Morgan Shuffles Investment Bank Roles, Elevates Troy Rohrbaugh – Bloomberg
JP Morgan is
shuffling roles within its corporate and investment bank in a shift that
streamlines the company’s trading and treasury operations. In the biggest
change, the bank elevated Troy Rohrbaugh to head of global markets, where he’ll
oversee all of fixed income and equity trading.
Bad It’s Good: Markets See Silver Lining in Brexit Rejection – Bloomberg
Prime Minister Theresa May’s record defeat in Parliament
over her Brexit divorce deal provoked a curious response from markets:
Welcomes Fifth Third Bank as Associate Member – FXPA
The Foreign Exchange Professionals Association (FXPA) is
pleased to announce the addition of Fifth Third Bank as the newest Associate
level member of the FX trade group.
Spells Trouble for Europe’s €660tn Derivatives Market – Financial Times
As investors wait for the UK’s vote on the Brexit
withdrawal agreement, banks and brokers have already accepted that, from March
29, Europe will be split into two distinct capital markets.
Crunch Brexit Vote Spark Sterling Rally or Sell-Off? – Financial Times
How will sterling fare in (yet another) big week for
Brexit? As always with Brexit and the pound, the sensible answer here is
“nobody knows”. But some lively moves in the pound on Friday provided some
to Look for Triggers for Next Currency Flash Crash – Bloomberg
If once is an accident and twice a coincidence, traders
looking for a third currency flash crash are surely poring over Japan’s holiday
calendar by now, bracing for enemy action. Last week’s yen-driven crash
that sent the Turkish lira into a tailspin and a sudden plunge in the South
African rand in January 2016 had three things in common.
New York Fed Publishes Policy on Confidential Market Information – Profit & Loss
The Federal Reserve Bank of New York has taken the step of publishing a statement detailing how it handles confidential information from foreign exchange and Treasury market participants.
Volatility: How ‘Algos’ Changed the Rhythm of the Market – Financial Times (subscription)
Philippe Jabre was the quintessential swashbuckling trader, slicing his way through markets first at GLG Partners and then an eponymous hedge fund he founded in 2007 — at the time one of the industry’s biggest-ever launches. But in December he fell on his sword, closing Jabre Capital after racking up huge losses. The fault, he said, was machines.
Cboe Announces Management Changes in Wake of Concannon Departure – Profit & Loss
Cboe Global Markets has announced a raft of senior management changes following the news that Chris Concannon is set to leave the firm, where he currently holds the position of president and COO.
TCA is Dead…Long Live TCA – Profit & Loss
Transaction cost analysis (TCA) as we know it has already begun to go bad. Its origins in FX were really to allow asset managers to show their clients that their FX executions were in the right ballpark, but the new breed of buy-side FX traders (many of whom have moved from the sell-side) are looking for much deeper insights.