Top Headlines

Fired RBS Trader Says He Was ‘Scapegoat’ for FX fine – Reuters A former foreign exchange trader fired by Royal Bank of Scotland said he was a scapegoat and that the state-backed bank had “dishonestly contrived” his dismissal to divert attention from its own failings.

Euro-Area Inflation Rate Turns Negative as ECB Debates Stimulus – Bloomberg The euro area’s inflation rate unexpectedly turned negative in September for the first time in six months, adding pressure on the European Central Bank to bolster stimulus.

Shaky China, Asia Activity Surveys Leave World Outlook Vulnerable – Reuters Factories in Asia cut more jobs and throttled back output in September as domestic and export demand shrivelled.

China PBOC Allows Foreign Central Banks to Trade Onshore FX – Market News International The People’s Bank of China said late Wednesday that foreign central banks, sovereign wealth funds and international financial organizations will be allowed to trade foreign exchange in the onshore market.

Questions About Leak at Federal Reserve Escalate to Insider-Trading Probe – Wall Street Journal (subscription) Firm at center of probe says it is a media organization with special legal protections.

Greenwich Associates Examines the Widely Varying Views on Blockchain and Wall Street – Traders Magazine Can bitcoin and the blockchain be mutually exclusive? Or are they forever inextricably linked?



Regulatory News

FSB’s Cautious Welcome for Benchmark Reform Progress – Profit & Loss The foreign exchange industry has made “welcome progress” in implementing reforms to the benchmark fixing process.

Eurocrat Whisperer Must Offer Meatier Slice of Market Reform – FT.Com (subscription) Lord Hill’s ideas all very Anglo-Saxon and thus very un-European.

EU Weighs Regulatory Burden, Unveils Capital-Markets Boost – Bloomberg The European Commission will assess the collective impact of more than 40 pieces of regulation adopted in the wake of the financial crisis.



Company News

R5FX Goes Live with Latam FX Trading – Profit & Loss Emerging markets trading platform R5FX has added Latin American trading to its platform with live trading now available in Brazilian real, Chilean peso and Colombian peso.

TraderMade Unveils FXQuest – Profit & Loss Tradermade Systems has launched FXQuest, a subscription, cloud-based technology platform that gives clients the ability to retrieve reliable, accurate information on more than four decades of foreign exchange data.

Northern Trust Launches Buy Side FX Product – Profit & Loss Northern Trust has launched CompleteFX, a stand-alone FX product for investment managers that offers outsourced FX processing and execution services.



Market Savvy  

Bearishness Towards Yuan, Rupee Ebbs; Rises for Other Asian Currencies: poll – Reuters Investors increased bearish bets on most emerging Asian currencies in the last two weeks after Federal Reserve officials kept open the possibility of an interest rate hike in 2015.

After Rough Quarter, Investors Buckle Up – Wall Street Journal (subscription) More large price swings are expected heading into a month that is associated with market tumult.

Morning MoneyBeat Europe: European Bulls in View – Wall Street Journal (subscription) The new quarter seems to have already attracted its share of bulls in Europe, with the region’s stock markets extending Wednesday’s gains in early trade after the Dow closed sharply higher.

FX Volumes Decline During September at Both HotspotFX and FastMatch – Finance Magnates Without the same type of sharp volatility in equities that was seen in August, FX volumes were lower during September at HotspotFX.



Press Releases

CFTC Orders Deutsche Bank AG to Pay a $2.5 Million Civil Monetary Penalty  – CFTC CFTC finds that Deutsche Bank did not diligently address and correct errors until after bank was notified of CFTC investigation

Orca SMT FX Trade Execution Interface Enters Beta Phase – Profit & Loss Orca SMT, the new FX pricing, execution and management interface designed for use by foreign exchange salespeople, has announced its beta launch.



Industry Events