Top Headlines

China Changes Its Currency-Market Ways – Wall Street Journal (subscription) Beijing’s typically ham-handed approach to yuan interventions may be giving way to subtler techniques.

FX Industry Divided on Randomization – Euromoney Randomization continues to divide opinion, with proponents’ claims of reduced latency arbitrage set against concerns over reduced certainty of execution and wider spreads.

Mind the Gap as Currency Markets Shrivel for All But Biggest Few – Bloomberg Even the world’s biggest financial market can’t escape the global liquidity drought. Currency traders accustomed to shifting billions of dollars around the globe are starting to suffer as dealers retrench.

Banks Expected to Adopt New Technologies Rather Than be Overrun – Reuters New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them.

Ex-Tullett Broker Said He Lied to Hayes About Libor to Save Job – Bloomberg A former Tullett Prebon Plc broker accused of helping Tom Hayes rig Libor said he told the former UBS trader he’d help him manipulate the rate to get him off his back, but never actually followed through with it.



Regulatory News

UK Needs ‘Urgent Action’ to Keep Banks in London, BBA Says – Bloomberg British lawmakers need to take “urgent action” to ensure the U.K. maintains its position as the leading global financial center or risk the departure of banks to cities such as Singapore and Hong Kong.



Company News

Goldman Sachs Women Gain Ground in New Managing Director Class – Bloomberg Goldman Sachs Group Inc. promoted 425 people, including a record proportion of women, to managing director, the Wall Street firm’s second-highest rank.

Deutsche Bank Reshuffles Top Ranks of Investment Bank – Wall Street Journal (subscription) Alasdair Warren appointed head of corporate and investment banking for EMEA.

RBS to Deepen Job Cuts at Investment Bank to Save $3 Billion – Bloomberg Royal Bank of Scotland Group Plc plans to deepen job cuts at its investment bank to help save about 2 billion-pounds ($3 billion) as part of Chief Executive Officer Ross McEwan’s plans to shrink the loss-making unit.



Market Savvy  

Bitcoin Can’t Keep It Chill – Bloomberg This was looking like the year that bitcoin would finally move beyond its sketchy reputation as an anonymous way to buy drugs and stolen credit cards.

Global Stocks Fall After Commodity Price Rout – Wall Street Journal (subscription) Thursday’s steep drop in commodities prices created a ripple effect Friday morning.

Asia FX Views Bearish on U.S. Rate Bets; Yuan Outlook Deteriorates – Reuters Sentiment toward emerging Asian currencies deteriorated in the last two weeks on growing views of a U.S. rate rise in December with bearish bets on the Chinese yuan and the Indian rupee hitting their largest in two months, a Reuters poll showed.

What to Watch For at The G-20 Summit – Bloomberg The Turkish coastal resort of Antalya plays host to the Group of 20 summit from Sunday, and puts world leaders next door to one of the biggest crises on their plate.



Press Releases

R5FX Adds INR – Profit & Loss Emerging markets platform provider R5FX has added the Indian rupee to its roster of currencies.



Industry Events