The Foreign Exchange Professionals Association (FXPA) is finishing 2016 with a lot of work in progress and, as evidenced by recent requests for its insights, has further established its reputation as a trusted resource for policymakers. Launched in September 2014, FXPA welcomed six new members to the FX trade association during 2016, bringing the diverse organization’s membership up to 25 banks, buy side firms, trading platforms, clearinghouses, exchanges and technology companies.
Goldman Sachs has paid a $120 million fine after settling with the US Commodity Futures Trading Commission (CFTC) over accusations its traders attempted to manipulate the ISDAfix interest rate benchmark setting. Goldman neither admitted nor denied the charges in settling.
The Reserve Bank of India (RBI) has imposed monetary penalty on five authorized foreign exchange dealer banks for violation of RBI instructions on reporting requirements under the Foreign Exchange Management Act, 1999 (FEMA).
3Red Trading and its owner Igor Oystacher have been convicted of spoofing by a US District Court and fined $2.5 million.
The dollar retreated from a 14-year high, while the Swedish crown booked its biggest gains in six months after Sweden’s central bank voted by a thin margin to extend its bond purchase program.
The dollar edged up to levels around ¥117.70 in Tokyo trading, ahead of the Christmas weekend, with the Tokyo market to be closed for three days from Friday.
Sterling fell to a two-week low against the euro after a survey of British consumers showing a gloomy view of the economy’s prospects next year kept it on the defensive against a perky single currency.
European markets were poised for one last burst of action before the end of the year, with Italy expected to outline plans to rescue the world’s oldest and now its most troubled bank, Monte dei Paschi di Siena.
The total value of all bitcoins in circulation hit a record high above $14 billion, as the web-based digital currency jumped five percent on the day to its highest levels in three years after more than doubling in price this year.
Bonds, currencies and stocks in Asian emerging markets that are less dependent on external demand, such as India and Indonesia, are the most popular picks for investors and strategists next year.
Could it be San Francisco Federal Reserve president John Williams… or could it be Japan’s Shinzo Abe… or perhaps the IPSOS-MORI poll that predicted a Brexit remain win?
Traditional measures of volatility at historic lows and Wall Street stocks at new record highs went hand-in-hand in 2016 with traders fretting about bouts of wild stock-price swings and currency flash-crashes.
Kyle Hauptman, executive director of the Main Street Growth Project, appointed to team.
China may adjust its investment in US Treasuries while reductions in Treasury holdings is a tactical move, foreign exchange regulatory official Li Hongyan told reporters.
What will be the top financial merger of 2017? It will be America’s two markets watchdogs – the Securities and Exchange Commission and the Commodity Futures Trading Commission – crunching into one über-regulator.
In the headlong rush to revolutionize modern finance, blockchain enthusiasts are overlooking one potentially costly problem: their applications, built on open-source code, may actually belong to someone else.
CME Group has doubled the position limits on its Russian ruble/US dollar foreign exchange futures and options contracts.
Otkritie Capital offers brokerage services spanning across equity, derivatives, fixed income, foreign exchange and commodities.
Brazil’s real led gains among peers as the dollar wavered in light trading before the holidays.
The South Korean won hit a more than nine-month low and the Taiwan dollar touched a near five-month trough, as the outlook for Asian currencies remained clouded by expectations the Fed could raise rates at a faster pace next year.
The rupee extended gains and opened 8 paise higher at 67.83 against the dollar after the American currency lost some of the steam against a basket of top global currencies as investors booked some profit before the release of US economic data due later in the day.