Top Headlines

Dollar Advances on Yellen Signals, Stronger US Data – Wall Street Journal (subscription) The dollar strengthened to more than a three-month high against the euro Wednesday after fresh signals by the Federal Reserve and upbeat US numbers.

Is Europe’s Economy So Bad the ECB Will Run Out of Things to Buy? – Bloomberg With ECB hinting at further easing by the central bank next month, markets are busy trying to work out whether the next move will be to lower deposit rates even further into negative territory or ramp up asset purchases. Or perhaps both.

Deutsche Bank Fined $258m for Violating US Sanctions – The Guardian German banking giant Deutsche Bank will pay $258m in fines for doing business with US-sanctioned countries like Iran and Syria, US regulators said Wednesday.

Bitcoin is Still Going on a Gigantic Tear – Bloomberg Bitcoin is on a roll. Earlier this week we pointed out that the virtual currency was on a massive winning streak. It’s up nearly 40 percent in the last three days.

Wall Street Block Chain Alliance Announces Working Committee Heads – Profit & Loss The Wall Street Blockchain Alliance (WSBA) has announced chairman of its various new working committees.



Regulatory News

CFTC Head Issues Warning to Spoofers After US Verdict – Reuters The top US commodities regulator warned traders on Wednesday that he will aggressively pursue cases of market manipulation, a day after federal prosecutors won a landmark victory over the banned practice known as “spoofing.”

DTCC Exec Warns About Higher Interconnectedness – Risk.Net (subscription) The financial system has become increasingly interconnected because of the regulatory response to the financial crisis, says Michael Leibrock, chief systemic risk officer at Depository Trust & Clearing Corp.

FSB: Work Still Needed on OTC Derivatives Reforms – Profit & Loss The Financial Stability Board (FSB) has released two new reports, which document that, although good progress has been made in reforming the OTC derivatives markets, there are still areas where improvements are needed.

Massad Outlines New Swaps Reporting Rules – Profit & Loss Commodity Futures Trading Commission (CFTC) chairman, Timothy Massad, has revealed that the CFTC is planning to implement a series of new rules concerning swaps trade reporting.

FRTB: Are you Ready? – TABBForum The Fundamental Review of the Trading Book (FRTB) is the biggest and most significant market risk regulatory change since the introduction of Value at Risk almost two decades ago. 



Company News

Convergex Hires Jason Emerson for New Strategic Planning Role – Reuters Agency focused brokerage Convergex said on Wednesday it hired Jason Emerson for the position of managing director and head of operations and strategic planning.

ING Quarterly Profit Rises on Lower Loan-Loss Provisions – Bloomberg ING Groep NV, the biggest Dutch lender, reported a 14 percent rise in third-quarter profit as margins improved and the bank reduced provisions for bad loans.



Market Savvy  

China Enters Bull Market – Wall Street Journal (subscription) China shares’ two-day spurt adds to market’s slow, steady climb since August.

South Korea Oct FX Reserves Inch up to 3-Month High – Business Recorder South Korea’s foreign exchange reserves in October inched up to their highest level in three months thanks mainly to investment gains, central bank data showed on Wednesday.

Bank Losses from Polish FX Loans Conversion to be Spread Over Years – Reuters  All proposals considered by Poland’s president to allow borrowers to convert their Swiss franc mortgages into zlotys at more favourable rates would spread out the cost for banks over several years, people involved in talks said.



Press Releases

ICE Reports October 2015 Volumes – ICE Intercontinental Exchange (NYSE: ICE), a global network of exchanges and clearing houses, has reported its volumes for the month ending October 2015.

Virtu Announces Third Quarter 2015 Results – Virtu Virtu Financial, Inc. reported results for the third quarter ended September 30, 2015.



Industry Events


FIA Expo 2015, 3-5 November, in Chicago, IL

Profit & Loss Shanghai, 12 November in Shanghai, China

Profit & Loss Singapore, 19 November in Singapore

11th Annual FIA Asia Derivatives Conference, 8-10 December in Singapore