Esma Calls for Extra Powers to Deal with Brexit Uncertainty
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Esma Calls for Extra Powers to Deal with Brexit Uncertainty – Financial Times
Europe’s top financial markets supervisor has called for powers to temporarily waive the application of EU rules and make quick fixes to problematic regulations as he warned of the unpredictable challenges of Brexit.
Read MoreLCH Boss Says No Big Shift in Euro Clearing Ahead of Brexit
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LCH Boss Says No Big Shift in Euro Clearing Ahead of Brexit – Reuters
There has been no big shift in euro clearing activity from London to the European Union ahead of Brexit, the chief executive of the London Stock Exchange’s clearing unit said on Wednesday.
Read MoreThe Unanswered Brexit Questions for Traders
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The Unanswered Brexit Questions for Traders – Financial Times
This month regulators responsible for capital markets spanning both the EU and the UK have signed agreements on data-sharing and surveillance for trading and clearing. However, brokers, banks and investors remain anxious for guidance on what will happen to some key areas of trading should Britain leave the EU on March 29 without an agreement.
Read MoreTraders Eye ‘Bad Trade’ in Swiss Franc Flash Fall
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Traders Eye ‘Bad Trade’ in Swiss Franc Flash Fall – Financial Times
The Swiss franc is the latest currency to have gone bump in the night.
Read MoreSocGen to Shrink Trading Unit, Cut Costs after Market Rout
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SocGen to Shrink Trading Unit, Cut Costs after Market Rout – Bloomberg
The Paris-based bank is replacing its global markets head and will review less profitable fixed income and currencies activities after a 29 percent decline in fourth quarter revenue.
Read MoreWall Street Banks Reckon the Dollar Must Fall. Traders Don’t Agree
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Wall Street Banks Reckon the Dollar Must Fall. Traders Don’t Agree – Bloomberg
As a growing chorus of analysts from the likes of Morgan Stanleyy and Nomura predict dark days for the dollar, the market is telling a different story.
- Dollar’s Shine Dulling, But Other Side Not Much Brighter: Reuters Poll – Reuters
- Dollar Is ‘Best of a Bad Bunch’ in Surprise Turn for Wall Street – Bloomberg
HSBC Cuts Dozens of Investment Banking Jobs
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HSBC Cuts Dozens of Investment Banking Jobs: Source – Reuters
HSBC is preparing to lay off dozens of staff in its global banking and markets business. Those affected will be informed this week.
Read MoreBrexit Agreement Reached to Bolster London Derivatives Clearing
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Brexit Agreement Reached to Bolster London Derivatives Clearing – Bloomberg
The Bank of England and European Union regulators have agreed to cooperate on oversight of clearinghouses, in the latest move by authorities to prevent problems stemming from a no-deal Brexit scenario. The deal will help business continue at the LSE, clearinghouses run by the London Metal Exchange and Intercontinental Exchange, as well as securities depositories based in the UK.
Read MoreBanks Fret over Investor Inaction on Brexit
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Banks Fret over Investor Inaction on Brexit – Financial Times
Leading banks have appealed for help from regulators after as few as 10 per cent of clients returned paperwork allowing them to trade smoothly in the event of a no-deal Brexit.
Read MoreEU Markets Watchdog Approves Brexit Agreement with Britain
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EU Markets Watchdog Approves Brexit Agreement with Britain – Reuters
The European Union’s markets watchdog said it has approved an agreement on supervisory cooperation with Britain after Brexit to avoid disruption to cross-border financial services like asset management.
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