The absence of a regulatory imperative has not deterred FX traders from increasing their use of transaction cost analysis tools, in turn increasing the pressure on brokers at a time when margins are already thin.
The average daily volume of FX trades submitted to CLS in April was $1.63 trillion, down 12.5% from the $1.86 trillion reported in March 2019.
China has a powerful financial-market arsenal for its trade tussle with America, including a hoard of Treasuries and its currency. But using those weapons is not without cost.
The Trump administration will expand the number of countries it scrutinizes for currency manipulation in an upcoming report. Vietnam may be named a manipulator outright for artificially holding down the value of the dong.
Market participants warned about the UK’s departure from the European Union leading to the fragmentation of both trading liquidity and regulatory data.
The bulk of the increase will fund the relocation of three regional offices.
The Australian Securities and Investments Commission has written to the CEOs of major financial institutions asking them to explain their preparations for the end LIBOR and related transition plans.
A bond market as old as capitalism itself has emerged as the latest proving ground for cryptocurrencies. A unit of Societe Generale sold 100 million euros of covered bonds in the form of digital tokens with the French bank as the only buyer. The idea of the pilot issue conceived by what the bank called an internal startup was to test how the technology behind virtual currencies can be used to cut costs and speed settlement for the securities.
The turmoil surrounding Tether and Bitfinex, both of which are ensnared by allegations of wrongdoing, isn’t likely to subside, said Joseph Lubin, a co-founder of Ethereum and founder of crypto-related software company ConsenSys.
Bitfinex is giving potential investors a peek into just how lucrative it can be to operate a cryptocurrency exchange. The controversial digital asset trading platform disclosed in a so-called white paper that IFinex, the company’s closely held parent, had a net profit of $404 million last year.
Bitcoin may have fallen from grace in the eyes of investors, but blockchain’s bull run shows little sign of slowing down.
Kenan Altunis, who co-led Deutsche Bank’s institutional clients group until his departure in May 2018, is now running a new bank for fintech and cryptocurrency start-ups.
TraderTools is broadening its foreign exchange forwards and swaps offering so regional banks can white-label the products and increase market access to their customers.
ICAP Information, part of TP ICAP, the world’s largest interdealer broker, has launched two new data sets, covering EURO interest rate options and global inflation. By making this data commercially available for the first time TP ICAP aims to provide market participants with greater transparency in a traditionally opaque asset class.
Economists are increasingly saying the Federal Reserve’s cycle of interest rate increases is over – and that its next move will be a cut.
The British pound was little changed on Friday even after data showed the UK economy got a boost ahead of a Brexit that never came, with traders doubtful Prime Minister Theresa May can reach a deal with the opposition on how to leave the European Union.
The euro edged higher on Friday and is poised for a second consecutive week of gains on growing fears that any escalation in the trade conflict between the US and China would force US policymakers to cut interest rates.
Last year saw trouble for two heavy-hitters. First, Turkey’s lira fell sharply as a credit-fuelled construction bubble turned to bust, then Argentina’s peso collapsed amid excessive foreign debt and soaring inflation. While it may sound counterintuitive, any sensible EM investor will now be concentrating efforts on building exposure to these two countries. The question is which one to prefer.