Top Headlines

China Stocks Enter Bear Market as State-Fueled Rally Evaporates – Bloomberg Chinese stocks fell into a bear market for the second time in seven months, wiping out gains from an unprecedented state rescue campaign as investors lose confidence in government efforts to manage the country’s markets and economy.

FTT Slips Off EU Agenda – E Financial News The financial transaction tax is notable by its absence from the topics due for political agreement under the leadership of the new Dutch six-month presidency of the European Council.

Riksbank Seen Cutting Rates as Swedish Inflation Disappoints – Bloomberg Scandinavia’s biggest bank expects Sweden to cut rates next month after December inflation came in below its forecast.

Banks Face More Unfair Dismissal Cases in London – Profit & Loss Barclays is the latest bank to face an unfair dismissal case brought by a former FX trader – the case will be heard just days after the second case brought by a dismissed Citi FX trader.

Sacked Traders Sue ANZ for Unfair Dismissal – Australian Financial Review (subscription) Two traders are suing ANZ Bank for unfair dismissal, claiming managers in the Global Markets division condoned bad behaviour on the trading floor.

Citi and Allied Irish Settle Rusnak Claims – Profit & Loss The long running saga resulting from the activities of rogue FX trader John Rusnak that were uncovered in 2002 appears to have come to an end with news Citigroup has settled a litigation case with Allied Irish Banks.

Asset Managers and FX Best Execution – TABBForum There was a time when best execution to some on the buy side merely meant calling three or four banks on the telephone, asking each for the same price and hitting the best bid or offer.



Regulatory News

Liquidity “Not an Exact Science” Regulators Warned – The Trade Liquidity cannot be measured in the exacting ways regulators are seeking to impose, the US Securities and Exchange Commission (SEC) has been warned by an asset management group.

Banks Face Stiffer Capital Rules in Basel Market-Risk Revamp – Bloomberg Banks face tougher capital requirements on swaps, bonds and other securities that they intend to trade, as global regulators tighten market-risk rules for the second time since the financial crisis.



Company News

Goldman Reaches $5 Billion Settlement Over Mortgage-Backed Securities – Wall Street Journal (subscription) Pact marks largest settlement in history of Wall Street firm.

JP Morgan Declares 11% Fall in Fixed Income Revenue – The Trade JP Morgan has confirmed fixed income revenues fell 11% in 2015, from $14.1 billion in 2014 to $12.6 billion last year.

Frank Troise to Begin ITG Rescue Job – E Financial News When Frank Troise walked off JP Morgan’s trading floor for the final time in October 2015, he received a standing ovation. There were even some tears, according to people who were there.

Nasdaq Launches New Investor Relations Platform – E Financial News Nasdaq has launched a new investor relations platform, as businesses increase their focus on developing products and services to make it easier for companies to engage with their investors.

Morgan Stanley Shakes Up Fixed-Income Division – Wall Street Journal (subscription) Division co-heads replaced by stock-trading head.



Market Savvy  

Falling Inflation Expectations Could Mean Policy Rethink: Fed’s Bullard – Reuters The continued rout on global oil markets has caused a “worrisome” drop in U.S. inflation expectations that may make further rate hikes hard to justify, St. Louis Federal Reserve President James Bullard said on Thursday.

China Wants a Reserve Currency and Control, But Can’t Have Both – Bloomberg This week’s unprecedented surge in the cost of borrowing yuan in Hong Kong is putting a spotlight on one of China’s biggest policy dilemmas: whether to create a real international reserve currency, or to keep control of its value.


Peru Central Bank Hikes Key Rate for Second Straight Month – Reuters Peru’s central bank raised its benchmark interest rate to 4 percent on Thursday as expected, its second hike in a row as it battles to keep inflation expectations from rising further.



Press Releases

FastMatch Set to Reduce Fees – Profit & Loss Effective March 1, 2016, FastMatch is introducing fee reductions in an attempt to grab market share.



Industry Events