Top Headlines

Bats Global Markets, Inc. Announces Pricing of Its Initial Public Offering

Bats Global Markets, Inc. (“Bats”), a leading global operator of exchanges and services for financial markets, today announced the pricing of its initial public offering at a price to the public of $19.00 per share. The size of the offering has been increased from the initially announced 11,200,000 shares of common stock to 13,300,000 shares of common stock.

Brexit Marks Pound as Currency to Avoid – Financial Times

The market’s version of the naughty step was a crowded place at the start of the year. Areas behaving badly and causing investors no end of worry included the oil price, China, the US economy and Brexit fears.

It Looks Like the Beginning of the End of Central Bank Easing – The Economic Times

Traders are now taking the long view on central bank easing, shifting focus to which monetary policymakers will be the first to change course and withdraw stimulus, according to Bank of America Merrill Lynch FX strategist Athanasios Vamvakidis.

G-20 Currency Promise Doesn’t Limit Negative Rates, Aso Says – Bloomberg

The Bank of Japan’s policy is not affected by the international community’s pledges to avoid targeting exchange rates, Japanese Finance Minister Taro Aso said, adding that he told U.S. Treasury Secretary Jack Lew of his “strong concern” about recent moves in the yen.

China’s Currency, The Renmimbi, Is Not The New CDO – Forbes

This is not the mid-2000s, and China’s currency is not the new subprime some hedge funds are betting on. At least not yet.

Japanese OTC Forex Volumes Drop 26% MoM in March 2016 – LeapRate

The Financial Futures Association of Japan (FFAJ) has just published the monthly operating metrics of its members that offer Forex and binary options trading over the counter for March 2016.

S.Korea Foreign Exchange Deposits in March Rise for the First Time in 5 Months – Reuters

Foreign exchange deposits at South Korea’s banks rose by 13 percent in March from the previous month to the highest level since November 2015, central bank data showed on Friday.

Currencies across Asia Fall Sharply Against U.S. Dollar – Wall Street Journal

Currencies across Asia including the Chinese yuan dropped sharply against the U.S. dollar Thursday, with markets caught off-guard as the Singapore central bank restrained the appreciation of its currency to stoke growth.

Regulatory News

FCA Sandbox Could Be Key in Mifid Prep – FOW

The Financial Conduct Authority’s new sandbox initiative development could be a key development in market preparations for Mifid II, market experts have said.

Financial Conduct Authority and Prudential Regulation Authority Jointly Publish Proposals to Enhance Enforcement Decision-Making Processes – Bank of England

The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have today published proposals aimed at strengthening the transparency and effectiveness of the FCA’s and PRA’s enforcement decision-making processes.

Company News

Citigroup Expected to Report Weaker Earning, Revenue – Wall Street Journal

The investment bank is expected to report lower earnings and revenue when it releases first-quarter results Friday. Having posted its biggest annual profit last year in nearly a decade, investors are watching if Citi can keep up the momentum.

Negative Rates: How One Swiss Bank Learned to Live in a Subzero World – Wall Street Journal

Negative interest rates are rattling banks around the world, but one small Swiss lender has learned to stop worrying and lean in.

Market Savvy

China End-March Foreign Exchange Deposits at $666.0 bln – Reuters

China’s foreign exchange deposits stood at $666.0 billion at the end of March, up from $655.2 billion at the end of February, the central bank said on Friday.

IMF Urges Shake-Up of Greek Bailout – Financial Times

Last year’s deal on an €86bn bailout to prevent Greece from leaving the eurozone may need to be completely renegotiated with more realistic fiscal targets for the International Monetary Fund to take part in the rescue, its chief has warned.

China’s Economy Stabilized in First Quarter – Bloomberg

China’s economy stabilized last quarter and gathered pace in March as a surge in new credit spurred a property sector rebound while raising fresh questions over the sustainability of the debt-fueled expansion.

Dollar Slide Pauses as Global Central Banks Cue Up More Easing – Bloomberg

The U.S. currency, down 4.2 percent this year, inched higher Thursday following its biggest one-day gain in three weeks as central bankers abroad seek to limit further gains in their currencies versus the greenback.

Press Releases

Exchange and CCP Leaders to Assemble in Kuala Lumpur, Malaysia for WFE-IOMA Annual Clearing & Derivatives Conference – Converging Global Capital Market – MondoVisione

Exchange and clearinghouse leaders will assemble in Kuala Lumpur next week for the World Federation of Exchanges’ (WFE) 33rd annual Clearing and Derivatives Conference.  The IOMA conference, which will take place 17-19 April, will be a forum for the discussion of post-trade issues affecting the global landscape.


Industry Events

Profit & Loss Latin America, 20 April in Mexico City

ACI World Congress 2016 – Indonesia, 26-30 April, Jakarta

Eurofinance:  Asia Treasury, 18-20 May in Singapore

Profit & Loss Forex Network New York, 26 May, New York City

FIA: IDX 2016, 7-8 June in London, England

Profit & Loss Forex Toronto, 9 June, Toronto

Profit & Loss Scandinavia, 13 September, Copenhagen

Profit & Loss Forex Network Chicago, 28-29 September, Chicago, IL

Sibos 2016, 26-29 September in Geneva, Switzerland

FIA: Expo, 18-20 October in Chicago, IL