Regulators Give Fresh Sign They’ll Go Easy on MiFID Rules
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Regulators Give Fresh Sign They’ll Go Easy on MiFID Rules – Bloomberg
Regulators will grant financial firms a six-month delay in implementing part of the sweeping MiFID II overhaul of rules that’s set to take effect on January 3, as both companies and countries struggle to meet the deadline.
GFXC Unveils Principle 17 Re-Write
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GFXC Unveils Principle 17 Re-Write – Profit & Loss
The Global Foreign Exchange Committee (GFXC) has published an updated FX Global Code incorporating revised guidance on trading in the last look window, known as Principle 17.
Dollar Lower as Investors Eye Tax Changes and Fed Moves
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Dollar Lower as Investors Eye Tax Changes and Fed Moves – Wall Street Journal (subscription)
The dollar fell, weighed down by worries that the Federal Reserve may not raise interest rates at a faster pace next year despite solid US growth. Read More
Duelling Bitcoin Futures Go Head-to-Head as CME Launches Contract
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Duelling Bitcoin Futures Go Head-to-Head as CME Launches Contract – Financial Times (subscription)
The bitcoin futures race began in earnest as exchange operator CME Group challenged another Chicago exchange that had launched the first digital currency futures a week before.
Wall Street Watchdog Becomes Forum to Cut Rules Under Trump
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Wall Street Watchdog Becomes Forum to Cut Rules Under Trump – Bloomberg
In its annual report, the Financial Stability Oversight Council for the first time advised agencies to address outdated and overlapping rules that could subject the industry to “increased compliance costs and regulatory burdens.”
Sterling Edges Higher Ahead of Bank of England Decision
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Sterling Edges Higher Ahead of Bank of England Decision – Reuters
Sterling edged higher as traders awaited a Bank of England meeting that will be watched for signs of whether recent progress in Brexit talks and higher UK inflation could speed up the pace of future interest rate hikes. Read More
Dollar Bounce Stalls as Alabama Outcome Adds Uncertainty
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Dollar Bounce Stalls as Alabama Outcome Adds Uncertainty – Reuters
A two-week rally in the dollar stalled after a Democrat won a bitter fight for a US Senate seat in deeply conservative Alabama, injecting fresh uncertainty about the outlook for the greenback in the coming months.
Sterling Climbs as UK Inflation Hits Six-Year High
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Sterling Climbs as UK Inflation Hits Six-Year High – Reuters
Sterling climbed and British bond futures dipped, after data showed UK inflation unexpectedly hit its highest level in nearly six years in November, putting pressure on the Bank of England to raise interest rates again next year. Read More
Bitcoin Futures Launch But The Song Remains the Same
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Bitcoin Futures Launch But The Song Remains the Same – Profit & Loss
CBOE officially launched trading on bitcoin futures on Monday morning in Asia and while the event was much anticipated, price action has generally conformed to that of the past year with the price of the cryptocurrency rising steadily.
New Basel Rules on Capital Hit European Banks
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New Basel Rules on Capital Hit European Banks – Financial Times (subscription)
Top international central bankers and regulators have struck a long-awaited deal on bank capital rules that Mario Draghi hailed as the final step of post-financial crisis reforms and which resolves a transatlantic rift on the treatment of the industry.