Deutsche Boerse to Acquire 360T – Profit & Loss (Free Story)
Deutsche Boerse AG has today announced that it will buy Frankfurt-based 360T’s FX trading platform for 725 million euros ($795 million). Jefferies acted as sole financial advisor.
FSB Report Outlines Progress on G20 Derivatives Reforms – Profit & Loss (Free Story)
The Financial Stability Board (FSB) has published a report stating the
implementation of the G20-mandated OTC derivatives market reforms is well underway and that the foundational authority needed to give effect to the full range of these reforms is in place in most FSB member jurisdictions.
Hayes saw his Libor Requests as a ‘Numbers Game’ – Judge – Risk.net (subscription)
Judge Jeremy Cooke said today (July 24) that Tom Hayes thought of his scheme to influence the yen London Interbank Offered Rate (Libor) as a “numbers game” – the more requests he made, the more chances he would have of the reference rate being set in his favour.
Fund Managers Make the Case for Dedicated FX – Euromoney
FX managers see growth in active currency hedging and alpha-generating FX funds in the years ahead.
ICE Delays Singapore Platform Launch to Later This Year – Reuters
Intercontinental Exchange will launch its Singapore platform later in the year, the bourse said on Monday, following delays after China opposed the inclusion of cotton and sugar futures that would use Chinese prices as references.
Disrupted Currencies, Will Greece be the First Country to Formally Adopt an Electronic Currency? – MondoVisione
The Greek crisis is not going away in a hurry. Even if the various parliaments and lawmakers across the Eurozone ratify the latest agreement between the Euro Group and Greece, it will be some time – maybe a few weeks, maybe a month, maybe longer – before Greek banks return to normal and capital controls are completed lifted.
Greek Bailout Talks Pushed Back by a Few Days on Logistics – Reuters
Talks between Greece and its international creditors over a new bailout package will be delayed by a couple of days because of organizational issues, a finance ministry official said on Saturday.
Beijing Widening of Yuan Trading Band Aimed at IMF, Pushes for Market Reforms – South China Morning Post
China’s decision to widen the yuan’s trading band marked Beijing’s latest efforts to push ahead with market reforms to increase its chance of being included in the IMF’s currency basket later this year despite the backdrop of a weakening economy.