Top Headlines
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.
Platform Data Confirms Decent December – Profit & Loss
Data from various platform providers has reinforced the message that December 2018 was a solid month that ended a good year.
Yen Volumes of 29 Times Normal on January 2 Open: CLS Figures – FX Week (subscription)
Volumes in yen pairs skyrocketed in the early hours of January 2 by a factor of 29 against the dollar, as frantic trading saw the Japanese currency make significant gains against its peers, CLS data reveals.
Bankers Joining Fintechs Find Adrenalin and Bruised Egos – Financial Times
As banks face tougher regulation, fierce competition from start-ups and endless cost cuts,
US Government Shutdown Deprives Markets of Key Data – Financial Times
The Commodity Futures Trading Commission has stopped publishing weekly data on traders’ futures positions in interest rates, currencies, equity indices
Regulatory News
Assets Worth 800 Billion Pounds to Shift from UK to EU Due to Brexit: EY – Reuters
Assets worth nearly 800 billion pounds are being moved from Britain to new financial hubs in the European Union ahead of Brexit, consultancy EY said.
EU Reforms to Tighten Rules on Investment Firms Operating in Bloc – Financial Times
The package of reforms, if agreed with the European Parliament, would set capital standards and closer supervision arrangements for some 6,000 investment companies in Europe that manage securities and derivatives for clients.
It Looks Like Bankers Are Finally Waking Up to Sonia – Bloomberg
UK regulators are seeing some success as they try to shift the sterling bond market away from scandal-hit Libor.
Crypto News
Central Banks Tiptoe into Digital Money – Financial News
But
Winklevosses Stick to Bitcoin Script During ‘Ask Me Anything’ Chat – Bloomberg
Cameron and Tyler Winklevoss still believe in Bitcoin and are working hard to make a cryptocurrency exchange-traded fund a reality, the brothers said during Monday’s Ask Me Anything session on the popular discussion website Reddit.
Virtual Currencies To Go Down as ‘Load of Nonsense,” Says ECB’s Hansson – Bloomberg
Cryptocurrencies will probably die as a “complete load of nonsense,” according to European Central Bank
OTXCN Signs OSL as Crypto Liquidity Provider – Profit & Loss
OTCXN, a blockchain-powered capital markets infrastructure company, announced that OSL, an OTC digital asset brokerage company in Asia-Pacific, has joined its network as a liquidity provider.
Coinfloor Spins Off Physically Delivered Bitcoin Futures Exchange – Waters Technology (subscription)
Coinfloor, a group of cryptocurrency exchanges, has spun-off CoinfloorEx, a physically delivered bitcoin futures exchange, which has now been renamed as CoinFLEX (Coin Futures and Lending Exchange).
Company News
Wall Street Heavyweights Back New Exchange Rival to NYSE, Nasdaq – Financial Times
Some of Wall Street’s largest brokers and banks have given their backing to a new stock exchange that aims to break the dominance of the New York Stock Exchange and Nasdaq by reducing the overall costs of trading. The new trading venue, called Members Exchange or MEMX, will be backed by an array of US financial heavyweights, including Fidelity Investments, TD Ameritrade, Virtu Financial
DTCC to Provide Trade Reporting Services in Switzerland – Asset Servicing Times
The Depository Trust & Clearing Corporation has received regulatory approval from the Swiss Financial Market Supervisory Authority to provide trade reporting services in Switzerland.
LCH Reports Record Clearing Volumes Across Operations for 2018 – The Trade
Clearing across equities, fixed income, and OTC derivatives reached record levels for LCH in 2018.
Technical Preparation for Shanghai-London Connect Completed – Regulation Asia (subscription)
The currency conversion system that delayed the launch of the Shanghai-London Stock Connect last month has now been completed.
Barclays Appoints 100 Bankers in Europe Ahead of Brexit – Financial News (subscription)
Barclays has appointed 100 investment bankers in Europe as part of an aggressive push by the UK banking giant to bolster its position in the EU ahead of Brexit.
Market Savvy
Sterling Hovers Near One-Week High Before Brexit Deal Debate – Reuters
Sterling hovered near a one-week high on Tuesday as Britain’s parliament prepared for a debate on Prime Minister Theresa May’s Brexit withdrawal agreement ahead of next week’s vote.
Euro Weakens on Slowdown Fears; Dollar Advances – Hellenic Shipping News
The euro fell on Tuesday as the euro zone economy showed more signs of slowing, while the dollar gained despite growing bets the U.S.central bank will pause its rate hike cycle.
Global Market Outlook 2019 – The Trade
The global economy posted another solid year of