JP Morgan is shuffling roles within its corporate and investment bank in a shift that streamlines the company’s trading and treasury operations. In the biggest change, the bank elevated Troy Rohrbaugh to head of global markets, where he’ll oversee all of fixed income and equity trading.
Dismay, confusion, relief – and hope. As money managers, traders, bankers, and lawyers girded for the prospect of leaving the bloc on March 29 with no deal, they commiserated with rattled clients and pushed ahead on contingency plans they had hoped would never be needed.
Currency trading was one of the few bright spots for CTA performance last year, according to new data from BarclayHedge, now a division of Backstop Solutions.
Bankers like to warn about “unintended consequences” whenever regulators come up with a new rule that could make them poorer. So it was with Mifid II, an EU-wide law that, among other things, made banks charge investors for the research they provide, rather than bundling the cost into commissions for trading.
Financial market rules forcing trade venues to publish data are failing to improve best execution for investors, say users, amid complaints that the information is hard to collect and compare because it is provided in multiple formats.
Electronic trading volumes in fixed income have jumped since the introduction of European rules a year ago, research by Greenwich Associates has found, the latest sign that tough legislation is upending the way market participants trade.
The US government shutdown over President Donald Trump’s call for Congress to fund a wall he promised to build on the U.S.- Mexican border is threatening another campaign pledge to make rules easier to navigate for banks and corporations.
Months away from the UK’s departure from the EU, much of the industry is still in the dark over operational requirements post-Brexit, and time is running out.
The benchmark being eyed as a potential replacement for dollar Liborr is facing renewed scrutiny after a year-end surge in the market underpinning the new rate. With more volatility possible, Wall Street is increasingly wondering if the nascent Secured Overnight Financing Rate (SOFR) will be up to the task.
The boring tag has come into focus since the UK’s vote in 2016 to leave the EU. Where might thousands of bankers and their families restart their lives if they have to leave London?
Christian Noyer, the former governor of the Bank of France, is the latest big name in financial services to join the board of Setl, the UK blockchain technology group.
When a recruiter approached Christine Sandler in late-2017 about coming out of retirement for an opening at Coinbase, he warned her it was “a little out there.”
BitGo, a provider of cryptocurrency financial services, has partnered with Genesis Global Trading, an OTC digital currency trading firm, to provide clients with the ability to trade digital assets directly from BitGo custody.
David Lyons has joined FastMatch as head of product and business development, reporting to CEO Kevin Wolf.
TriOptima has launched triCalculate IM Analytics, a new tool to provide insight into the options for initial margin calculation, helps with the identification and prioritisation of in-scope counterparties and aids trading decisions to reduce future IM costs.
US regulators have taken a greater interest over the last year in technology startups promising to reinvent finance. This newfound attention is compelling the biggest names in fintech to prioritize a part of their business that’s often ignored.
Societe Generale is considering closing its proprietary-trading unit, people familiar with the matter said, a week after French rival BNP Paribas decided to shut its operation.
Morgan Stanley’s fixed income traders succumbed to the same downturn that afflicted the rest of Wall Street in the fourth quarter, posting their worst results in three years and sending the shares tumbling.
Last year was very busy for mergers and acquisitions of financial technology providers and 2019 is set to maintain the same pace according to consultancy Aite Group.
Bloomberg has struck a deal with the China Foreign Exchange Trade System (CFETS) to become the first trading platform to offer access to both of the China’s interbank bond market (CIBM) Direct and Bond Connect schemes.
The pound weakened on Friday after stellar gains this week that set the currency up for its biggest weekly gain against the euro since September 2017 on growing confidence that a no-deal Brexit can be avoided.
The dollar steadied on Friday but was set for its first weekly rise in five weeks as doubts grew on the ability of other major global central banks such as the European Central Bank to start raising interest rates this year.
Turkish lira traders have plenty of risks to navigate over the next few months but the prospect of a central bank misstep before municipal elections in March may no longer be one of them.