The dollar rebounded from four-week lows against the yen, as global markets regained some of their risk appetite after a sharp sell-off in stocks and the greenback over the past week.
Sterling was only a touch higher as investors largely ignored marginally better-than-expected retail sales data, focusing instead on uncertainty around Brexit negotiations.
The pound should be traded like the currency of an emerging-market country, money managers at the 2018 Reuters Global Investment Summit said, because of uncertainty surrounding Brexit.
The European Central Bank’s supervisory arm has criticised banks’ Brexit relocation plans for leaning too far toward the ‘empty shells’ regulators have cautioned against.
- German Banks Prepare for Hard Brexit, in ‘Advanced’ Stages of Relocating from London – CNBC
- Deutsche Bank Needs Brexit Clarity by Early 2018: Matherat – Bloomberg
JPMorgan has called for a free-trade agreement between the UK and the European Union to cover financial services as a way to ensure mutual access after Brexit.
The New York Department of Financial Services document highlights why we need to keep working to ensure the Global Code reaches every market participant.
The wealth of data and predominance of electronic trading mean TCA in spot FX should be a relatively straightforward process. But what happens when a market is mainly voice traded and data is sporadic?
Proposed new coins include super bitcoin, bitcoin silver.
- Jack Dorsey’s Square Cozies Up to Bitcoin – Wall Street Journal (subscription)
- Wall Street Pioneer Takes Out Ad in WSJ to Warn of Bitcoin Trading Perils – Market Watch
The blockchain hype is real, and it’s become the talk of C-suites around the world.
Swap data reporting will move to a distributed ledger platform in early 2018.
Asian derivatives markets could look very different in 2018, as the attraction of Hong Kong and Singapore as hubs for booking derivatives strengthens amid global regulatory change and Britain’s looming exit from the European Union.
Japan’s Financial Services Agency is considering reducing the maximum leverage allowed for margin FX trading to 10 times from the current 25 times, sources familiar with the matter said.
Isda, Afme, and Gfxd have warned European regulator Esma on the Mifid II SI regime.
The UK’s Financial Conduct Authority (FCA) has issued two warnings to retail investors over binary options and cryptocurrency contracts for difference (CFDs).
Singapore’s central bank is “very keen’’ to facilitate fundraising through “good” initial coin offerings rather than following other Asian regulators and ban such activity.
NEX Group (Nex) says it has signed a Statement of Commitment to adopt the principles of the FX Global Code across its EBS FX trading platforms and NEX Optimisation services.
BNP Paribas and non-bank market making firm GTS, have announced a strategic collaboration, which they say, marks “a new era for banks and electronic market makers”.
LMAX Exchange has unveiled a partnership with an academic at the University of Oxford to develop a methodology for consistent evaluation of trading costs across liquidity pools that can be used by the FX industry.
This is exactly what the bitcoin futures naysayers have been warning about: one of the exchanges which CME Group would use to price the contracts is having serious issues.
The global exchanges and clearing houses operator has appointed a new president and vice chairman, among other roles.
Emerging stocks snapped a five-day losing streak as investors found solace from solid US data in the wake of the recent global equity sell off while currencies advanced despite a slightly stronger dollar.
Bitcoin climbed as much as 10% on Zimbabwe’s Golix exchange after the country’s armed forces seized power.
Central European currencies and equities mostly firmed on relief that the past week’s global stocks sell-off had not continued in Asia overnight, indicating less risk aversion.