August 2015 – Page 2 – Foreign Exchange Professionals Association

August 14, 2015 Julie RosglobalFXsource0

Commissioner Wetjen to Step Down from CFTC

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Commissioner Wetjen to Step Down from CFTC
Commissioner Mark Wetjen has announced his resignation from the US Commodity Futures Trading Commission, effective August 28, 2015.

August 13, 2015 Julie RosglobalFXsource0

What China’s Yuan Move Means for the Fed’s Liftoff

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What China’s Yuan Move Means for the Fed’s Liftoff – Wall Street Journal (subscription)
China’s tumult hasn’t dissuaded Wall Street of its view that liftoff could come this September…at least not yet.

August 12, 2015 Julie RosglobalFXsource0

China Cuts Yuan Rate Against US Dollar for Second Day

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China Cuts Yuan Rate Against US Dollar for Second Day – AFP
China cut the yuan’s value against the dollar for the second consecutive day Wednesday, roiling global financial markets and driving expectations the currency could be set for further falls.

August 11, 2015 Julie RosglobalFXsource0

Surprise China Devaluation Marks Escalation of Currency War

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Surprise China Devaluation Marks Escalation of Currency War – Financial Times (subscription)
Beijing has launched the latest attack in a growing currency war by devaluing its currency by almost 2% on Tuesday morning. The one-day move, done in a bid to boost failing exports, was the biggest since 1993 and may, analysts warn, be hard to reverse.

August 10, 2015 Julie RosglobalFXsource0

Basel IV is the Buzzword as Europe’s Banks Brace for Costs

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Basel IV is the Buzzword as Europe’s Banks Brace for Costs – Bloomberg

“Basel IV is coming.” Laurent Mignon, chief executive officer of Natixis SA, sounded that alarm on July 31, referring to the mass of regulatory work in the pipeline at the Basel Committee on Banking Supervision. The issue was raised on more than a dozen other European banks’ earnings calls in recent weeks.
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August 7, 2015 Julie RosglobalFXsource0

European Commission Introduces Mandatory OTC Swaps Clearing

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European Commission Introduces Mandatory OTC Swaps Clearing – Profit & Loss

The European Commission has adopted new rules that make it mandatory for certain OTC interest rate derivative contracts to be cleared through central counterparties.

August 6, 2015 Julie RosglobalFXsource0

Hayes Sentence Hangs Over FX Trader Tribunals

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Hayes Sentence Hangs Over FX Trader Tribunals – Profit & Loss

The 14-year jail sentence handed down to Tom Hayes over his role in the Libor scandal has sent shockwaves through the FX market as several traders now face tribunals over their role in the WMR Benchmark Fix scandal.

August 5, 2015 Julie RosglobalFXsource0

IMF Not Ready to Add RMB to its Reserve Currency Basket

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IMF Not Ready to Add RMB to its Reserve Currency Basket – Profit & Loss

The International Monetary Fund has issued a staff report stating that it is not ready to recommend that the renminbi (RMB) be added to the IMF’s Special Drawing Rights (SDR) currency basket.
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August 4, 2015 Julie RosglobalFXsource0

Hayes Handed 14 Year Prison Sentence for Libor Rigging

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Hayes Handed 14 Year Prison Sentence for Libor Rigging – Profit & Loss (free story)

Tom Hayes, the first individual to be charged and stand trial in the UK for manipulating the Libor benchmark, has been sentenced to 14 years in prison.

August 3, 2015 Julie RosglobalFXsource0

Four Further Banks Dragged into Fix Lawsuit: Accusations Widened

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Four Further Banks Dragged into Fix Lawsuit: Accusations Widened – Profit & Loss

The law firm undertaking a Class Action suit against several major FX banks has filed a second, broader Class Action that widens the range of currency pairs involved, the venues on which the alleged manipulation took place and the number of banks involved.

Monthly Archives: August 2015

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