Global Tagging System Proposed for Derivatives Trades – Reuters
Global regulators and central bankers have proposed a common tagging system for off-exchange derivatives transactions to spot more easily which banks could be at risk in a market crisis.
FX Trader Carlier Says Lloyds Fired Him for Whistle-Blowing – Bloomberg
Paul Carlier, a former foreign exchange trader at Lloyds Banking Group, is suing the UK-based lender, claiming he was dismissed for blowing the whistle on alleged malpractice.
Central Banks Engaging the Market in Debate over Structural Issues – Profit & Loss (subscription)
I have the distinct impression that central banks are trying to get more involved in the debate over structural change. The Bank of England has launched its Bank Underground series of blogs and the New York Fed’s Liberty Street Economics group is in the midst of a series of five papers on liquidity. And of course we have the Financial Stability Board establishing multiple committees and working groups to look at enhancing the market structure.
IMF Delays China’s Bid for Global Reserve Currency Status – Financial Times (subscription)
The International Monetary Fund has decided that China’s currency will not be included in a basket of reserve currencies for at least a year, delaying a move some had expected to take place as soon as January even as it took pains to stress the decision was largely procedural.
Treasuries Speed Trading Vaporizes Price Gap with Futures – Bloomberg
The ascent of high-speed trading in the past few years has strengthened the correlation between Treasuries and the futures contracts linked to them, according to research from the Federal Reserve Bank of New York.
Fintech 40: We’ve Seen the Future and It’s Blockchain – Financial News (subscription)
Blockchain, the technology behind the bitcoin electronic currency, may not have the best resume but big things are expected of it by the Fintech 40, the people identified by FN in June as the most influential in European fintech.
Former traders, Brokers Take on Compliance Roles – FOW (subscription) There is a growing trend across the financial services space of ex-traders, brokers and bankers taking on compliance roles. This ‘poacher turned gamekeeper’ scenario is being embraced mainly due to the fact that those with experience of operating within the market, especially in a trading, market-facing role, can approach compliance functions with a different perspective.