European Commission Introduces Mandatory OTC Swaps Clearing – Profit & Loss
The European Commission has adopted new rules that make it mandatory for certain OTC interest rate derivative contracts to be cleared through central counterparties.
Electronification of Asian FX on the Rise – Euromoney
Fuelled by regional treasury centres, electronification of FX is gathering pace in Asia.
Mexico Sells $100m in Auction Amid FX Market Volatility – Reuters
Aug 5 Mexico’s central bank sold $100 million on Wednesday in an auction with a minimum price trigger of 16.3353 pesos per dollar, the bank said, part of a program to boost foreign exchange liquidity following a slump in the peso.
Malaysia FX Reserves Sink to 5-yr Low Under $100bn – Financial Times
Malaysia’s foreign exchange reserves have dropped below $100bn for the first time since 2010, with the ringgit falling quickly and testing new 17-year lows.
Traders Have Disappeared From the Gold Market – Bloomberg
As gold continues to languish near its lowest price in five years, one element seems to be missing: traders
Behind Enemy Lines: Foreign Hedge Funds Thrive in China – Reuters
Hundreds of foreign hedge funds and traders are working in a regulatory grey area in China, using speculative trading strategies that are complicating regulators’ efforts to calm the country’s turbulent stock markets.
CCP Basis Market Takes Off – But Will Buy-Side Join In? – Risk.net (subscription)
Dealers are encouraging asset managers to trade CME-LCH swaps.
Bitcoin startups lure quant whizzes from Wall Street – Reuters
Once the province of small-time investors driven by their distrust of government-backed currencies, now Wall Street bankers and traders are leaving high-paying jobs to join bitcoin start-ups, while big firms hire in-house to get their arms around bitcoin and the related ‘blockchain’ technology.