Pound Drops to Lowest Since 1985 as Angst Builds Over Brexit
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Pound Drops to Lowest Since 1985 as Angst Builds Over Brexit – Bloomberg
The pound tumbled to its lowest level in three decades amid mounting concern the UK is heading for a so-called hard Brexit that would restrict access to the European Union’s single market.
Barclays FX ‘Superstar’ Trader Ashton Loses Dismissal Suit
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Barclays FX ‘Superstar’ Trader Ashton Loses Dismissal Suit – Bloomberg
A “superstar” Barclays trader fired amid the foreign-exchange market manipulation scandal lost his unfair dismissal case in London, three weeks after regulators banned him from the US banking industry.
MiFID II Expected to Cost Buy-Side Over $1 Billion
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MiFID II Expected to Cost Buy-Side Over $1 Billion – The Trade
Implementing MiFID II has been forecast to cost the financial industry a total of $2.1 billion in 2017, according to a recent report. Read More
ASIC Bans Rogue Deutsche Bank Trader for Life
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ASIC Bans Rogue Deutsche Bank Trader Andrew Donaldson for Life – Sydney Morning Herald
A former Deutsche Bank currency trader has been permanently banned from the industry after a series of false trades artificially boosted the bank’s revenue by 28 million euros.
Currenex Launches X2 Platform for Institutional Clients
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Currenex Launches X2 Platform for Institutional Clients – Profit & Loss
Currenex has launched a new trading platform, X2, designed in response to the changing liquidity profile of the FX market and the evolving requirements of institutional FX traders. Read More
Forex Markets Hand Debate to Clinton
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Forex Markets Hand Debate to Clinton – Financial Times (subscription)
Movements in the currency markets suggested Hillary Clinton emerged victorious in the US presidential debate over Donald Trump, with notable moves in the Mexican peso, Canadian dollar and Japanese yen.
CBOE Holdings to Buy BATS Global in $3.2 Billion Deal
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CBOE Holdings to Buy BATS Global in $3.2 Billion Deal – Reuters
CBOE Holdings, the operator of the largest options exchange in the United States by volume, said it would buy BATS Global Markets Inc for about $3.2 billion, just over five months after BATS made its market debut. Read More
CBOE in Talks to Buy Smaller Exchange Rival Bats
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CBOE in Talks to Buy Smaller Exchange Rival Bats – Financial Times (subscription)
CBOE, the US exchange best known for the Vix volatility indices, is in talks to purchase smaller rival Bats Global Markets in a deal that underscores consolidation sweeping through the US options industry, people briefed about the negotiation said.
Dollar Weakens After Fed Leaves Rates Unchanged
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Dollar Weakens After Fed Leaves Rates Unchanged – Bloomberg
The US dollar extended losses against a basket of major currencies on Wednesday after the US Federal Reserve left monetary policy unchanged and projected a less aggressive rise of interest rates in coming years.
US Judge Narrows Currency Rigging Lawsuit Against Seven Banks
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US Judge Narrows Currency Rigging Lawsuit Against Seven Banks – Reuters
The US judge overseeing litigation accusing 16 banks of rigging prices in the $5.3 trillion-a-day foreign exchange market on Tuesday narrowed but refused to dismiss lawsuits against Deutsche Bank, Morgan Stanley and five other large banks that have yet to settle. Read More