A UK tribunal ruled that Barclays will have to re-engage the former head of automated flow trading, who won his unfair dismissal claim in March this year. Since then, David Fotheringhame has been battling to get his job or a similar and equivalent position back with the bank.
The Benefits of Being a Small Fund – Profit & Loss (subscription)
A small fund is not subject to the same processes, scrutiny and due diligence of a larger player – effectively they are not “institutionalised” by an investment industry which seems to become more risk averse (in operational terms) on a monthly basis. There has been a lot of event risk in markets for at least two years, but hedge fund performance hasn’t been that great overall. Obviously there are pockets of outstanding success, and I wonder if the majority of this success emanates from firms that are not pigeon-holed?
Tabb Group’s new head of fixed income research George Bollenbacher looks at the challenges and implications of the IBOR replacement effort as well as an approach that maximizes the chances of success.
Many investors may look back next year and wish that they had snapped up a few lira when they had the chance.
- Turkish Lira Firms Before Finance Minister’s Presentation – Reuters
- Turkey Was Ripe for a Currency Crisis. Will It Spread? – Bloomberg
- These Charts of Past Currency Crises Show Turkey May Face a Lot More Pain – CNBC
Bitcoin recovered from the lowest level since June and scores of smaller digital tokens rallied as concern eased that investors are giving up on the virtual alternatives to cash after this year’s collapse in prices.
The US Commodity Futures Trading Commission’s decision to provide three-year no-action relief to Shanghai Clearing House from registering with the regulator could encourage more US banks to sign up as a clearing member, say market participants.
The market may become less clear to read if hundreds of SIs appear tomorrow, Horizon Software CEO Sylvain Thieullent says.
- Mifid II: Market Explores Process Trade Options – Practice Insight (subscription)
- Independent Research Providers Call for Mifid II Changes – MarketsMedia
Last week, lawyers representing JP Morgan, Bank of America, Citigroup, Wells Fargo and six other banks met with the Federal Reserve to complain about the recent proposal to revise the regulation designed to curb risky trading by banks.
Right now, virtually every conversation around the next price swing in Bitcoin devolves into a debate about whether or when a Bitcoin ETF will get launched.
Bitcoin and cryptocurrency adoption rates around the world are growing, but not quickly enough to prevent the bitcoin price from falling – and now the chief executive of Coinbase, one of the world’s largest cryptocurrency exchanges, has warned that widespread, mass bitcoin adoption for payments is going to be a long time coming.
Archax, one of a new breed of exchanges for trading cryptocurrencies, has moved to shore up its money laundering defences as it tries to tempt City firms to begin investing in digital money.
If you want to buy Bitcoin without actually buying Bitcoin, you now have another way to own the controversial digital currency.
Regulatory reporting technology provider Cappitech has expanded its integrated reporting solution to CME Group’s Australian Trade Repository.
Nex’s Infinity distributed ledger technology will hopefully go live this quarter, while other elements are already accessible on the platform, says Andres Choussy, the head of trade and portfolio management at the company.
The UK’s Investment Association has added its first fintech member in a move designed to encourage engagement between technology firms and its buy-side membership.
Morgan Stanley grew the amount of margin required for US swaps clearing customers by $699 million, or 4.3%, over the second quarter – the most of the top five futures commission merchants, regulatory data shows.
The euro recovered on Thursday from its weakest since late June 2017 and the dollar fell after news that a Chinese delegation will travel to the United States for trade talks, with investors buying back into currencies hit hard in the recent sell-off.
Sterling languished near 14-month lows on Thursday, and strong British retail sales did little to support the currency hamstrung by fears about Britain leaving the European Union.
The dollar was nudged away from a 13-month peak on Thursday as risk aversion eased and emerging market currencies bounced back on news that a Chinese delegation will travel to the United States late in August to hold trade talks.
If there were any doubts that the euphoria following Cyril Ramaphosa’s election as president of South Africa has worn off, this week’s slump in the rand has removed them.
Investors have brushed aside Australia’s world-beating economic growth to make its currency the whipping boy of the trade war.