Top Headlines

Platform Volumes Continue to Decline – Profit & Loss Volumes at most FX platform providers declined again in October, with only Fastmatch showing an increase.

Jury Delivers First US Libor Manipulation Convictions – Wall Street Journal (subscription) Jury finds traders manipulated benchmark interest rate for their own benefit.

BIS Data Highlights Success of Trade Compression – Profit & Loss The latest Bank for International Settlements semi-annual survey of OTC derivatives markets provides further evidence that trade compression is successfully reducing exposures in markets

PBOC Seen Tightening Grip on Yuan Rates Gap as IMF Review Looms – Bloomberg China shows signs of becoming less tolerant of divergence between its onshore and offshore exchange rates in the run-up to a decision on whether the yuan will be added to the IMF’s basket of reserve currencies.

Mark Carney: Prudent to Expect UK Rate Rise in 2016 – Bloomberg Mark Carney says Britons should be ready for a rate increase in 2016.

Blockchain Potential for Markets Grabs Exchange CEOs’ Attention – Bloomberg Executives in the $30 trillion futures industry would like to send a message to the blockchain community: we get it.

Are IDBs Obsolete? – TABBForum Many market structure pundits claim the interdealer-broker model is becoming obsolete with electronification of fixed income.



Regulatory News

LatAm Central Banks: Monetary Policymakers Need Fiscal Friends – Euromoney Central bankers in Latin America stress policy limits; macro-prudential tools out of favour.

RBI Allows Residents to Conduct FX Swaps with Multilateral Bodies – Economic Times  The Reserve Bank of India (RBI) has allowed domestic entities to conduct foreign currency-rupee swaps with multilateral agencies and allow hedging of loans.

MiFID II Transforms Market for Research – Euromoney Unbundling here to stay; research goes on exchange.



Company News

Icap, Tullett Voice Businesses to Merge? – Profit & Loss Icap and Tullett Prebon are believed to be in advanced talks to merge their voice broking businesses.

Why Barclays May Want to Mull a Move to the US – New York Times HSBC has caused a scene by suggesting it might move its headquarters from London. But it is rival Barclays that really ought to consider a domicile switch.



Market Savvy  

Norway SWF Says Adding $86 Billion in Properties May Be Best – Bloomberg The world’s biggest wealth fund says the optimal level of property investments may mean putting another $86 billion into real estate, singling out Asia as a hot-spot for growth.

Norwegian Krone Gains After Central Bank Meeting – Wall Street Journal (subscription) Norges Bank signals it would keep rates unchanged through the end of the year.



Press Releases

EBA Announces Details of 2016 EU-Wide Stress Test – EBA The EBA has published its 2016 EU-wide stress test draft methodology for discussion. The stress test will be formally launched in the first quarter of 2016 and will cover over 70% of the EU banking sector.



Industry Events