Has FX Turned a Corner?
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Has FX Turned a Corner? – Profit & Loss
Now that MiFID II is in force and the industry has had time to digest the Global Code of Conduct, platform providers will face fewer distractions in 2019.
Read MoreInvestment Bank Research Teams Suffer Deepest Job Cuts
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Investment Bank Research Teams Suffer Deepest Job Cuts – Financial News
Investment banks’ research divisions were the hardest hit by job cuts last year, as sweeping European trading regulations introduced in January 2018 started to impact analyst numbers.
- Top 12 Banks’ Revenues Level Off after Four-Year Decline – Global Investor (subscription)
- The Absolute Worst Places to Work in Banking Now. And the Absolute Best – eFinancialCareers
Wall Street Banks Trampled All Over Their European Rivals in 2018
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Wall Street Banks Trampled All Over Their European Rivals in 2018 – Bloomberg
JP Morgan gained some of the biggest shares in both fixed income and equities trading last year, solidifying its leadership in one and nearing the top in the other. Deutsche Bank lost ground in both markets while trying to restructure its business.
Read MoreUS and UK Strike Long-Term Derivatives Deal
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US and UK Strike Long-Term Derivatives Deal – Financial Times
UK and US markets regulators have finalised a sweeping long-term agreement to jointly oversee each other’s derivatives markets after Brexit, removing concerns of financial turmoil in the $481tn market if Britain leaves the EU without an agreement.
Read MoreEuropean Banks Wield Axe after Bleak Fourth Quarter
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European Banks Wield Axe after Bleak Fourth Quarter – Financial Times
One of the most brutal trading quarters in memory has sparked another round of soul-searching at Europe’s few remaining investment banks, with some concluding the only option is to wield the axe again.
Read MoreFinance v Physics: Even ‘Flash Boys’ Can’t Go Faster than Light
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Finance v Physics: Even ‘Flash Boys’ Can’t Go Faster than Light – Financial Times
Five years ago, Michael Lewis’ book Flash Boys described finance houses’ efforts to whizz data ever faster between Chicago and New York in a battle to grab a millisecond edge over each other. It was head-spinning stuff – not least because those millisecond margins were what enabled the traders to make profits. But today this picture looks almost tame, according to Donald Mackenzie, a finance and sociology professor at the University of Edinburgh.
Read MoreThe Prosecution That Never Was
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The Prosecution That Never Was – Profit & Loss
In this Profit & Loss exclusive, Rohan Ramchandani, who was recently acquitted of FX market manipulation by a jury in New York, breaks his silence on the case and gives his perspective on why he believes the prosecution’s arguments were fundamentally flawed.
Read MoreCalm Currency Markets at Odds with Conventional Wisdom
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Calm Currency Markets at Odds with Conventional Wisdom – Financial Times
Things are calm in currency markets. But it is not the reassuring kind of calm. Conventional wisdom suggests that macroeconomic uncertainty should be generating swings in prices.
Read MoreGFXC Survey Confirms Increased Code Adoption, But Work Still Required
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GFXC Survey Confirms Increased Code Adoption, But Work Still Required – Profit & Loss
The 2018 FX Global Code Survey results have been released and while, expectedly, the last year saw significantly increased adoption rates amongst firms, there are areas of potential concern for proponents of the Code.
- Cover and Deal? Model Requires Role Disclosure: GFXC – Profit & Loss
- GFXC Releases Initial Views on Anonymous Venue Disclosures – Profit & Loss
- GFXC Publishes Disclosures Report – Profit & Loss
Europe’s Traders Throw in the Towel in Race with Wall Street
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Europe’s Traders Throw in the Towel in Race with Wall Street – Bloomberg
A decade after the financial crisis, firms that had spent years pursuing the US heavyweights are cutting jobs and allocating less capital to the business of trading securities. They’re all but throwing in the towel on a key piece of investment banking after yet another year in which their trading divisions failed to keep up with their American rivals.
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