Keeps Interest Rates Unchanged; Signals No More Increases Likely This Year – The Wall Street Journal (subscription)
Federal Reserve officials indicated Wednesday they are
unlikely to raise interest rates this year and may be nearly finished with the
series of increases they began more than three years ago now that US economic
growth is slowing.
Submits Comments to CFTC on SEF Reforms – FXPA
FXPA’s letter is focused on the need for the CFTC to
exempt NDFs and exchange-traded or cleared swaps from de minimis threshold
calculations as part of any SEF reform.
Announces New Officers, Board Members – FXPA
The Foreign Exchange Professionals Association (FXPA) has
voted in a slate of new Board and Officers members at its annual meeting.
Attacks EU Plans for Boosting Supervision of Clearing Houses – Financial Times
European Central Bank officials have strongly criticised
EU plans for boosting supervision of clearing houses, saying they leave it
without crucial powers to fend off crises in the €660tn market for
euro-denominated derivatives and violate its independence.
a Silver Bullet’ – City Reacts as MPs Vote to Delay Brexit – Financial News
The latest vote means that, pending approval from the
other 27 EU member states, the UK will not leave the trading bloc on March 29
if no withdrawal terms have been agreed with Brussels.
Are the Potential Buyers of Refinitiv? – Profit
In October 2018 a consortium, led by the private equity
firm Blackstone, concluded a deal to acquire 55% of the equity in Thomson Reuters
Financial & Risk business, now rebranded as Refinitiv. No one in the market
is under the illusion that Blackstone intends to maintain its ownership of
Refinitiv, least of all the staff who work there.
Waste of Two Years’ – City Reacts to Crushing Defeat of May’s Brexit Deal – Financial News
Reaction from UK finance as Theresa May fails to get her Brexit deal across the line at the second attempt.
FIA Warns of Increased Market Fragmentation Caused By Regulation – FIA
FIA President and CEO Walt Lukken has released a white
paper that expresses FIA’s concerns about increased fragmentation of the
global listed and cleared derivatives markets due to inconsistent and
duplicative regulatory frameworks.
the Johnson Appeal Raising the Stakes for the FX Market? – Profit & Loss
Written testimony has been lodged relating to former HSBC FX trading head Mark Johnson’s appeal against his conviction for wire fraud in the US and it contains a few surprises – some of which may indicate stronger implications for the FX industry than the original trial.
Joins UBS in Setting Up Singapore Currency Trading Hub – Bloomberg
Citigroup is planning to join UBS with an electronic
currency trading and pricing platform in Singapore, setting up systems to boost
liquidity in Asia’s biggest foreign exchange hub.
Conquered Stock Markets. Now They’re Coming for Bonds and Currencies – Bloomberg
A new breed is taking over to accelerate
electronic-trading efforts. BofA, Morgan Stanley and UBS are among firms
enlisting their help.