The top US derivatives market regulator has revealed plans to soften some of its rules for regulating swaps, saying the Obama-era standards had sometimes over-reached their jurisdiction and were increasingly out of step with the rest of the world.
- Top US Regulator Calls for ‘Reset’ in Relations with Other Countries – Reuters
- US Swaps Cop Apologizes for International Rules Overreach – Bloomberg
- Remarks of Chairman J. Christopher Giancarlo to the City Guildhall, London – CFTC
By many conventional measures, the dollar is increasingly overvalued. Yet what investors should do with that information is becoming less clear.
The first group of trading venues to report FX ADV for August indicate a mixed picture, although overall activity seems to be higher.
Angela Merkel has given her tacit support to Frankfurt’s bid to replace London as Europe’s main clearing house for euro-denominated derivatives after Brexit, but hinted she was unlikely to intervene personally on the issue.
Bank of England Gov. Mark Carney signaled Tuesday that he is willing to stay on as head of the UK central bank beyond his planned departure date next year, offering a measure of stability in British policy-making as the country prepares to leave the European Union.
Even if the UK loses a quarter of its international financial sector as a result of Brexit, it will still be double the size of any other European business centre, according to new research.
A recent setback raised questions about whether prosecutors can pursue “spoofing” cases. So late in July, the Justice Department took a new tack.
US regulators said on Tuesday they will be giving the public an extra 30 days to comment on a proposed rewrite of the “Volcker Rule” banning proprietary trading by banks.
Bank of Japan Governor Haruhiko Kuroda has warned that the growing presence of high-frequency trading could exasperate price moves and hurt financial market stability.
A favourite comparison drawn by cryptocurrency and blockchain enthusiasts is with the early world wide web. These technologies are only a decade old, they say. Trying to predict how they might change the world in the future is next to impossible.
Fundraising with cryptocurrencies is booming, but is that a good thing?
Cryptocurrency bulls have been hopeful that the US securities regulator will grant the first bitcoin exchange-traded fund (ETF) this year – but they’ve been left disappointed by a series of rejections and postponements.
Bitcoin prices have been rising lately, hitting their highest in roughly one month earlier today.
With fewer than 100 residents, Ocean Falls is looking for a revival after almost four decades of industrial false starts.
As Cobalt prepares to go live, co-founders Andy Coyne and Adrian Patten reflect on the difficulty for banks to innovate like they used to, why blockchain technology in its traditional format is ill-suited to processing FX transactions and why shared infrastructure is – finally – a reality.
Citi has launched the 6th edition of its annual e for Education campaign, a global corporate social responsibility initiative that has raised over $22.5 million for education-focused non-profits since 2013.
Indian stock exchange BSE has extended the time period for not levying any transaction fee on the trades done in cross currency derivatives for one year till August 2019, to encourage active participation in the contracts.
The Post-Trade Distributed Ledger Group is set to merge with the Global Blockchain Business Council.
Sterling bounced off a two-week low on Wednesday after a stronger than expected services PMI report but the British currency remained set for a fifth day of losses as broader concerns over Brexit negotiations hurt investor demand.
The dollar rose broadly on Wednesday as concerns grew that US President Donald Trump may soon ramp up a trade war with Beijing by imposing tariffs on more Chinese imports.
The rout in emerging markets showed no sign of letting up, with most currencies weakening and an index of stocks nearing a bear market. South Africa’s rand led the sell-off, falling to the lowest level in more than two years, followed by Mexico’s peso.
- Emerging Market Currencies Hit By Another Day of Turbulence – Financial Times (subscription)
- EM Slide Spreads Across Developing World – Financial Times (subscription)
- Rand Slumps as South Africa Enters Recession – Reuters
The economy is a fickle beast. Exactly a year ago, the rupee, having experienced a prolonged appreciating spree, had reached as high as 63.5 to a dollar. The trend of the rupee has entirely flipped this year.
Over the next decade, investors will need to get used to the withdrawal of easy money.