A new global code to stamp out attempts at rigging the world’s currency markets may need tweaking just months after it was published, a senior Bank of England official said.
The dollar held steady, a day after investors trimmed short bets against it on a bounce in US bond yields to generate its second biggest daily gain against the yen this year.
The US currency’s longest losing streak in more than six years helped whip up demand for emerging-market assets last week.
The pound is on course for one of its best days of the year after inflation data came in ahead of forecasts , offering succor to the more hawkish members of the Bank of England’s finely-balanced Monetary Policy Committee, which meets this week.
Euro bulls, who have a pretty good year so far, are positioning for further gains, with long bets sitting at their highest level in six years.
Daily midpoint around which currency can trade is softened by the most in eight months.
Yuan, Chinese stocks have recovered after 2015 turmoil.
The end of the world’s biggest currency rally may be near but some Russian companies say another year of OPEC intrigue and elections won’t put the ruble’s new era of stability at risk.
If bitcoin is an outlaw in the world of currencies, China has until recently been its Wild West.
Finalising budget and completing team also on the slate for CFTC chairman Chris Giancarlo.
Chief executives of MarketAxess, Nex Group, MTS and Tradeweb urged European policymakers to make late tweaks to new Mifid II guidelines and prevent up to a fifth of the €400bn-a-day bond business moving to other markets around the world, they estimated.
Basel IV should be considered the final step in the arms race for tighter regulation, analysts at Societe Generale said.
Intitial coin offerings (ICO), the practice of creating and selling digital currencies to finance start-up projects, are “very high risk” and speculative, the Financial Conduct Authority said.
Concern over structural deficiencies as SOFR chosen to replace key benchmark.
European Union finance ministers will discuss this week a plan to attract more financial-technology companies, in a bid to bridge the gap with global competitors and offset the loss of Europe’s main fintech market after Britain leaves the bloc.
Thomson Reuters says that spot FX volumes across its platforms declined in August.
Executive search firm Options Group has acquired MCL Search, an executive search firm based in London specialising in electronic markets (trading and distribution), prime brokerage/clearing and financial trading technology with a focus on currencies and fixed income.
Andre Severi has joined Cürex Group as managing director.
FlexTrade has announced the integration of Dataminr’s global macro news feed into the FlexTrader EMS.
CFD broker CMC Markets has announced the completion of an integration with FlexTrade Systems to enable the wider dissemination of its proprietary CFD liquidity.
As previously reported by Profit & Loss, Alex MacKinnon has joined CFH Systems in Singapore to head up the firm’s newly-opened office in the city state.
The New Zealand dollar jumped as much as one per cent following the release of a new poll showing the governing National Party could rule alone after the country’s general election on September 23.
Despite the bank’s clear reluctance to move, inflation data once again sparked a jump in the currency.
China’s largest bitcoin exchanges are awaiting clarification from the government following more media reports that Beijing is planning to ban trading of virtual currencies on domestic exchanges, but markets were largely subdued.