The Federal Reserve Bank of New York has formally imposed a $1.2 million fine and a permanent ban on employment in the banking industry against former Barclays trader Chris Ashton, the former global head of FX spot trading at the bank.
Following similar settlements from the big four Australian banks, Macquarie Bank has also accepted an enforceable undertaking (EU) from the Australian Securities Investment Commission (ASIC) in relation to the bank’s FX businesses.
The dollar gained as stocks and Treasury yields rose after investors judged the recent selloff on US political turmoil may be excessive given the backdrop of economic resilience and a potential rate increase.
US currency wipes out all gains since November election after sacking of FBI director.
The pound fell below $1.30 after the UK hardened its Brexit rhetoric and polls predicted a narrower-than-expected win for Prime Minister Theresa May in June elections.
European shares, the euro and the pound all stumbled as rumblings in Spain, Britain and Brussels reminded investors that the region still has plenty of political uncertainty left in the tank.
May 25 marks the release of the full FX Global Code of Conduct, an event that has been much anticipated in FX circles.
People who talk about “unique liquidity” are deluding themselves and trying to dupe us by claiming their market makers stream only to them.
Technological developments present new challenges to both financial services firms and their staff, warned John Ashworth, CEO of Caplin Systems, at Forex Network London.
As US officials and bank executives scrambled to save the global financial system after Lehman Brothers’s bankruptcy in the fall of 2008, Citigroup traders were doing what traders always try to do.
Treasury Secretary Steven Mnuchin’s efforts to fill out the top ranks of the department were dealt a setback as a Goldman Sachs Group banker withdrew from consideration to serve as his deputy.
Angela Merkel and Wolfgang Schaeuble want to install a German at the head of the European Central Bank when Mario Draghi’s term expires in 2½ years, according to Spiegel magazine.
Bank of England Governor Mark Carney met with Gary Cohn, the chief economic advisor to President Donald Trump, at the White House on Friday, the bank said.
EU regulators will seek to pull business across the Channel unless challenged.
Japan tightened regulations on high-frequency trading (HFT), passing into law measures that will require HFT firms to register with regulators.
Last year, the Federal Register – the US government’s depository of rules and regulations – hit an all-time high of 81,640 pages.
Russell Lascala and Jon Tinker have been named as co-heads of FX at Deutsche Bank, reporting to Sam Wisnia, head of rates, who is now running an newly aligned rates and FX business.
CLS Group has named nine new directors to its board bringing the total to 23, of whom, five are outside directors.
CME Europe will end trading of its FX and energy derivatives at the end of August, following the announcement it will shut down the London-based exchange by the end of this year.
One important element to its launch of outright deliverable FX forwards is it enables prime brokerage clients to enter a price into the platform and remain passive on the order book, a capability that no other platform currently offers.
DTCC whitepaper claims financial services firms that shun cloud are at heightened risk of running into resiliency, security and performance issues.
Securities and Exchange Commission says bitcoin ETF proposal would be the first of its kind approved in the United States.
Most Asian currencies edged higher, supported by a slight return in risk appetite though investors remained wary of the ongoing political turmoil in Washington.
Analysts at emerging-market specialists Renaissance Capital had practically given up hope of an interest rate rise from the Central Bank of Egypt after predicting one earlier in the year.