Fed Raises Interest Rates, Citing Ongoing US Recovery – Reuters
The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday, signaling faith that the U.S. economy had largely overcome the wounds of the 2007-2009 financial crisis
CFTC Passes Final Uncleared Swaps Margin Rule – With Reservations – Profit & Loss
The Commodity Futures Trading Commission has passed the final rule on margin requirements for uncleared swaps, however one commissioner has dissented over the move and another noted the rule “reflects a disingenuous reading of the Dodd-Frank Act to favour cleared derivatives over uncleared swaps”
FX Mispricing Costing Buy-Side Billions Each Year – The Trade
Mispriced Foreign Exchange transactions cost the European fund management industry and their underlying clients approximately €1.5 billion per year, according to a paper published by The New City Initiative, a think tank representing the interests of asset managers.
EU Regulator to Recommend Bonus-Cap Exemptions – E Financial News
EU regulators will next week recommend a series of exemptions to strict rules capping bonuses at financial companies, a move that could mean reprieve for small banks, brokerages and asset managers.
FX Monitoring Systems Remain in Infancy – Euromoney
One of the Financial Conduct Authority’s key observations when it announced the fines for banks found to have failed to control business practices in their G10 spot FX trading operations was that ‘monitoring was not designed to identify the behaviours’ found in its investigation.
FT Explainer: Currency Trading Algorithms – Financial Times
Algos are being designed to carry out ever more complex functions.