“The banks were a hotbed of innovation and the biggest change I’ve seen in FX is how, over time, this has all been locked down.”
A battle that threatens London’s dominance in the derivatives market is rearing its head, with European firms at risk of being blocked from using clearinghouses in the British capital within six months.
The European Union says it is still waiting for useful proposals from London to unblock stalled talks on the terms of the UK’s departure from the bloc.
Executives from the biggest U.S. financial firms, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., are meeting with top regulators in Beijing in a sign that the trade war with the U.S. has done little to derail China’s opening of its $43 trillion financial system.
As the internationalisation of the renminbi progresses and Chinese capital markets open up, the direction of travel for the currency can only increase, according to market participants.
Does China need Hong Kong as a financial centre? The People’s Daily certainly thinks so.
After the swearing in of a new chairman in July, the US Commodity Futures Trading Commission is staffed up and getting down to business. And based on recent remarks from Joshua Sterling, the agency’s new director of the CFTC’s Division of Swap Dealer and Intermediary Oversight, that business will include an increased focus on the oversight of swap dealers and asset managers.
The new head of the US Commodity Futures Trading Commission has promoted the daughter of a senior executive at the International Swaps and Derivatives Association, Wall Street’s main derivatives lobbying group, provoking concern among some agency employees that the regulator is too cozy with the financial industry.
The UK financial regulator is seeing fewer entrants into the industry as start-ups struggle to break into the market.
A journey into the all-too-near future depicts the disruptions that could shake the UK.
The financial industry is pushing central banks to adopt a distributed ledger technology-based central bank digital currency to support tokenised securities settlement. However, some central bankers are sceptical of the plans and suggest an upgrade to current infrastructure may be sufficient.
The Facebook-led digital currency Libra could be successful even if it first launches outside the United States and Europe, where its development has so far been stonewalled, according to a veteran blockchain attorney.
Bank of England Governor Mark Carney’s plan to end the dollar’s dominance in the global financial system ignores the benefits of having the greenback as a reserve currency, according to former senior Federal Reserve official Simon Potter.
Kik founder and CEO, Ted Livingston, has said that he is ready to keep fighting with the US Securities and Exchange Commission over Kin, the firm’s native cryptocurrency. he SEC believes that the company issued unregistered securities.
The number of banks willing to act as a gateway to allow customers to buy and sell Bitcoin futures on Intercontinental Exchange Inc. may be a key to the success or failure of the new contract.
Clients of thinkFolio will be able to source prices and negotiate interest rate swaps across G10 and emerging market currencies as part of the integration.
The move will affect businesses including credit trading, equities and structured products. The securities business will no longer provide clients outside Japan a service for G-3 rates, except for the yen.
Deutsche Bank is reviving a business it shut down in 2014, even as it pushes on with a company-wide strategic overhaul that’s seen it shed staff and sell off assets. The German lender has resumed trading credit-default swaps for investment-grade European companies.
Investors would be wise to treat the impeachment process as political theater, but they should also focus on the possible policy impacts
Federal Reserve vice chairman Richard Clarida suggested that the central bank is seriously considering the possibility of altering its strategy for achieving price stability.
The euro held at its lowest level in more than two years on Friday as quarter-end rebalancing flows boosted demand for the dollar, with investors unfazed by the latest political news out of the United States.