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UK Competition Watchdog Clears CME Group’s Buy of NEX Group – Reuters
Britain’s competition watchdog cleared CME Group’s 3.9 billion pounds deal to buy Michael Spencer’s NEX Group, paving the way for a cross-border trading powerhouse.
Monthly Archives: October 2018
EU Pledges Access to UK Clearing Houses in No-Deal Brexit
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EU Pledges Access to UK Clearing Houses in No-Deal Brexit – Financial Times (subscription)
Brussels has responded to financial industry calls for continued access to London’s capital markets by providing reassurance that EU groups will temporarily be able to use crucial derivatives clearing services in the UK even after a no-deal Brexit.
Bank Traders Acquitted in Forex Manipulation Trial
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Bank Traders Acquitted in Forex Manipulation Trial – Financial Times (subscription)
After a two-week trial in New York, a jury spent less than a day deliberating on a single charge of price-fixing against each of the defendants: Richard Usher, formerly of JPMorgan Chase; Rohan Ramchandani, formerly of Citigroup; and Christopher Ashton, formerly of Barclays.
UK Derivatives Clearers May Get No-Brexit Deal Reprieve – EU Document
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UK Derivatives Clearers May Get No-Brexit Deal Reprieve – EU Document – Reuters
The European Union might grant temporary permission for clearing houses in Britain to continue serving EU customers if there is a no-deal Brexit next March, an EU document seen by Reuters showed.
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US Attorney: All Avenues Exhausted for Scott’s Extradition
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US Attorney: All Avenues Exhausted for Scott’s Extradition – FX Week (subscription)
Former HSBC trader Stuart Scott has won the right to stay in the UK and avoid extradition to the US to face charges of allegedly manipulating currency prices after the UK Supreme Court denied an appeal request submitted by the US.
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Trump Steps Up Attacks on Fed Chairman
Trump Steps Up Attacks on Fed Chairman – Wall Street Journal (subscription)
President Trump escalated his attacks on Federal Reserve Chairman Jerome Powell, saying the head of the nation’s central bank threatened US economic growth and appeared to enjoy raising interest rates. Read More
Brexit Is Ripping the World’s Financial Plumbing Apart
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Brexit Is Ripping the World’s Financial Plumbing Apart – Bloomberg
With Brexit inflaming rhetoric between the UK, US and Europe, banks and exchanges are doing their best to prepare for the worst. The risk of the world’s financial plumbing breaking down along national lines, triggering extra cost and disruption, is becoming real.
EU Derivatives Market Valued at €660 Trillion
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EU Derivatives Market Valued at €660 Trillion – The Trade
The derivatives market in the European Union has been valued at €660 trillion, with interest rate derivatives dominating the market, followed by currency derivatives.
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Would FXMarketSpace Have Worked in the Current Environment?
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Would FXMarketSpace Have Worked in the Current Environment? – Profit & Loss
It was 10 years ago yesterday that one of the higher profile ventures of recent years in the FX space shut its doors. To me the problems with FXMarketSpace were simple: it attracted the wrong sort of trading firm at the time; it failed to get a netting solution off the ground; and it was too transparent – and by that I mean it was on a hiding to nothing by publishing volumes at such an early stage. But would the FXMS model work now?
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The New Learning Curve: Using the Data
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The New Learning Curve: Using the Data – Profit & Loss
The paradox of data is, as observed by panellists at Forex Network Chicago, while the data itself is becoming cheaper and more easily accessible than ever before, the resources being allocated to analysing it are increasing, bringing with it increased costs.
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