Five More Banks Settle Benchmark Claims
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Five More Banks Settle Benchmark Claims – Profit & Loss
Five banks have filed to settle a class action lawsuit brought against them over FX benchmark manipulation claims.
Libor Will End in 2021 Says Britain’s Top Financial Regulator
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Libor Will End in 2021 Says Britain’s Top Financial Regulator – City AM
Financial Conduct Authority (FCA) boss Andrew Bailey said the London interbank offered rate (Libor) will no longer receive the backing of regulators as the industry tries to move to a more reliable marker.
ECB Encourages Commitment to Global Code by May 2018
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ECB Encourages Commitment to Global Code by May 2018 – Profit & Loss
The European Central Bank (ECB) is publicly endorsing the statement of Commitment set out in the FX Global Code of Conduct and is encouraging FX trading counterparties to do the same. Read More
US Signals Clampdown on Red-Hot Digital Coin Offerings
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US Signals Clampdown on Red-Hot Digital Coin Offerings – Bloomberg
US regulators said they have jurisdiction over one of the hottest new areas of finance: initial coin offerings of digital currencies.
Dollar Rebounds From 14-Month Low as Fed Awaited, Meetings Eyed
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Dollar Rebounds From 14-Month Low as Fed Awaited, Meetings Eyed – Bloomberg
The dollar rebounded slightly from a 14-month low as Treasury yields rose while markets awaited this week’s Federal Reserve meeting and kept a wary eye on Capitol Hill meetings that involve members of the Trump administration.
Deutsche, JPM Move to Settle Libor Class Action
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Deutsche, JPM Move to Settle Libor Class Action – Profit & Loss
Deutsche Bank and JP Morgan have filed court documents seeking to settle a class action claim brought against them and other market participants over alleged Yen interest rate benchmark manipulation.
Not Backing Down: Euro Breaks New Highs Above $1.1650
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Not Backing Down: Euro Breaks New Highs Above $1.1650 – Financial Times (subscription)
This break higher euro may not be exactly what European Central Bank chief Mario Draghi had in mind. But it’s no blip.
Euro Holds Below 14-Month Highs Before ECB Decision
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Euro Holds Below 14-Month Highs Before ECB Decision – Reuters
The euro hovered below a 14-month high before a policy decision by the European Central Bank that may lay the grounds for a policy shift later this year. Read More
Study Seeks to Challenge FX Aggregation Assumptions
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Study Seeks to Challenge FX Aggregation Assumptions – Profit & Loss
A study released by Deutsche Bank seeks to challenge the assumption that having more liquidity providers in an aggregator inevitably leads to better execution. Read More
BNP Paribas Agrees $246m FX Settlement
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BNP Paribas Agrees $246m FX Settlement – Profit & Loss
BNP Paribas (BNPP) has agreed a $246 million settlement with the Board of Governors of the Federal Reserve System (FRB) relating to past misconduct in its foreign exchange business.