Bank trading revenue in the second quarter rose by more than 25% from a year earlier to $6.9 billion on rising combined interest rate and foreign exchange revenue, according a report issued by the Officer of the Comptroller of the Currency.
Treasuries and FX volumes each notched sizable gains in September, easily besting their August counterparts.
CME Group’s September volumes notched a sizable turnaround, led by FX contracts which soared 53% MoM.
All clearing houses for securities trading in the European Union will be required to comply with new rules aimed at managing their financial collapse in a way which does not jeopardise the smooth working of markets, a draft EU law seen by Reuters showed.
The British pound took another bludgeoning on fears over Britain’s looming “hard” exit from the European Union and analysts predict the currency’s slide isn’t over.
- Best Euro to Pound Exchange Rate Since 2011, and More Gains Are Forecast – Pound Sterling Live
- Euro Makes Broad Gains, Rises to Five-Year High Against Sterling – Reuters
Prime Minister Theresa May said that Britain’s economy was strong with more positive growth rates than some had expected and, when asked about the fall in sterling, added that currencies “of course go up and down”.
Managing FX volatility is the most common problem facing small and medium enterprises when making international payments, according to a new survey from Afex.
Fresh reminders that central banks may be starting to map their retreat from extraordinary stimulus measures sent a shock wave through markets, roiling bonds, currencies and equities.
It was not more than three years ago that the establishment icons of the world like the Wall Street Journal and the International Monetary Fund were wholly ignoring Bitcoin and the world of digital currency.
The allure of creating a digital currency with distributed-ledger technology has continued to grow as financial firms gain a better understanding of how the complex technology works.
A clubby world transformed by a mix of heavy regulation, poor industry economics and technology.
There are three primary factors that will influence London’s future as a Euro-clearing centre: liquidity, perceived financial stability issues and politics.
Global central banks increased their holdings of British pounds 2.4% during the second quarter to an all-time high of $352.1 billion, according to data from the International Monetary Fund.
Despite booming business, technology vendors find clients struggle to say what they need to comply with coming rules.
Covering 80% of venues is considered enough to approximate total market size under MiFID II.
Digital currencies won’t topple hard money printed by central banks any time soon, particularly in countries such as Japan with a solid, established financial infrastructure, a senior Bank of Japan official said.
In the first monetary policy review under RBI Governor Urjit Patel, the repo rate was slashed by 0.25 per cent to 6.25 per cent in a unanimous decision by the new rate-setting panel, or MPC.
Sterling’s Brexit slide is deepening a divide between winners and losers among British companies, with big multinationals and exporters largely benefiting, and importers — and many consumers — suffering from higher costs.
Tullett Prebon has named its global executive committee in anticipation of a successful completion of its deal to acquire Icap’s hybrid broking and information business later this year.
The Moscow Exchange has increased the default fund of its central counterparty NCC Clearing Bank to RUB 9.5 billion (£119 million) up from RUB 6.5 billion.
The currencies of Russia and other major resource-exporting countries have made notable gains in recent weeks as investors’ appetite for risk has improved, but the market will have new US jobs data to chew on this week.
Most Latin American stocks and currencies seesawed on Tuesday as investors reacted to local issues as well as rising oil prices and uncertainty over US monetary policy.
Investors who were shorting the Mexican peso to offset their long asset positions are now unwinding their trades, according to investor Mark Dow, as hawkish comments from Federal Reserve officials pushed assets from gold to stocks down.