The dollar’s early bounce fizzled, as markets saw few concrete measures emerging from the US-North Korea summit and waited for guidance from two of the world’s top central banks later this week.
The British pound edged higher as markets shrugged off weaker-than-expected wage growth data and shifted their focus to the start of a crucial parliamentary debate on amendments to Britain’s EU withdrawal bill.
UK fund managers should prepare for costly changes to their business models after Brexit, according to an influential European politician who has warned financial services firms are “far too complacent” about the risks of leaving the bloc.
More than $13.3T in notional volume went through SEFs in May, towering over credit and FX, which each see less than 10% of that activity.
Working group hears end of Euribor by 2020 would threaten financial stability.
Rule changes will be around the edges, Jay Clayton says, singling out clearinghouses as one area of concern.
The law requires bipartisan representation on the five-member commission.
In a letter to CEOs, the FCA offered guidance on three broad areas.
Binance, one of the world’s largest cryptocurrency exchanges by traded value, will soon allow customers to convert digital tokens into fiat currencies such as the euro, according to CEO Zhao Changpeng.
Digital Asset Group formed a partnership with GMEX Group, which provides multi-asset exchange trading and post-trade business technology, as it aims to become the world’s first fully regulated business-to-business crypto and blockchain bank.
The bitcoin price dropped by about a tenth over the weekend, the sort of wild crash to bring a tear of nostalgia to those who lived through the chaotic days of January.
Saxo Bank has hired Eric Krueger to the new position of global head of client services, effective from 2 July. He will report directly to Damian Bunce, CCO.
Exchanges are expected to focus on domestic mergers, index products, FI and FX, an analyst said.
The currencies of Turkey, Brazil, Mexico, Russia and South Africa are seeing the world’s biggest increases in their implied volatility gauges this quarter, amid the worst period for developing-nation currencies since China’s shock devaluation in the third quarter of 2015.
South Africa’s President Cyril Ramaphosa marked his first 100 days in office this month, and it seems the honeymoon period is over for the country’s currency too.