LCH UK, which operates the London-based derivatives clearing house for interest rate swaps, has let its EU members know that they could be given just three months to move £38tn in notional value of swaps contracts to other venues.
- EU Clients Face Axe from UK CCPs – net (subscription)
- European Banks Need London Clearing for Brexit Risks, ESMA Says – Bloomberg
- EU Regulator Calls for Access to UK Deal Insurers in Event of Hard Brexit – City A.M.
- FIA Welcomes Maijoor’s Comments on Post-Brexit Access – Global Investor (subscription)
An expert witness for three former UK currency traders accused of price rigging will not testify as to whether a conspiracy existed in the case, or share his view on whether the men’s behaviour was inconsistent with the alleged crime, court documents show.
A New York federal judge trimmed Thursday a proposed class action accusing 20 banks and their affiliates of manipulating the Singapore Interbank Offered Rate and Singapore Swap Offer Rate.
Sharp declines last month in the price of US government debt triggered a large increase in fixed income trading volumes, according to new data that highlight the vigour of the recent sell-off in the bond market.
Ireland’s central bank has seen a surge in financial services firms seeking to set up or extend their operations in Ireland as a result of Brexit and is processing over 100 applications, its governor Philip Lane said on Thursday.
The International Swaps and Derivatives Association (ISDA) has released a white paper on smart derivatives contracts, setting out a framework for how these could be built and function in scenarios such as defaults.
National banking watchdogs still have too much discretion in implementing European law and “more needs to be done” to complete a harmonised financial services rulebook across the eurozone, according to the head of the monetary union’s Single Supervisory Mechanism.
The US Commodity Futures Trading Commission (CFTC) and the Australian Securities and Investments Commission (ASIC) have signed an arrangement to cooperate and support innovation through each other’s financial technology initiatives – CFTC’s LabCFTC and ASIC’s Innovation Hub.
Coinbase, one of the largest US cryptocurrency exchanges, said Adam White, head of the institutional platform group and its fifth employee, is leaving the company.
In the battle among Western Europe’s crypto-haven wannabees to win fresh investment, Gibraltar looks to be losing out to Malta due to its uncertain relationship with the European Union.
Derivatives regulator CFTC has posted a rise in fines in fiscal 2018; SEC is to release figures later this year.
High-speed trading firm Virtu Financial is seeking to acquire independent brokerage Investment Technology Group as pressure mounts for proprietary traders to branch out.
The founder and chief executive of Tradeweb, one of the largest electronic bond-trading platforms, has stoked speculation about consolidation and mergers in the sector by refusing to rule out a tie-up with a leading rival.
Cloud-based eFX platform company Integral has made its second significant hire in as many months, adding Lars Olesen as the company’s new Head of EMEA.
Nomura is in advanced talks with regulators about using Paris as its post-Brexit European lending hub, in another boost to the French capital’s bid to become the continent’s pre-eminent banking centre.
The dollar edged toward a six-week high on Friday before monthly US jobs data that investors hope will shed light on how much longer the Fed’s aggressive rate-hiking cycle will continue.
Sterling touched a two-month high versus the euro and gained against the dollar on Friday after the European Union’s Brexit negotiators said they believed a divorce deal with Britain was “very close”.
The Reserve Bank of India has surprised markets by opting not to raise its benchmark interest rate, a decision that sent the rupee tumbling to a new all-time low of Rs74 to the dollar.