European exchange group Euronext has become the latest to buy into the OTC FX market, announcing it has acquired around 90% of FastMatch for $153 million initial cash consideration.
The euro hovered near a six-month high against the dollar after German Chancellor Angela Merkel said the currency was “too weak,” while the pound sagged against the yen after a blast at a concert in Britain’s city of Manchester killed at least 19 people.
The euro set a new six-month month high and the region’s shares made gains as the latest economic data made for some encouraging reading, especially in Germany.
Macron’s win helps transform the currency’s fortunes, making it the top G10 performer.
The dollar dipped against the basket of currencies that measures its broader strength, low 10-year US Treasury yields underlining the collapse of faith in a promised boost to growth and inflation from the Trump administration.
Banks and investors will end up $100 billion worse off if the European Union forcibly repatriates the clearing of euro-denominated derivatives after Brexit, according to London Stock Exchange Group’s Chief Executive Officer Xavier Rolet.
Profit & Loss talks to David Puth, CEO of CLS and Chairman of the Market Participants Group (MPG), about how the FX Global Code of Conduct will work.
A few years ago, CME Group’s main profit engine was stuck in low gear. Now it is in overdrive.
The primary US commodities regulator, the Commodity Futures Trading Commission, said that it has approved rule changes to bolster protections for whistleblowers and improve its process for reviewing claims.
As the Labor Department acts to revise the Fiduciary Rule and others, the process requires patience.
Profession fears it is being sacrificed over desire to punish individuals for misdeeds.
The rule is basically dead, Keefe Bruyette & Woods analyst Brian Gardner wrote in a note to clients last Monday.
Nex Group will detail its year-long project to restructure its post-trading division, in a move designed to boost corporate profitability and bolster the use of blockchain technology to record deals.
Fund management institutions can now access the CLS system in Korea for the first time via CLS third-party service provider, HSBC.
Trading firm KCG Holdings, which Virtu Financial is buying for more than $1.3 billion, is eliminating 10 percent of its staff and shutting offices in Singapore and Mumbai, according to a person familiar with the matter.
Ledger Holdings, the New York-based parent company of bitcoin options exchange LedgerX, said it closed $11.4 million in funding led by Miami International Holdings and China’s Huiyin Blockchain Venture Investments.
Asian currencies were subdued, with a suicide attack in Manchester dampening a mild resurgence in risk appetite, just as investors had begun looking past the political crisis still simmering in Washington.
Brazilian markets extended their losses on fears the country’s mushrooming political crisis will derail efforts to pull Latin America’s biggest economy out of its worst-ever recession.