Blackstone Buys $17 Billion Stake in Thomson Reuters Financial & Risk – Profit & Loss

US private equity group Blackstone has agreed to buy 55% of the Financial and Risk (F&R) business of Thomson Reuters – a unit that includes the trading platforms owned by the firm.

Sigelbaum Appointed to Head FXall – Profit & Loss

Jill Sigelbaum has been appointed as the new head of Thomson Reuters FXall, based in New York.

Sterling Edges Down But Still on Track for Best Month vs. Dollar Since 2010 – Reuters

Sterling slipped against the dollar and euro on news that European Commission officials had rejected the City of London’s proposal to strike a post-Brexit free trade deal on financial services.

Dollar Set for Biggest Monthly Loss in Nearly Two Years as Outlook Weakens – Reuters

The dollar fell by a quarter of a percent, putting it on track for its biggest monthly drop in nearly two years as US President Donald Trump’s first State of the Union address failed to offer any comfort to ailing dollar bulls.

HSBC Nudges Down Dollar Forecasts on US Trade Policy Uncertainty – Financial Times (subscription)

The bank said it now expects the buck to be weaker against the euro, UK pound and Japanese yen at the end of this year, compared with its estimate coming into 2018.

House of Lords Warns on Brexit Fragmentation – Markets Media

The House of Lords, the second chamber of the UK Parliament, warned that fragmentation of markets after the UK leaves the European Union will increase costs and weaken financial stability, especially if clearing is forced to relocate.

EU Is Refusing to Budge on Post-Brexit Financial Services – Bloomberg

UK banks will have limited access to the European Union’s single market after Brexit if the government refuses to weaken its red lines, the European Commission told diplomats, according to two people familiar with private discussions in Brussels.

FCMs Demand Self-Certification Overhaul After Bitcoin Debacle – Risk (subscription)

The race between two of the US’s largest futures markets to launch bitcoin futures last month has sparked a backlash from clearing banks, which are calling for changes to the self-certification process for listing new derivatives contracts.

Flash-Crash Trader Helps US in Fight Against Market Abuse – Financial Times (subscription)

Briton in spoofing case co-operates with prosecutors in plea deal.

Facebook to Ban Cryptocurrency-Related Ads – Reuters

Facebook said it will ban ads promoting financial products and services tied to cryptocurrencies and initial coin offerings.

Regulatory News 

US Regulators Subpoena Crypto Exchange Bitfinex, Tether – Bloomberg

US regulators are scrutinizing one of the world’s largest cryptocurrency exchanges as questions mount over a digital token linked to its backers.

SEC Freezes Crypto Assets of $600 Million Initial Coin Offering – Bloomberg

Action is first involving cryptocurrencies by US agency.

New Cryptocurrency Rules Just Came Into Effect in South Korea – CNBC

Rules in South Korea that tackle anonymity and money laundering in the cryptocurrency space take effect.

MEPs and Markets Split Over Mifid II Data Rules – Financial News

There is confusion about whether regtechs should have to pay for trade data under the EU’s revised regulatory framework.

New York Fed Board Starts Talks with Possible Dudley Successors – Bloomberg

The Federal Reserve Bank of New York’s board of directors has started preliminary discussions with potential candidates to succeed President William Dudley, who plans to retire later this year.

Company News 

NEX to Raise Brokerage – Profit & Loss

NEX Markets has raised brokerage on its Select and Direct platforms following last year’s release of NEX Analytics and what Tim Cartledge, head of FX at NEX Markets, terms, “a range of improvements” to the platform including better aggregation logic and sweeping capabilities.

Millennium to Lose Lisa Scott-Smith – FX Week (subscription)

The co-head of portfolio investments and the currency team manager at Millennium Global is set to leave early March.

Duco Secures $28m Investment – Profit & Loss

Duco, a data engineering technology company, has completed a $28m investment round by Insight Venture Partners, Nex Opportunities and Eight Roads Ventures.

Finastra Buys FX Platform Provider Olfa Soft – Waters Technology

Finastra will combine Olfa Soft ‘s Seamless FX platform with its FusionCapital Treasury solution.

Market Savvy

US Dollar in Broad Decline; Renminbi Rallies to Highest Since 2015 – Financial Times (subscription)

China’s currency posted robust gains. The onshore renminbi climbed 0.55 per cent while its offshore counterpart rose 0.43 per cent to Rmb6.29 and Rmb6.30 respectively.

Asian Currencies Tick Up on Weak Dollar, Set to End January Higher – Reuters

Asian currencies posted modest gains caution ahead of the Federal Reserve decision due later capped strength in regional units against the dollar after US President Donald Trump’s State of the Union address.

Digital Coins Tumble in January Amid Facebook, Tether Concerns – Bloomberg

Digital coins have mostly slid this week, with Bitcoin heading for its worst monthly decline since February 2014.