The European Union said banks and other traders in the bloc can use US platforms to comply with MiFID II restrictions on derivatives, as policy makers moved to prevent a rupture in the $542 trillion global market less than a month before the EU law kicks in.
The dollar edged broadly lower in a quiet market as concerns about a possible US government shutdown offset optimism about progress on tax reform legislation.
Steady weakening of US currency seen as euro area recovers.
Sterling edged towards an eight-day low as growing uncertainty over the progress on Brexit negotiations weighed on the British currency with some investors unwinding long positions after a recent rally.
Sterling investors remain hesitant about chasing the rallying pound higher even as the British government said it was close to an agreement with the European Union on how to move Brexit talks onto trade next year.
The surge in emerging-market stocks this year is putting the asset class within spitting distance of finally catching up with the rally in developing-nation currencies.
As the UK races the clock to save Brexit talks, Chancellor of the Exchequer Philip Hammond tried to reassure the world of finance about his government’s aim to preserve London as a world-leading financial center.
The owner of the New York Stock Exchange is taking a wait-and-see approach to bitcoin, even as two of his main competitors prepare for the launch of futures markets based on the fast-rising cryptocurrency.
Among the many mysteries at the heart of the cryptocurrency market are these: Does $814 million of a digital token known as tether really exist?
Micah Green, a partner at Steptoe and Johnson, addresses the future of Swap Execution Facilities (SEFs) now that Christopher Giancarlo is the chairman of the US Commodity Futures Trading Commission.
The US National Futures Association (NFA) has submitted a letter to the Commodity Futures Trading Commission updating its proposed rules for the disclosure of FX trading costs to customers.
A Deloitte survey of a dozen buy-side firms with a total of more than $6 trillion in assets under management showed that the law will lead to a decline in private, over-the-counter, trading in many common contracts.
Norwegian firms, part of the single market through the EEA Agreement, will conform to EU rules.
Kim Taylor will retire at the end of the year after working at CME Group for more than 28 years.
LCH says it has cleared a total of $745 million of G10 FX NDF currency pairs less than one month after the products went live on its ForexClear service.
Thomson Reuters has expanded its Connected Risk platform to include a Model Risk Management (MRM) solution, allowing institutions to demonstrate a real-time understanding of their model risk landscape, with the ability to report on the model’s governance status, sign-offs and related issues from a single platform source.
Profit & Loss understands that Josh O’Byrne has joined hedge fund Millennium Management in a macro strategy role.
The game of musical chairs between Goldman Sachs and Deutsche Bank continues – and this time Goldman has done the poaching. It’s continued its recent habit of parachuting in senior sales staff to revive its fixed income business and has just hired Robert Wade, the former global of electronic FX sales at Deutsche Bank.
JPMorgan CFO Lake says low volatility continues to sap revenue.
The Australian dollar weakened after figures showed the country’s economy grew at a slower pace than forecast in the third quarter and consumer spending came up short.
South Africa just got good news in triplicate. Yet the rand, the world’s most volatile currency, barely budged.
The Canadian dollar pulled back from a six-week high against its broadly firmer US counterpart, as investors weighed a rebound in the country’s exports before turning attention to a Bank of Canada interest rate decision on Wednesday.