Though London risks losing derivatives clearing in the long term, fintech sees a rosier future. Financial-services negotiations have taken a back seat to trade, yet the industry remains the country’s biggest export.
The 2008 crisis and the reforms that followed have sparked a profound behavioural shift.
The impact of the cuts fall mainly on the emerging markets FX team, where the Japanese bank is scaling back its business while retaining its capabilities in the currencies space. But Nomura also indicated it will “downscale” its G10 FX team.
SWIFT, IBM, Ripple and around 100 other firms and organizations have joined a new blockchain association to promote adoption of the technology across the EU.
With the first quarter in the books, analysts are revising their expectations on how bankers and traders fared during the first three months of the year. In short, most had a difficult Q1.
The European Securities and Markets Authority (ESMA) has today published an updated version of its supervisory briefing on MiFID II appropriateness requirements.
Speaking at the Global Investigations Review Live event in London Mark Steward said some of the investigations were entering “important phases” and tackling “very serious” issues.
President says ‘this is an epic deal, historic – if it happens,’ but Trade Representative Lighthizer says major issues remain.
Only four months ago, Bitcoin seemed on the verge of extinction as investors fled one of history’s biggest bubbles. But after the steepest two-day rally since the height of crypto-mania in 2017, more and more market observers are asking the same question: Has Bitcoin bottomed out?
Although central banks are among the most cautious and prudent institutions in the world, a new white paper published by the World Economic Forum indicates that these institutions, perhaps surprisingly, are among the first to implement blockchain technology.
DTCC (the Depository Trust & Clearing Corporation) has been studying distributed ledger technology and starting to apply it to upgrade some of its infrastructure, such as in an initiative to re-platform its Trade Information Warehouse.
The creator of the first exchange-traded product that tracks Bitcoin is introducing versions for rival tokens. Stockholm-based XBT Provider is rolling out trackers that mimic the price of Litecoin and XRP, the Ripple token, to tap into an investor public that wants the added protection of a regulated exchange.
Singapore-based digital asset custodian Onchain Custodian has announced it is to launch its digital asset custody platform, SAFE.
Small-fry investors were already stirring before this week’s surge in digital coin prices. In the prior two weeks, a high number of electronic storage accounts known as digital wallets holding Bitcoin became active, according to market intelligence firm Flipside Crypto.
Blockchain startup Digital Asset is open sourcing its Digital Asset Modelling Language (DAML), the beating heart of projects like the partial re-plumbing of the Australian Securities Exchange.
London-based clearinghouse LCH has implemented three new workflow automation solutions from software provider genesis, across its foreign exchange, swaps and CDS clearing lines.
JP Morgan spends a huge $11.5bn on technology annually. Although the bank wants to get a grip on tech spending this year by, for example, building standardized and reusable application programming interfaces, it also acknowledges that technology is the way forward, particularly in sales and trading.
TraderTools is planning to introduce a suite of algorithms later this year, designed to enable regional market-making banks to act like high-frequency traders in their own local currencies.
All of the Societe Generale CTA indices posted positive performance in March, with trend followers in particular performing well.
JP Morgan has become the first member under the DTCC’s new fixed income sponsor member programme to clear a repo transaction.
The collaborative project will deliver global, multi-asset and multi-currency coverage to MarketAxess and Virtu RFQ-hub clients.
Sources say that this will allow the information giant to focus on more valuable business lines.
Nobody likes Deutsche Bank and Commerzbank’s planned merger. The alternatives look more palatable.
Sterling strengthened on Friday as Prime Minister Theresa May asked the European Union to delay Brexit until late June, but its tentative moves reflected continued unease among investors.
Optimism for a US-China trade deal helped the dollar hit a three-week high against the yen on Friday, although moves in broader foreign exchange markets were limited as investors saw a lot of headlines but no conclusions out of the trade talks.