Citigroup Currency Trader Settles Tokyo Wrongful-Dismissal Case
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Citigroup Currency Trader Settles Tokyo Wrongful-Dismissal Case – Bloomberg
A Citigroup currency trader in Tokyo who sued the US bank after it fired him for allegedly trying to manipulate foreign-exchange rates has settled the case. Read More
Euro to Weaken Following ECB’s Rates Decision?
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Euro to Weaken Following ECB’s Rates Decision? – Profit & Loss
The European Central Bank (ECB) has decided to hold interest rates steady, with market participants predicting further euro weakness.
CFTC Hands SocGen Fine for FX Reporting Failure
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CFTC Hands SocGen Fine for FX Reporting Failure – Profit & Loss
The US Commodity Futures Trading Commission (CFTC) has fined Société Générale $450,000 for failures in the reporting of certain FX transactions. Read More
Citi Says Behaved Appropriately in Sterling ‘Flash Crash’
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Citi Says Behaved Appropriately in Sterling ‘Flash Crash’ – Reuters
Citi said that its trading operations functioned appropriately in a thin and illiquid market during October’s “flash crash” in sterling, responding to a Financial Times report that a trader at the US bank exacerbated the pound’s fall.
Rogue Chinese Renminbi Exchange Rate Raises Eyebrows
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Rogue Chinese Renminbi Exchange Rate Raises Eyebrows – Financial Times (subscription)
Anyone checking the exchange rate between China’s renminbi and the US dollar would have got a shock early on Tuesday when an apparent glitch resulted in quotes shown on Google and at least two other currency exchange websites showing an eight per cent devaluation.
Euro Rebounds After Hitting 21-Month Low on Italian Referendum Defeat
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Euro Rebounds After Hitting 21-Month Low on Italian Referendum Defeat – Reuters
The euro rebounded from 21-month lows, clawing back almost all the ground it had lost overnight after Italian Prime Minister Matteo Renzi conceded defeat in a referendum on plans to reform the country’s constitution and said he would resign.
Want to Opt Out of BARX Last Look Settlement? Your Deadline is March 30
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Want to Opt Out of BARX Last Look Settlement? Your Deadline is March 30 – Profit & Loss
Participants in a class action lawsuit that alleges Barclays abused last look on its proprietary trading platform BARX have until March 30 2017 to opt out of the proposed $50 million settlement. Read More
Transatlantic Cables May Keep FX Routed Through London Post-Brexit
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Transatlantic Cables May Keep FX Routed Through London Post-Brexit – Reuters
High-speed sub-Atlantic cables may force banks to keep their armoury of currency trading hardware in London for some time, even if the dealers themselves go elsewhere when Britain leaves the European Union. Read More
Trump, Rising US Yields Knock Asia FX in November
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Trump, Rising US Yields Knock Asia FX in November – Reuters
Emerging Asian currencies were set to post monthly losses in November after Republican Donald Trump’s surprise US election win inspired a rousing rally in the dollar. Read More
FINRA Seeks Quicker Process on Disruptive Quoting
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FINRA Seeks Quicker Process on Disruptive Quoting – Profit & Loss
The US Financial Industry Review Authority has filed a notice with the Securities and Exchange Commission that will enable it to clamp down on what it considers “disruptive quoting and trading activity” much quicker than is currently possible. Read More