Barclays Trader Says He Was Thrown to Wolves Amid FX Scandal
Top Headlines
Barclays Trader Says He Was Thrown to Wolves Amid FX Scandal – Bloomberg
Barclays traders working on the “front-line” of the foreign-exchange market were sacrificed to satisfy regulators and save the reputations of senior executives, according to an employee fired amid the scandal. Read More
Foreign Exchange Revenue Boosts Trading Growth in Q2
Top Headlines
Foreign Exchange Revenue Boosts Trading Growth in Q2 – American Banker (subscription)
Bank trading revenue in the second quarter rose by more than 25% from a year earlier to $6.9 billion on rising combined interest rate and foreign exchange revenue, according a report issued by the Officer of the Comptroller of the Currency. Read More
Pound Drops to Lowest Since 1985 as Angst Builds Over Brexit
Top Headlines
Pound Drops to Lowest Since 1985 as Angst Builds Over Brexit – Bloomberg
The pound tumbled to its lowest level in three decades amid mounting concern the UK is heading for a so-called hard Brexit that would restrict access to the European Union’s single market.
Barclays FX ‘Superstar’ Trader Ashton Loses Dismissal Suit
Top Headlines
Barclays FX ‘Superstar’ Trader Ashton Loses Dismissal Suit – Bloomberg
A “superstar” Barclays trader fired amid the foreign-exchange market manipulation scandal lost his unfair dismissal case in London, three weeks after regulators banned him from the US banking industry.
MiFID II Expected to Cost Buy-Side Over $1 Billion
Top Headlines
MiFID II Expected to Cost Buy-Side Over $1 Billion – The Trade
Implementing MiFID II has been forecast to cost the financial industry a total of $2.1 billion in 2017, according to a recent report. Read More
ASIC Bans Rogue Deutsche Bank Trader for Life
Top Headlines
ASIC Bans Rogue Deutsche Bank Trader Andrew Donaldson for Life – Sydney Morning Herald
A former Deutsche Bank currency trader has been permanently banned from the industry after a series of false trades artificially boosted the bank’s revenue by 28 million euros.
Currenex Launches X2 Platform for Institutional Clients
Top Headlines
Currenex Launches X2 Platform for Institutional Clients – Profit & Loss
Currenex has launched a new trading platform, X2, designed in response to the changing liquidity profile of the FX market and the evolving requirements of institutional FX traders. Read More
Forex Markets Hand Debate to Clinton
Top Headlines
Forex Markets Hand Debate to Clinton – Financial Times (subscription)
Movements in the currency markets suggested Hillary Clinton emerged victorious in the US presidential debate over Donald Trump, with notable moves in the Mexican peso, Canadian dollar and Japanese yen.
CBOE Holdings to Buy BATS Global in $3.2 Billion Deal
Top Headlines
CBOE Holdings to Buy BATS Global in $3.2 Billion Deal – Reuters
CBOE Holdings, the operator of the largest options exchange in the United States by volume, said it would buy BATS Global Markets Inc for about $3.2 billion, just over five months after BATS made its market debut. Read More
CBOE in Talks to Buy Smaller Exchange Rival Bats
Top Headlines
CBOE in Talks to Buy Smaller Exchange Rival Bats – Financial Times (subscription)
CBOE, the US exchange best known for the Vix volatility indices, is in talks to purchase smaller rival Bats Global Markets in a deal that underscores consolidation sweeping through the US options industry, people briefed about the negotiation said.