The US’s top derivatives regulator is ratcheting up pressure on the European Union to scrap its plan to tighten oversight of foreign clearinghouses, telling senior officials from the bloc that the proposal could damage financial markets and stunt economic growth.
- Remarks by Chairman J. Christopher Giancarlo at the Eurofi Financial Forum, Vienna, Austria – CFTC
- UK, US Urge EU Not to Lock out Foreign Banks – Reuters
- Brexit to Impact Access, Capital and Reporting: FIA – FOW (subscription)
The World Federation of Exchanges has called on regulators to allow initial margin to have an offsetting effect on banks’ leverage ratios, in order to urgently remedy the growing market concentration of clearing members.
- WFE Calls for Removal of Detrimental Factors to Clearing – FOW (subscription)
- The World Federation Of Exchanges Calls For Global Reform of Leverage Ratio – Exchange News Direct
Many emerging market currencies, which have had a torrid few months, will bounce back at least partially against the dollar in a year as weakening growth momentum takes the shine off the greenback, a Reuters poll found.
Behemoths that provide critical services to the financial industry are balking at sharing their information with banks trying to conduct third-party risk assessments. The recalcitrant include big data providers, exchanges and clearing houses.
Too many City firms are failing to file properly checked and audited reports to regulators on the client money they hold, the chair of the Financial Conduct Authority has warned.
Data on the use of derivatives by investment funds is still limited at EU level, Esma says.
We learnt the dangers posed by ‘too big to fail’ banks, but now they are even bigger.
The European Union should adopt common rules on cryptocurrencies and scrutinize how new digital units are distributed to investors and subsequently traded, according to a report prepared for EU finance ministers.
While the world’s largest cryptocurrency is down 65 percent since its peak in December, technical indicators suggest there’s worse to come.
Coinbase, the cryptocurrency exchange operator, is looking into getting a crypto exchange-traded fund off the ground, and it has sought help from BlackRock.
The lack of trusted custody solutions is one of the main hurdles holding back institutional trading of cryptocurrencies according to consultancy GreySpark Partners.
Goldman Sachs Chief Financial Officer Martin Chavez called a report that the bank was ditching plans to launch a cryptocurrency trading desk “fake news.”
Edgewater Markets has made its dedicated Latin American currency and NDF trading platform, LatamFX.Pro, available to European clients.
Sucden Financial has partnered with FairXchange to provide its e-FX clients and partners with independent analysis of execution performance.
Darryl Hooker, former co-head of EBS BrokerTec Markets, is set to join Gil Mandelzis-led Capitolis as a consultant.
Trading Technologies will begin the phase out of X_TRADER in the fourth quarter this year. It has been developing the successor trading platform, known as the TT Futures platform, for six years.
Data sets for derivatives linked to the Secured Overnight Financial Rate (SOFR) index will support trading and risk modelling as volumes are expected to rise.
The Justice Department is probing whether employees committed fraud in Wells Fargo’s wholesale banking unit, following revelations that employees improperly altered customer information.
Sterling edged higher on Friday but was set for its biggest weekly drop in three weeks as traders consolidated positions before monthly US jobs data and as broader trade tensions dominated sentiment.
The dollar edged lower against a basket of currencies on Thursday, as investors positioned themselves ahead of Friday’s highly anticipated jobs report for August.
Australia’s dollar is finding itself in unusual company these days, getting sold along with former emerging market darlings such as the Indonesian rupiah and Indian rupee.