Top Headlines

IMF Cuts Global Growth Forecasts Again, Cites Commodity and China Worries – Reuters The International Monetary Fund cut its global growth forecasts for a second time this year on Tuesday, citing weak commodity prices and a slowdown in China and warned that policies aimed at increasing demand were needed.

Asset Managers Drive Dollar’s Strength – FT.Com (subscription) Asset managers rather than hedge funds have been the power behind the dollar’s strength this year and will continue to determine the direction of the reserve currency

Brokers ‘Enthusiastically’ Aided Libor Conspiracy, Prosecutor Tells Court – Reuters Six former interdealer brokers with nicknames such as “big nose” and “Lord Libor” were rewarded with kickbacks and bribes for “enthusiastically” helping a trader rig a global interest rate, a prosecutor told London’s second Libor trial.

Could the Blockchain Solve the Collateral Conundrum? – TheTradenews As the financial industry continues to tackle the challenge of collateral management it is only natural for a range of solutions to be touted as the ‘savior’ of said troubles.

Four Ways Currency Rigging Transformed the $5.3 Trillion Market – Bloomberg A price-rigging scandal involving some of the biggest banks in the $5.3 trillion-a-day  foreign-exchange market is filtering through to customers, according to a report from Greenwich Associates.

Steely Nabiullina Fights Russia’s Fires – Euromoney Elvira Nabiullina, Russia’s central bank governor, is staunchly sticking to her controversial crisis-fighting plan as Russia reels from its biggest financial crisis since 1998.



Regulatory News

Regulators Propose New Banker Reference Form to Weed out Bad Apples – Guardian Banks would have to get references going back six years when hiring new employees for senior roles under proposals from UK regulators aimed at stopping “bad apples” from switching jobs easily.

ECB Sets Out Speaking Guidelines Five Months After Coeure Slip – Bloomberg The European Central Bank set out guidelines on external meetings by Executive Board members, five months after it was criticized for the release of information at a restricted dinner event.



Company News

Spot FX Trading on Thomson Reuters Platforms Drops from 5-mth High – Reuters Oct 6 Daily spot trading volumes on foreign exchange platforms run by Thomson Reuters fell more than 8 percent in September from a month ago, the company said on Tuesday, as some of the volatility created by China’s yuan devaluation waned

SmartStream, Banks, Combine to Create New Reference Data Utility – Profit & Loss The SmartStream Reference Data Utility, informally known as Securities Product Reference Data (Spred), will provide services for instrument reference data normalisation and validation across all asset classes.

FXSpotStream Adds BTMU – Profit & Loss Bank of Tokyo-Mitsubishi UFJ (BTMU) has become the 12th liquidity provider to FX Spotstream’s aggregation service.

Icap Launches New Euro Interest Rate Swap Index – Profit & Loss Icap’s Global Broking business and Icap Information Services (IIS) have launched a new euro interest rate swap index.

CME’s London Foray Lost More Than £5m in 2014 – Financial News (subscription) The London-based exchange launched by futures giant CME Group lost over £5 million in its first year of operation, underlining the difficulties of launching a new marketplace in the region.

Goldman, Morgan Stanley Win Back Hedge Fund Trading Business – Reuters Goldman Sachs and Morgan Stanley are winning back the trading business of hedge fund clients that they lost to European rivals during the financial crisis.



Market Savvy  

Rising Oil Powers Broader Market Rally – Reuters A recovery in oil prices spread to stock markets and emerging market currencies on Wednesday, with the prospect of more support from the world’s central banks offsetting more disappointing economic data.

Pimco’s Balls Says Transparency May Hit EU Bond-Market Liquidity – Bloomberg Andrew Balls, chief investment officer for global fixed income at Pacific Investment Management Co., said European Union transparency rules may take a toll on bond-market liquidity.



Press Releases

Rival Systems Signs Cardinal Capital Management for Rival Trader – PRNewswire Chicago-based Rival Systems a trading software company established earlier this year, announced today that Cardinal Capital Management has deployed the new Rival Trader front-end derivatives trading and risk management platform.



Industry Events