The European Central Bank has joined Brussels in a push to promote the euro internationally as it attempts to counter the US-led retreat from globalisation and free markets.
- EU Must Improve Capital Markets to Boost Euro as Global Reserve: ECB – Central Banking (subscription)
Kerim Karakaya and Fercan Yalinkilic are accused of seeking to undermine Turkey’s economic stability for a story, published in August, about the impact of a sharp plunge in the value of Turkish lira on the country’s banking sector. The prosecution was launched at the behest of Turkey’s banking regulation and supervision agency.
Fundamental hedge funds are starting to use algorithms to more clearly see sentiment – their own – by hunting for signals in the e-mail, instant messages and memos of their own analysts.
Twelve large investment banks will collaborate on a technology initiative aimed at cutting the cost of operational mishaps, which can tie up hundreds of millions of dollars in regulatory capital they say could be used to fuel economic growth.
More or less since the Commodity Futures Trading Commission began demanding more and more information from derivatives traders on their precise derivatives trade, the better, it hoped, to prevent new derivatives-based global financial crises, derivatives traders and their representatives have had some concerns about the security of the highly secretive and proprietary information they were providing the CFTC.
The European Securities and Markets Authority (ESMA) has issued today an update of its Q&A on practical questions regarding the European Markets Infrastructure Regulation (EMIR).
Financial terminals will soon provide cryptocurrency data from an index that takes into account social media posts and news.
Questions about market maturity are at the root of the Securities and Exchange Commission’s concerns about cryptocurrency, not the nature of the digital currencies themselves, an SEC commissioner said on Thursday during a fintech conference in New York.
Most cryptocurrencies are poised for fresh gains and investors should buy, according to technical analysis from Fundstrat Global Advisors.
Facebook has hired a senior British bank lobbyist as it braces for greater political and regulatory scrutiny in Europe over its plans to launch its own digital currency and other financial services to its 2.4bn users.
- Facebook’s ‘Stablecoin’ Punt Raises Questions for Regulators – Financial Times (subscription)
- Facebook’s New Cryptocurrency, Libra, Gets Big Backers – The Wall Street Journal (subscription)
The partnership will allow the institutional investors using Caspian’s trading and portfolio management system to more easily access Seed Digital Commodities Market, the digital asset exchange operated by Seed CX.
The Barclay CTA Index was unable to maintain momentum in May, dropping 0.19% and reflecting a negative month for these funds.
Refinitiv has made moves to bolster its Eikon and Elektron platforms with the addition of data on Chinese trade and investment opportunities to meet client demand.
Trading volumes on SGX’s FX futures hit an all-time in May, with $111.5 billion in notional value and over 1.84 million aggregate contracts traded.
Claudia Jury has taken on the role of global head of platform sales at JP Morgan. Her new sales position will run across the securities services, prime finance and clearing and investor client management business segments.
Secure messaging and content sharing platform provider Symphony Communications has raised $165 million in new capital from Standard Chartered, MUFG Innovation Partners and other investors in a recent funding round.
Citigroup is offering its London traders extra time off as large banks continue to look for ways of improving employees’ work-life balance and shedding their high-pressure, long-hours culture.
Mitsubishi UFJ Financial Group (MUFG) has appointed Chris de Sibert as director, EMEA head of FX institutional sales.
The British pound fell again on Friday as investors trimmed their positions after Brexiteer Boris Johnson moved closer to becoming the next prime minister, putting sterling on course for a six-week losing streak versus the euro.
State Street Global Markets likes the dollar. Mizuho Bank says buy Treasuries and go short on South Korea and Taiwan. Deutsche Bank reckons the yuan may weaken. These are some of the investment ideas strategists and money managers are favoring in case US-China negotiations break down and the trade war spills over to next year.
The Australian and the New Zealand dollars fell on Friday as bets on interest rate cuts undermined demand as a Group of 20 meeting later this month kept investors sidelined.