2017
EMTA Winter Forum in London to be Held on February 21, 2017. Click Here to Register.

January 24, 2017
EMTA Special Seminar: Recent Developments in Emerging Markets Arbitrations to be held in London on February 23, 2017. Click Here to Register.

January 23, 2017
EMTA Special Seminar: Mexico: The Trump Effect to be held in New York on February 13, 2017. Click Here to Register.

January 17, 2017
Belize Bondholder Committee Does Not Support Consent Solicitation.   

January 16, 2017

Mozambique Ministry of Economy and Finance Press Release Relating to Non-Payment. 

Mozambique Flat Market Practice Recommended.

Obama Administration Announces Suspension and Planned Termination of Sudan Sanctions – Cleary Gottlieb Memorandum. 

January 13, 2017
Bipartisan Group of Senators Introduces Draft Bill to Expand U.S. Sanctions Against Russia – Cleary Gottlieb Memorandum. 

January 9, 2017
EMTA Special Seminar on MENA/GCC Markets to be held in London on January 31, 2017. Click Here to Register
 
Belize Trustee Recognizes Bondholder Committee. 

January 6, 2017
Holiday Schedule for EM Bond Trades for Martin Luther King, Jr. Holiday.

Memorandum from Belize Financial Secretary to Bank of New York Mellon, as Trustee.
 
January 3, 2017

Former Venezuelan CenBank Pres Ruth Krivoy to Deliver Keynote at EMTA Seminar on Venezuela on Thursday, January 12, 2017. Click Here to Register. 

January 2017
Trump, Russia and Sanctions - Dechert Memo.

U.S. Effectively Lifts Sudan Sanctions – Dechert Memorandum.

December 20, 2016
US Government Modifies Sanctions Against Russia/Crimea – Dechert Memorandum.

December 19, 2016
EMTA Announces 3Q 2016 EM Debt Trading Volume Stood at US$1.379 Trillion. 

EMTA Corporate Bond Forum, Sponsored by UBS to be Held in London on January 25, 2017. Click Here to Register.
  
Calculations for Payments on Uruguay VRR's Announced.
 
December 14, 2016
Holiday Schedule for EM Bond Trades for Christmas, Boxing Day and New Year's Holidays. 

December 13, 2016
EMTA’s Sixth Annual Miami Forum to be held on January 17, 2017. Click Here to Register.

December 12, 2016
EMTA Special Seminar: Economic and Political Update on Venezuela to be Held in New York on January 12, 2017. Click Here to Register.

2017 Holiday Schedule. 

December 9, 2016
Sovereign GDP-Linked Bonds Seminar – Making it Happen.    

December 8, 2016
EMTA Recommended FX and Currency Derivatives Market Practice for Semi-Continuous Barrier and Binary Options in Certain Non-Deliverable Currency Pairs Updated as of December 8, 2016.  Members only may CLICK HERE to view the Market Practice.
 

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

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