The Foreign Exchange Professionals Association (FXPA) has filed a comment letter with the CFTC in connection with its recent proposal to maintain the current $8 billion de minimis threshold for swap dealer registration.
Industry in Alignment Over CFTC Swap Dealer Rules – Profit & Loss
There appeared to be a broad consensus in the responses to the Commodity Futures Trading Commission’s proposed swap dealer rules that the Commission should retain the current $8 billion de minimis threshold for swap dealer registration and that NDFs should be excluded from the threshold calculations.
Foreign exchange traders are always scanning the globe for signs of government intervention in the market – but it’s rare for them to suspect the world’s reserve currency as a candidate.
The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 0.21% gain in July. Year-to-date, the index has lost 1.98%.
Derivatives rules first introduced in December 2015 have come up on the SEC’s spring 2018 regulatory agenda, with a recommendation the rules be revisited.
Banks are planning to ask regulators for capital relief during attempts to move roughly $370 trillion in swaps notional away from Libor to new interest rate benchmarks.
In January, the elite of the securities bar gathered for an annual conference at a resort near San Diego, eager to hear from Walter J. “Jay” Clayton, the new chairman of the Securities and Exchange Commission. Clayton was slated to deliver the gathering’s keynote address. What he really delivered was a shot across the bow.
It is essential that market participants approach compliance with the Securities Financing Transactions Regulation (SFTR) from a global perspective, including selecting a trade repository that operates globally and can ensure continued servicing of its clients in the UK as well as in the Eurozone.
With more than 500 crypto exchanges around, prices vary depending on where you look, leaving investors trading blind.
A broad investor retreat has pushed the market for digital currencies down 70% from its January high, reflecting user frustration over their modest inroads into commerce and a general shakeout in speculative investments.
Cboe Global Markets wants to be the first to list a Bitcoin exchange-traded fund, though there’s still a lot of work needed to win approval from the US Securities and Exchange Commission.
Coinbase, one of the world’s largest cryptocurrency exchanges, was signing up 50,000 new customers a day last year, Chief Executive Officer Brian Armstrong said.
Blockchain investment and advisory firm NKP Group and crypto trading FinTech CRYPTALGO are to collaborate on providing crypto, trading and brokerage services to meet growing institutional demand as part of a new partnership.
AirSwap, a decentralised global network for Ethereum tokens, is rolling out a private, beta version of its new conversational OTC features.
The Chicago-based exchange’s interest rate products span the US dollar-denominated yield curve.
Enterprise blockchain technology specialist Axoni has closed its Series B financing round with participation from JP Morgan, Wells Fargo, Franklin Templeton Investments and NEX Group, drawing $32 million in investments.
The Turkish lira rallied after the nation’s banking regulator limited lenders’ swap transactions, a move that is likely to deter short-selling in the battered currency.
- Turkey’s Lira Continues to Recover – Financial Times (subscription)
- Global Stocks, Emerging Currencies, Lick Wounds as Lira Bounces for Second Day – Reuters
Sterling slipped below $1.27 to its weakest level since June 2017 as the dollar extended its recent rally and after British price rises for the month of July were as expected.
The dollar rose on Wednesday to its highest levels in over a year as a crisis in the Turkish lira that has spread to emerging markets fed demand for the greenback as a safe-haven asset.
Hong Kong intervened for a second day to defend its currency’s peg to the dollar after it fell to the weak end of its trading band.
The fate of the world economy depends on how China negotiates a weakening currency and capital flight.