Average daily trading volumes of currencies in July remained broadly flat compared to the previous year, NEX Group said on Friday, despite an uptick in tensions over global trade that rattled forex markets.
Brokers’ Cryptocurrency Deals Are Focus of SEC Review – Bloomberg
Wall Street’s main regulator is boosting its scrutiny of brokerages that deal in cryptocurrencies, according to two people familiar with the matter, the latest sign that authorities want to know more about a burgeoning market that they fear might be full of misconduct.
Artificial intelligence, machine learning, and a move to the cloud are cited as trends in improving transaction cost analysis as regulators have focused on best execution.
Sterling fell below $1.30 to an 11-day low on Friday after Bank of England Governor Mark Carney said there was an “uncomfortably high” risk of Britain leaving the European Union without a deal.
- Carney Sees ‘Uncomfortably High’ Risk of No-Deal Brexit – Financial Times (subscription)
- Pound Loses BOE Crutch as Brexit Erodes Faith in Hawkish Outlook – Bloomberg
The dollar rose for a fourth straight day on Friday, benefiting from turbulence caused by an escalating US-China trade conflict, as investors prepared for a US jobs report due later in the day.
Major state-owned Chinese banks were seen selling dollars on Friday afternoon in an apparent attempt to put a floor under a tumbling yuan, as the worsening trade dispute between the US and China drove the currency to a fresh 14-month low.
Probes from the Securities and Exchange Commission and Commodity Futures Trading Commission include concerns that Options Clearing Corp. failed to accurately forecast how much cash would be needed to cover trading losses triggered by a spike in volatility last February.
The European regulator postponed the systematic internaliser compliance date for derivatives to March 2019.
The Commodity Futures Trading Commission (CFTC) announced multiple whistleblower awards totalling more than $45 million. The awards demonstrate the growing success of the CFTC’s Whistleblower Program, in particular the increasing volume and complexity of incoming whistleblower submissions.
Buyside firms will be directly concerned by initial margin rules in September. This may impact derivatives pricing and volumes ahead of 2020 when all counterparties trading over-the-counter derivatives are set to be included within the rules.
A massive wrong-way bet on Bitcoin left an unidentified futures trader unable to cover their losses, burning counterparties and threatening to dent confidence in one of the world’s largest cryptocurrency venues.
With bitcoin still in its infancy, UBS experts doubt the cryptocurrency satisfies the definitions of an alternative asset class.
This year’s selloff in virtual currencies has done little to dent investor enthusiasm for initial coin offerings, which attracted a record $12 billion in the first half.
Forex was one of the most dominant industries among the retail traders/investors for the last two decades. Now, with the growing popularity of crypto trading, the two industries are approaching a crossroad. It’s time to examine the relationship between forex brokers and crypto exchanges and to try to understand where this is going.
With more than 500 cryptocurrency exchanges in the world today and about 1,500 cryptocurrencies, digital assets are truly a global market that has grabbed the attention of everyone from the retail investor to major institutions. But with a market that has literally pulled in millions of individual accounts globally, it has brought in a small percentage of traditional institutional players.
Northern Trust is currently providing accounting services for select clients that have a small portion of their assets in cryptocurrencies.
The deal will see the Reuters Capital Markets 19901 benchmark add US Treasury data from Tradeweb’s business Dealerweb, alongside continued USD interest rate swap and multi-currency information from Icap.
The chief executive of ICE said his group has taken a “double-edged strategy” with regard to Libor.
CME Group will change the time its FX options expire to 10am ET. This change will begin with contracts expiring after June 9, 2019. Clients across time zones will be able to trade listed options that expire at the same time as most over-the-counter contracts.
Dash, an open source, peer-to-peer cryptocurrency that launched in early 2014 as a fork of the Bitcoin software, is aiming to shift its image from being known initially as ‘the privacy coin’, by redefining its benefits as a payments-oriented network with a new release on the way. CEO of Dash Core Group, Ryan Taylor, talks about what’s coming up for the altcoin in 2018.
The company’s report indicates that FXCM has managed to pay back $343.4 million of the loan. As of June 30, 2018, the retail broker still has another $70.4 million to pay back.
The sell-off in the Turkish lira continued on Friday with the currency hitting a fresh record low against the dollar following US sanctions.
If you thought the first half of the year was rocky for emerging market economies, brace for turbulence ahead with dollar strength and a weaker Chinese currency set to keep investors on edge.
Twenty years after its formal creation, few can honestly say that the single currency has been a success, and more trouble is looming.