The US Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against JP Morgan for attempted manipulation of the ISDAFix benchmark and requiring the bank to pay a $65 million civil monetary penalty.
The dollar fell against the Japanese yen and Swiss franc after US President Donald Trump’s threats of more tariffs on China heightened fears that an escalating trade dispute could damage global growth.
Buying yen proves a favorite thanks to Japan’s net credit position.
Sterling fell to a fresh 2018 low, as concerns about an escalation in the trade dispute between the world’s two biggest economies weighed on risk sentiment.
The Chinese currency slipped to a five-month low as the dollar strengthened and Chinese equities slumped after the US ratcheted up pressure on Beijing over trade.
Emerging-markets currencies are feeling the heat from the latest wave of nerves about a global trade war that has hit stock markets and boosted the appeal of haven assets.
With what appears to be immaculate timing, hedge fund investors turned cautious in April 2018 and redeemed $1.9 billion in assets from the industry, just in time for it to produce positive returns in both April and May.
A new Bank of England working paper argues that leverage ratio for derivatives had a “disincentivising effect” on client clearing, confirming the views of many industry participants.
New standards may trigger exodus of firms from supporting prices in futures contracts.
Reforms to stop burden of research costs have skewed ecosystem in a different way.
Service could open market to bigger investors, boosting prices.
Cboe and CME are exploring the ethereum cryptocurrency with a $49.6B market value in a number of different ways.
Regulators grant payment company Square a license allowing New Yorkers to trade cryptocurrency on the rapidly growing Cash app.
In the cryptocurrency world, if you haven’t made partner before you turn 20, what are you doing with your life?
- Bancor Launches Blockchain Currencies – Markets Media
- Level 01 Teams with Thomson Reuters, Launching Blockchain-Based Derivatives Exchange – Finance Magnates
Calvin Tse has joined Citi as head of the banks’ North American FX strategy.
Mark Chesterman has joined Stater Global Markets in a newly created COO role.
Bruce Wolf has left his role as head of FX business development at FlexTrade.
South Africa’s rand endured a torrid time in the US session, leaving the currency nursing a two per cent loss on the day as rising trade tensions triggered a resumption of the emerging market sell-off.
Argentina’s peso currency snapped its slide as the central bank said it would hike reserve requirements for banks, a move that also sent bank shares tumbling as the country’s stocks had their worst performance since December 2014.
Safety (the Swiss franc) and economic tedium (a flatter yield curve) are the trades falling out of favour.