Participants “Feel the Pain” of Capital Requirements on FX: Traiana
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Participants “Feel the Pain” of Capital Requirements on FX: Traiana – Global Investor (subscription)
Nex Optimisation, Capitolis partner on FX novation service to help with Brexit and capital requirements.
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Forex Scandal Comes Down to Case Against the ‘Cartel’
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Forex Scandal Comes Down to Case Against the ‘Cartel’ – Financial Times (subscription)
The currencies market goes on trial this week in a process that has whittled down systemic poor behaviour, years of investigations and billions in bank fines to three former London traders. They face a court in New York and a potential sentence of 10 years in jail.
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No-Deal Brexit Has Big Implications for Europe’s Derivatives Market
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No-Deal Brexit Has Big Implications for Europe’s Derivatives Market – Financial Times (subscription)
LCH UK, which operates the London-based derivatives clearing house for interest rate swaps, has let its EU members know that they could be given just three months to move £38tn in notional value of swaps contracts to other venues.
- EU Clients Face Axe from UK CCPs – net (subscription)
- European Banks Need London Clearing for Brexit Risks, ESMA Says – Bloomberg
- EU Regulator Calls for Access to UK Deal Insurers in Event of Hard Brexit – City A.M.
- FIA Welcomes Maijoor’s Comments on Post-Brexit Access – Global Investor (subscription)
Q&A: CFTC’s Giancarlo on the Race to Overhaul Cross-Border Rules
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Q&A: CFTC’s Giancarlo on the Race to Overhaul Cross-Border Rules – Risk.net
When Christopher Giancarlo announced plans in early September to overhaul how the US Commodity Futures Trading Commission will treat foreign clearing houses, he literally moved markets. But now he says his far-reaching proposals in this area might not be completed during his time as chairman.
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CME FX Volume Surges in September, NEX Also Higher
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CME FX Volume Surges in September, NEX Also Higher – Profit & Loss
CME Group has reported the second busiest month for its FX contracts since September 2014. The exchange group reports that it handled 1.132 million contracts on a daily basis in September, a 28.2% increase on August.
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Refinitiv Aims to Spend to Take on Bloomberg
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Refinitiv Aims to Spend to Take on Bloomberg – Financial Times (subscription)
“FX is our crown jewel asset class. . . it’s an amazing business. Why would you want to lose that when it is core to your platform?”
US Regulator to Unveil Plans to Rein in Swaps Trading Rules
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US Regulator to Unveil Plans to Rein in Swaps Trading Rules – Financial Times (subscription)
The leading regulator of the US derivatives market will today unveil plans to reform swaps regulations in a move he hopes will ease a stand-off with fellow regulators in Europe.
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Dollar Dominance Prevails Despite Global Efforts
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Dollar Dominance Prevails Despite Global Efforts – Financial Times (subscription)
As recent crises in Turkey and Argentina have shown, a rising greenback – and higher US interest rates – puts emerging market borrowers in a vice, making it crucial to know whether the Fed is seeking a stronger dollar.
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Banks May Need to Cull Their Trading Desks Further
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Banks May Need to Cull Their Trading Desks Further – The New York Times
Bankers should watch their backs. There are fewer of them trading fixed income, currencies and commodities than there were four years ago. But cost-cutting is failing to keep pace with the declines in the revenue that banks make from this business, and that spells a new wave of job cuts on dealing floors.
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Blackstone Weighs Sale of Thomson Reuters’s FXall Unit
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Blackstone Weighs Sale of Thomson Reuters’s FXall Unit – Bloomberg
Blackstone Group, the soon-to-be owner of Thomson Reuters’ financial-and-risk arm, is weighing a sale of FXall, according to people familiar with the matter. The business could fetch more than $3 billion, said one of the people.
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