After years of trying to cater to their quickest customers, the world’s biggest futures exchanges are now looking to slow them down.
Singapore made the US Treasury’s watchlist for currency manipulation for the first time, throwing a spotlight on its exchange rate policies. The US uses three criteria to determine if a country is a currency manipulator: a current-account surplus of more than 2% of gross domestic product; a bilateral goods trade surplus with the US of at least $20 billion; and intervention in the foreign exchange market that exceeds at least 2% of GDP.
The US government is proposing regulatory amendments that would give it new firepower against countries it thinks are artificially weakening their currencies. The new trade-policy tool, if enacted, would enable the government to raise tariffs to protect sectors it believes are being harmed by deliberately undervalued foreign currencies.
A Manhattan federal judge has ordered seven US stock exchanges to face proposed class-action claims that they defrauded ordinary investors by quietly enabling high-frequency traders to trade faster and at better prices.
There is a growing sense that the post-global financial crisis round of regulation has failed and while the unwinding of some regulation may well reduce costs, there has to be a chance that the regulators do what they so often do – and come up with new rules.
A spat between European and British regulators over where shares should trade in the event of a no-deal Brexit has flared up after the UK Financial Conduct Authority accused its Paris-based counterpart of risking disruption to liquid markets.
The London Metal Exchange has told members that it will not challenge regulators’ overhaul of its idiosyncratic telephone-trading system, despite fears that trading could flood into opaque private markets.
The UK’s Financial Conduct Authority has banned Terry Farr from performing any regulated financial activity, saying the ex-broker had “acted dishonestly and lacked integrity” for his alleged role in the Libor rigging scandal.
A trial project using blockchain to transfer and settle securities and cash proved more costly and less speedy than the traditional way, Germany’s central bank president said.
New research has shown a growing percentage of crypto trades being executed via the OTC market and dark pools in a sign of the asset class maturing as it continues to evolve.
Robinhood Markets’s move to add cryptocurrencies trading last year was certainly a popular one, helping the maker of the free trading app double its customer base. But it needed help to pull it off.
The Board of the International Organization of Securities Commissions is seeking comments on a consultation paper that describes the issues associated with crypto-asset trading platforms and sets forth key considerations to assist regulatory authorities in addressing these issues.
Sonny Singh, BitPay chief commercial officer, discusses the landscape for cryptocurrencies.
The FX industry is no stranger to M&A. Since 2006, there have been 11 major transactions, with the pace only accelerating.
The US banking sector recorded $60.7 billion in profits in the first quarter of 2019, an increase in profit levels from the year prior, according to data from the Federal Deposit Insurance Corporation.
The biggest trading houses on Wall Street are warning of a slump. Citigroup said trading revenue has declined so far this quarter while Bank of America Corp. indicated revenue is on pace to be about 10% lower. They joined JP Morgan in reporting a downturn for the business.
The pound held near a four-month low against the dollar and the euro on Thursday as investors remained sidelined amid the contest to succeed Prime Minister Theresa May.
The dollar edged toward a one-week high on Thursday as the trade tensions between China and the United States prompted investors to seek shelter in the greenback.
YouTube is where Turks are turning for answers on the lira and the economy that they can no longer find in the country’s mostly neutered traditional media.