Seeking to Beat Your Peers? Set Your Alarm For 3 AM
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FX Trader Seeking to Beat Your Peers? Set Your Alarm For 3 AM – Bloomberg
As currency markets get upended by high frequency firms in search of a nano-second’s edge, it’s an established notion in the industry that timing is everything. Now Deutsche Bank AG has found a low-tech way to put that principle into practice: Get up at three in the morning.
Pound Volatility Intensifies for Sixth Week as Brexit Vote Nears
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Pound Volatility Intensifies for Sixth Week as Brexit Vote Nears – Bloomberg
Trader expectations for price swings in the pound climbed for a sixth week to a fresh seven-year high as anxiety about a potential British exit from the European Union gripped investors.
Soros Said to Return to Hands-On Trading
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Soros Said to Return to Hands-On Trading, Sees Market Shifts – Bloomberg
Billionaire investor George Soros has become more involved in trading at his family office, concerned about the outlook for the global economy and the risk that large market shifts may be at hand, according to a person familiar with the matter.
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Draghi Fires Starting Gun on Corporate Bond Purchases
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Draghi Fires Starting Gun on Corporate Bond Purchases in Europe – Bloomberg
The European Central Bank started buying corporate bonds on Wednesday, according to people familiar with the matter.
Tullett Prebon’s Takeover of Icap Faces Probe
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Tullett Prebon’s Takeover of Icap Faces In-Depth CMA Probe Over Oil Business – Daily Telegraph
Tullett Prebon’s attempted takeover of rival Icap’s voice broking business will face an “in-depth” investigation by the competition watchdog, after it raised concerns over their overlapping oil operations.
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Sterling Volatility Hits New Heights
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Sterling Volatility Hits New Heights after Polls – fastFT (subscription)
Sterling volatility has surged to new heights, breaking levels not seen since the financial crisis as new opinion polls support evidence seen last week that the ‘Leave’ camp is nudging ahead in the Brexit referendum campaign.
- Don’t Be Confused Now, Wait for June 21 Before Deciding on “Brexit” – Profit & Loss
- Pound Tumbles, Volatility Jumps After Polls Show Brexit Momentum – Bloomberg
- MPs ‘Considering Using Majority’ to Keep UK in Single Market – BBC
- AEP: ‘Irritation and Anger’ May Lead to Brexit, Says Influential Psychologist – Daily Telegraph
EBS Cracks China
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EBS Cracks China – Profit & Loss
Icap looks to have secured a deal full of (Far) Eastern promise. The company has extended its association with the China Foreign Exchange Trade System (CFETS) by announcing the latter has chosen its EBS BrokerTec technology for electronic execution services in mainland China.
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The Death of the Boozy Business Lunch
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The Death of the Boozy Business Lunch – The Daily Telegraph
The glory days of boozy business lunches are long gone because of the time restraints and financial pressures placed on British workers, a new report has claimed.
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Sterling Volatility Rockets
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Sterling Volatility Rockets after Poll Shows Brexit ‘Leave’ Lead – fastFT (subscription)
Implied volatility on sterling, a measure of expected stress, has rocketed to the highest level since February 2009 after a referendum poll published yesterday showed an abrupt swing in voter preference towards leaving the EU.
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China Stocks Jump Over 3% on MSCI Speculation
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China Stocks Jump Over 3% on MSCI Speculation – fastFT (subscription)
Chinese stocks carved out their biggest gain in two months amid speculation that A-shares could be included in MSCI’s global benchmarks.