Top Headlines

China to Extend Onshore FX Trading to Overlap with London – Reuters China’s foreign exchange market will soon extend trading hours for the yuan to 11.30 p.m. (1530 GMT) to overlap with European trading hours, according to three sources with direct knowledge of the matter.

UK Eases Senior Manager Regime – Profit & Loss The UK Treasury has moved to allay concerns in the country’s financial sector that the impending Senior Managers and Certification Regime will lead to an exodus of financial markets talent to other regions.

UK Banks May Need $5.1 Billion of Capital for Ring-fencing – Bloomberg The UK’s largest banks may face higher capital requirements under Bank of England rules on the separation of retail operations from riskier investment banking.

New Agreement Strengthens Singapore’s Push to be RMB Centre – Profit & Loss Singapore and China have agreed on new initiatives to further promote the international use of the renminbi (RMB) through Singapore.

Fed Doubts Grow on 2015 Rate Hike – Wall Street Journal (subscription) Weakness in retail sales, inflation data raises concerns about economic outlook.

ECB’s Nowotny Says Euro-Area Core Inflation `Clearly’ Below Goal – Bloomberg European Central Bank Governing Council member Ewald Nowotny said both headline and core inflation in the 19-nation euro area are “clearly” undershooting the institution’s goal.

BlackRock’s Fink: Rising Dollar Could Bring ‘Extreme Problems’ – Financial News (subscription) The head of giant money manager BlackRock warned on Wednesday that a deeper slump in commodity prices and an even stronger dollar pose the greatest threats to global markets.

Applying the Brakes is the New Way to Try to Beat the Market – (subscription) High-frequency trading (HFT) attracted public attention with the flash crash of May 2010. The story of the market dropping 400 points in minutes and rebounding because of superfast technology opened a window into a world that only traders, executives and boffins previously knew about.



Regulatory News

CFTC Extends No-Action Relief for Packaged Swaps Transactions  – Profit & Loss The Commodity Futures Trading Commission’s (CFTC) has announced another no-action relief extension, meaning that certain swaps executed as part of a package transaction will still not have to trade on Swap Execution Facilities

India’s Central Bank RBI Seeks Details on Flipkart’s FX Mart Deal – Deal Street Asia The Reserve Bank of India (RBI) has sought more details of Flipkart’s acquisition of FX Mart Pvt. Ltd which holds a prepaid wallet licence, delaying the proposed launch of a digital wallet by India’s largest e-commerce firm, three people familiar with the matter said.

What Mifid II Means for Trading – Financial News (subscription) Mifid II will usher in sweeping reforms to trading practices across Europe when it takes effect in 2017, ranging from limits on dark pool trading, transparency rules across asset classes and tougher oversight of high-frequency traders.



Company News

Exness Taps SunGard for FX Reconciliations Amidst Growing Regulation – Finance Magnates Exness has opted to integrate SunGard’s IntelliMatch Operational Control solution to help meet a growing cascade of reconciliation and compliance requirements being imposed on foreign exchange (FX) brokers.

JP Morgan is Getting Smaller – Financial News (subscription) JP Morgan Chase reported third-quarter results that disappointed some investors as revenue fell 7%. But some of the bank’s shrinkage was by design, an effort to become simpler and less sprawling as new capital regulations are set to roll out in coming years.



Market Savvy  

Riksbank “Slowly Losing the SEK Battle” – Profit & Loss Confidence in the Swedish krona is rising, according to the latest SEB survey of 150 Swedish corporates, financial instructions and foreign macro hedge funds

Singapore Dollar Near 1-Month High After Easing, GDP; Asia FX Up – Reuters The Singapore dollar hit a near one-month high on Wednesday as the central bank easing was seen disappointing to some investors and the city-state’s economy barely avoided a recession in the third quarter.

Nigeria FX Rules Backed by Candidate That May Be Finance Chief – Bloomberg Kemi Adeosun, tipped by analysts to be the next Nigerian finance minister, said a currency devaluation on its own won’t solve the nation’s economic problems and she supports the central bank’s foreign-exchange restrictions.



Press Releases

LCH.Clearnet Compress $1.9 trillion Forward Rate Agreements – Profit & Loss LCH.Clearnet says its first blended-rate compression run for Forward Rate Agreements (FRAs) saw $1.9 trillion eliminated.



Industry Events