Top Headlines

Market Prepares for Fed Hike – Profit & Loss With a tighter Fed policy looking even more likely after a strong employment report on Friday reinforced comments from Fed Chair Janet Yellen on Wednesday, analysts are looking at the likely reaction of the dollar to what is seen in many circles as the end of an unprecedented “easy money” era.

•  Asia Shares Mixed, Dollar Strong After US Jobs Data Boosts Case for Fed Hike – Reuters
•  Here’s Who Is, and Isn’t, Changing Their Timeline for the First Fed Hike – Bloomberg

Eurozone Finance Ministers Won’t Release $2.15 billion Loan to Greece – Wall Street Journal (subscription) Disagreements over new foreclosure rules continue, two European officials say.

UK May Have to Reconsider EU Membership, David Cameron Set to Say – Wall Street Journal (subscription) UK leader due to set out what changes the country wants with its relationship with the EU.

• Dutch Premier Says UK Exit From EU Would be ‘Killer’ for London – Bloomberg

Big Data Is Not Ready for the Capital Markets – TABBForum With siloed legacy systems entrenched across the industry, information management remains one of the biggest challenges for both business and IT managers in the capital markets.

Blockchain Has Potential to Revolutionise Capital Markets – Profit & Loss Tabb Group has become the latest firm to issue a reporting highlighting the potential for adoption of blockchain technology in financial services.

Regulatory News

Buy Side Calls for Greater Transparency of CCP Risks – Profit & Loss Buy side firms want more transparency with regards to the risk profiles of central counterparties (CCPs), according to representatives at a meeting hosted by the Commodity Futures Trading Commission (CFTC) last week.

G20 Finalizes Tools for Ending ‘Too Big to Fail’ banks – Reuters Global regulators set out their “final tools” on Monday for ending the phenomenon of “too big to fail” banks, seeking to draw a line under a period of intensive rule making after a financial crisis that tarnished the sector and weighed heavily on taxpayers.

CFTC Reaches Record $3.14bn in Civil Monetary Penalties – Profit & Loss The US Commodity Futures Trading Commission (CFTC) last week released the agency’s enforcement results for fiscal year (FY) 2015, which included a record $3.14 billion in civil monetary penalties.

Law Firm Seeks to Build Another Class Action Suit in FX – Profit & Loss In spite of settlement papers being submitted to a US court by a group of banks to settle charges of manipulation of FX rates, US law firms continue to circle the market.

Company News

Hedge-Fund Prodigy Takes a $300 Million Hit – Wall Street Journal (sunscription) Star money manager Nehal Chopra’s Tiger Ratan Capital Fund LP has fallen 33% in three months.

Goldman’s BRIC Era Ends as Fund Folds After Years of Losses – Bloomberg The BRIC era is coming to an end at Goldman Sachs Group.

UniCredit May Cut Jobs, Sell Assets as Part of Revised Strategic Plan – Wall Street Journal (subscription) Italy’s biggest bank by assets to unveil revised strategic plan Wednesday.

Market Savvy  

Dollar Bulls are Vulnerable as Currency’s Strength May Cap Rates – Bloomberg Dollar bulls have reason to be wary of the currency’s Friday rally on stronger-than-forecast U.S. labor data.

Challenges and Strains Await for China’s 2020 Growth Vision – South China  Morning Post China’s target of 6.5 per cent annualised economic expansion over the next five years will no doubt be reached, but there is much work to be done.

The Yuan and The SDR – The Economist The IMF debates whether to include China’s currency in its reserves.

China Gets Its Own Crude Contract – Bloomberg The world’s top oil importer wants traders to flock to yuan-based futures.

Press Releases

Emerging Market Slowdown and Drop in Trade Clouding Global Outlook – OECD A further sharp downturn in emerging market economies and world trade has weakened global growth to around 2.9% this year – well below the long-run average.

Thomson Reuters Integrates FX Platforms Into One Desktop – Profit & Loss Thomson Reuters has consolidated access to all of its different FX trading venues into a single desktop.

Bank Usage of Blockchain Applications Poised to Grow – Profit & Loss A new report from consulting firm GreySpark Partners, examines how a large number of investment banks and exchanges are experimenting with usage of the blockchain and distributed ledger technology (DLT) in 2015.

Industry Events

Profit & Loss Shanghai, 12 November in Shanghai, China

Profit & Loss Singapore, 19 November in Singapore

11th Annual FIA Asia Derivatives Conference, 8-10 December in Singapore