Former Barclays trader Peter Little, who was accused of using electronic chat rooms to coordinate with bank traders allegedly trying to manipulate foreign-exchange rates, is being fined $487,500 by the Federal Reserve and facing a permanent ban from US banking.
The dollar enjoyed a small rebound as investors bought back the greenback following its plunge to three-year lows.
As Americans celebrate Presidents Day, currencies strategists are debating whether the dollar’s tumble this year is set to continue.
Britain’s pound inched down against the dollar and euro, with traders cautious ahead of key wages data due later in the week that should give them clues to the pace of monetary tightening from the Bank of England.
The yen cemented its place as the best-performing major currency this year with its biggest weekly advance in more than 18 months.
Economists who follow the Bank of Japan aren’t buying the idea that the central bank is near the point where it will begin to normalize its ultra-loose monetary policy.
A new working paper from the Bank of England analyses the role of automated trading (AT) in FX markets in a period containing the 15 January 2015 announcement by the Swiss National Bank that it had removed its EUR/CHF floor and finds that while AT “generated uninformed volatility”, human traders did the opposite.
The FX industry has been caught out by the advance of technology before, so although the report looks at the issue across broader financial markets, the FCA’s study on algorithmic trading should be essential reading for anyone senior in the industry.
Guy Verhofstadt, the EU parliament’s Brexit chief, has suggested that Britain cannot cherry pick the areas where it wants to make bespoke deals, and that any deal should ensure there “should be no competitive advantage for either the UK or EU”.
Half of UK investment companies are planning to establish European operations.
There isn’t much left up for grabs, but 2018 will see a deal in the platform world.
Emir review calls for clearing access to be ‘non-discriminatory’ – might mean banks have to take risky clients.
Securities regulators suspended trading in the shares of three microcap companies that made what they said were questionable claims about their control of cryptocurrency and blockchain-related assets.
While some uncertainty exists with regard to the US regulatory regime that applies to public offerings of digital coins (ICOs), in the area of services related to digital currencies, regulations are expected to come into effect on June 1, 2018, within the scope of the Control of Financial Services Law.
Dealers fear central bank’s new rate won’t arrive in time to create swap curve by 2020.
BestX has expanded its suite of best execution analytics with the launch of a new Trend Analysis module.
Thousands of customers of Coinbase, one of the largest bitcoin-related firms dealing with the public, may have suffered repeated, incorrect duplicate charges on their digital-currency purchases, the firm said.
Crypto specialists and economists see the launch of Petro as a way to circumvent the sanctions imposed by the US and fight hyper-inflation in the country.
Most Asian currencies consolidated as low liquidity and an absence of currency market catalysts limited gains, but strong regional equity markets propped them up.
The Canadian dollar weakened against its US counterpart, pulling back from an earlier 11-day high as the greenback broadly climbed and domestic data showed a drop in manufacturing sales.