Barclays Took a Last Look at its FX Trades

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Barclays Took a Last Look at Its FX Trades – Bloomberg This is bad customer service: On June 6, 2011, in an email discussion about Last Look, a Barclays Managing Director and Head of Automated Electronic FX Trading wrote: “Do not involve Sales in anyway [sic] whatsoever…”


Incomplete Investigation Helped Stimpson Win Case – Profit & Loss The written judgement in the case of Perry Stimpson and Citi finds that the claimant was dismissed but generally speaking on a technicality, with the judge finding that the bank’s own investigation into the matter were not thorough enough.

Rate-Rise Bets Heat Up After Fed Minutes – Wall Street Journal (subscription) A key measure of bets that U.S. short-term interest rates will rise reached their highest level in more than a year, as investors prepared for the first Federal Reserve rate increase since 2006.

BOJ Keeps Policy Steady Despite Recession, sees Capex Rebound – Reuters The Bank of Japan kept its monetary stimulus program unchanged on Thursday, with Governor Haruhiko Kuroda holding fast to his view that the corporate capital expenditure vital to economic growth will pick up.

NYSE Kills ‘Land Mine’ Order Type Some Blame for August Mayhem – Bloomberg The New York Stock Exchange is eliminating an order type that investors including BlackRock Inc. blame for exacerbating extreme share-price swings on Aug. 24.

 

 

Regulatory News

BIS Trading Book Interim Impact Analysis – Profit & Loss The Basel Committee on Banking Supervision has published the results of its interim impact analysis of its fundamental review of the trading book, assessing the impact of proposed revisions to the market risk framework.

UK FCA to Scrutinise Asset Management Industry – Financial Times The UK’s £6.6tn asset management industry is facing a sweeping antitrust review over the fees it charges, underlining how regulators are increasingly turning their focus from banks to other key parts of the financial sector.

CFTC Files Charges on IB Capital FX – Profit & Loss The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement Complaint charging IB Capital FX, Michel Geurkink, and Emad Echadi, individually and as the agents of IB Capital, with soliciting and accepting at least $50 million from at least 960 clients worldwide.

 

 

Company News

Barclays, Deutsche to Settle New FX Fines? – Profit & Loss Barclays and Deutsche are facing fresh misconduct claims in FX markets.

Ceinex Launches in Frankfurt – Profit & Loss China Europe International Exchange (Ceinex), the joint venture of Shanghai Stock Exchange (Sse), Deutsche Börse and China Financial Futures Exchange (Cffex) has successfully launched in Frankfurt. First trades have already taken place in the first hours of market operations.

Integral Bolsters its Ranks With Senior FX Hires – Profit & Loss In addition to hiring Soren Haagensen from Societe Generale in New York, Integral has also appointed Alan Scott from 360T in London and Takasji Ozeki from the Internet Initiative Japan (IIJ) in Tokyo to senior positions within the company.

Celoxica Extends its Feed Handler and Gateway Portfolio – Profit & Loss Celoxica has announced the extension of its Celoxica Feed Handler and Gateway portfolio to further support interest rate markets by including the BrokerTec and Nasdaq eSpeed venues.

 

 

Market Savvy  

FX Retail Traders Say Discipline and Risk Management Are Most Important – Profit & Loss Oanda has surveyed its traders to uncover what is most critical to their trading performance and provide tips for new traders for 2016.

The Curious Case of Risk and The Euro – Euromoney The euro has emerged as a funding currency, and traditional euro/dollar safe-haven dynamics have broken down.

Commodity Markets in Worse Shape Than in 2009, and More Risks to Outlook – Reuters Bargain hunters tempted by lowest prices in more than 5 years, but forward curves for key commodities point to bleak outlook.

Clearinghouse Basis Hits Interest-Rate Hedging – IFR A difference in pricing for interest rate swaps across the two main clearinghouses for US derivative contracts has blown out to all-time wides this week.

 

 

Press Releases

ICE Futures Singapore Launches with Commodity and FX Contracts Serving Asian Markets – Business Wire Intercontinental Exchange the leading global network of exchanges and clearing houses, announced the successful launch of trading and clearing for ICE Futures Singapore and ICE Clear Singapore.

EBS Market to List SGX FX Block Futures – Profit & Loss EBS BrokerTec and Singapore Exchange (SGX) have announced plans to launch SGX listed FX block futures on EBS Market.

 

 

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