A trio of former British currency traders pushed a US judge to throw out charges they conspired to fix the foreign-exchange market, arguing that they can’t be guilty of violating US antitrust laws because the banks for which they worked weren’t always in direct competition.
The euro rose to a new five-week high with receding fears of a global trade war hurting the dollar and encouraging investors to resume their bets on a stronger single currency.
Sterling fell half a percent against the Swiss franc, its biggest drop in seven weeks on expectations of selling pressure from a large corporate acquisition.
For the first time in a decade, the world’s central banks are looking beyond the dollar to build their currency reserves.
Financial service professionals are increasingly confident in the world’s leading financial centers, with a bias toward stronger and more established cities, finds the Global Financial Centres index.
Cboe Global Markets president Chris Concannon addressed the SEC’s concerns about a bitcoin exchange-traded fund in a letter dated March 23.
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The EU financial watchdog has warned that firms will need to have clear documentation of pricing structures for fixed income, currencies and commodities (FICC) research under MiFID II.
Wall Street should force banks to share the pain of regulatory penalties by docking executives’ pay, a move that would help discourage bad behavior, Federal Reserve Bank of New York President William Dudley said.
US Sen. Elizabeth Warren (D., Mass.) said that John Williams should testify before the Senate Banking Committee before being approved as the next president of the Federal Reserve Bank of New York.
Markets watchdog firms up restrictions on risk that retail investors can take
Europe’s markets watchdog has firmed up tough new rules to restrict online trading platforms that offer risky speculative products to retail investors.
The drop in notional amounts was mainly due to decreases in interest rate and foreign exchange derivatives.
State Street has appointed Laura Lifland as managing director, FX sales, based in San Francisco.
One of CFH Clearing’s founders, Remonda Kirketerp-Møller, has been appointed as non-executive director of the London-headquartered prime-of-prime firm.
The Chinese currency rose to a seven-week high against the dollar and analysts see the renminbi’s appreciation as a sign that China will smooth trade tensions with the US.
South Asian nation devalued currency twice in four months.