Top Headlines

Basel IV is the Buzzword as Europe’s Banks Brace for Costs – Bloomberg

“Basel IV is coming.” Laurent Mignon, chief executive officer of Natixis SA, sounded that alarm on July 31, referring to the mass of regulatory work in the pipeline at the Basel Committee on Banking Supervision. The issue was raised on more than a dozen other European banks’ earnings calls in recent weeks.

FX Technology Investment Strategies Revealed – Euromoney

While substantial investment has been made in FX technology since the global financial crisis, there are areas of the market where its impact has yet to be felt.

Swap Basis Emerges as Clearinghouse Concern – Risk

A price difference for trading U.S. dollar swaps that clear at CME Group versus LCH.Clearnet’s SwapClear has raised concerns among clearinghouses. The central counterparties are worried that a basis could emerge for contracts they clear and push business away.

Brazil’s Central Bank to Increase FX Intervention – Profit & Loss
Brazil’s central bank has said that it plans to increase its daily intervention in the FX market, as the real continues to weaken sharply against the dollar amid economic and political uncertainty.

Vietnam to Open Derivatives Market – Profit & Loss
A market for index futures and government bond futures will open in Vietnam next year, according to the government website.

Towards a Hybrid FX Market
Almost from the moment it started to move towards electronic trading from 1993, many have predicted FX would migrate to an exchange environment. But it hasn’t, remaining predominantly an efficient OTC market.

Will Exchanges Get a Piece of the FX Pie? – Finance Magnates

As the multi-trillion-dollar, decentralized foreign exchange (FX) market has come under increasing scrutiny from regulators and as electronic trading technology develops, there are signs that exchanges are encroaching upon a market that has traditionally been the reserve of big banks.

Regulatory News

Exchanges to Testify at US State Hearing – FOW Intelligence

The top US options exchanges are set on Thursday to appeal to the US Department of Labour to water-down planned rules that they argue could significantly impact the US options market.

New OCC Task Force on Banking Innovation – Compliance Week

The Office of the Comptroller of the Currency is pulling together a new team to consider the regulatory implications of new advances in the banking sector.

Company News

GMEX Exchange Up and Running as Planned FOW Intelligence

European futures market GMEX Exchange went live as scheduled on Friday morning, ushering in a new approach to hedging interest rate risk.

FXCM Targets Leucadia Repayment by Year-EndProfit & Loss

FXCM CEO, Drew Niv, says that the firm is hoping to pay off the $310 million that it owes Leucadia National Corporation by the end of 2015.

Saxo Creates New Chief Experience Officer RoleProfit & Loss

Saxo Bank has appointed Philip Wegloop to the newly created role of chief experience officer, effective October 1, 2015.

Market Savvy  

Dollar Ekes Out Gains Aided by US Rate Hike View – Reuters

The dollar stayed close to a nearly four-month high against a basket of currencies on Monday, after steady U.S. jobs growth backed expectations that the U.S. Federal Reserve could raise interest rates in September.

Can Stocks Hold Up as the US Dollar Rises and Commodities Fall? – Reuters

The question investors are pondering during the remainder of the northern hemisphere summer is whether major stock markets can sustain this year’s relatively high valuations given the slump in commodity prices, a firm U.S. dollar, and the likelihood of a Federal Reserve interest rate rise in September.

AllianceBernstein Defends its Positive RMB Outlook – Profit & Loss

AllianceBernstein has defended its positive outlook for the renminbi (RMB), claiming that the future of the currency will be shaped by fundamentals and arguing that China’s reform program remains on track in the long-term.

Press Releases

Markit Launches Centralised FX Trade Confirmation Service

Markit, a leading global provider of financial information services, today announced the launch of its FX trade confirmation service.

Industry Events