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.