FXPA Webinar: “The CFTC’s SEF Reform Rule: Its Key Aspects and Prognosis” Tuesday,December 11th at 9-10am (ET) – FXPA
Justin Slaughter, former counsel to a CFTC Commissioner and current counsel to the Foreign Exchange Professionals Association (
Pound Traders Glued to Desks as Brexit Vote Meets Witching Hour – Bloomberg
Currency traders are taking no chances as the UK Parliament’s Brexit vote late Tuesday will come during thin liquidity heading into the market’s witching hour.
- Currency Traders Brace for More Brexit Volatility – Financial Times (subscription)
- Sterling Transitions into EM Territory – Financial Times (subscription)
- Sterling Nears Three-Month Low as Investors Prepare for Brexit Vote – Reuters
It’s Been a Tough Year for the FX Global Code (opinion) – Profit & Loss
In FX Global Code terms, a practice that it endorses (with the appropriate disclosures and intent, of course) was deemed worthy of a jail sentence by a US judge, while a case that surrounded
Building Out Spot Vs. Non-Spot FX Liquidity – Profit & Loss
Which is harder for a trading venue: building out a spot FX business or non-spot FX business? This is the question that was posed to Carlo Koezler, CEO of 360T and global head of FX at Deutsche Börse Group, in a video interview with Profit & Loss.
The Challenges of Managing Risk in Machine Driven Markets – Profit & Loss
The increasing automation of the FX markets is changing how firms manage their risk.
In the FICC of It (podcast) – Profit & Loss
The podcasters discuss the potential implications of Cboe’s agreement with UBS to help broaden the reach of its FX platform – and why Refinitiv might want to sit up and pay attention. They also discuss the multi-dealer platform world looking at how platforms can differentiate themselves. Are these firms really taking the single dealer model and deploying it in a multi-dealer landscape? Will this work? What are the USPs of a single and multi-dealer platform?
Goldman Subject of Whistleblower Complaint over Mifid II – Financial Times (subscription)
A whistleblower at Goldman Sachs has gone to the UK’s financial watchdog to allege that the Wall Street bank has improperly recorded trading data. The UK’s Financial Conduct Authority has been made aware of the allegations by the whistleblower and is now weighing whether to take the matter further.
Finance Groups Call for Legal Certainty on Post-Brexit Clearing – Financial News (subscription)
Isda, FIA, Afme and Icma are concerned that UK clearing houses will serve termination notices to EU members.
Don’t Let Brexit Mess with Your Client Relationships – Bloomberg
Amidst the current political uncertainty, financial institutions are already preparing to move thousands of contractual relationships impacted by the potential loss of
New CFTC Pursues New Priorities But Old Challenges Linger – WilmerHale
On August 28, 2018, the US Senate confirmed Dan Berkowitz (D) and Dawn Stump (R) as Commissioners of the US Commodity Futures Trading Commission. With the addition of these two Commissioners—and Chairman J.Christopher Giancarlo (R), Commissioner Brian Quintenz (R), and CommissionerRostin Behnam (D)—the CFTC once again has a full five-person complement after four years of persistent empty seats. But what will the new Commission accomplish?
Value of City Watchdog Fines Touches Near-Record Lows for 2018 – Financial Times (subscription)
Fines levied over 2018 stand at just £27.6m so far, compared with £229.5m last year.
Crypto Diehards Say Slump Is `Bump in the Road’ Before Growth – Bloomberg
The future of cryptocurrencies will entail greater regulation, more involvement by large institutions, lower volatility and greater integration with traditional assets.
As Bitcoin Trading Shifts Shape, Big Money Stays Away – Reuters
The retail investors behind bitcoin’s dizzying ascent to a record of nearly $20,000 last December have fled, leaving the early adopters and crypto-related firms that traditionally dominated digital coin trading driving exchange volumes.
Seed CX Partners with Deltix for Crypto Trading – Profit & Loss
Seed CX, an exchange for institutional trading and settlement of spot digital asset products, announces that
SIX Ponders Regulatory Route for Digital Exchange – Global Investor (subscription)
Valerio Roncone has also revealed the bourse spends CHF 1 million daily on innovation, excluding the crypto build-out.
Coinbase Continues to Explore Support for New Digital Assets – Coinbase
Coinbase is continuing to explore the addition of new
CLS Activity Flat on Year, Down on the Month – Profit & Loss
CLS says it handled settlement instructions to the notional value of $1.68 trillion in November, up very slightly from the $1.677 trillion in November 2017 and down from $1.71 trillion in October. This represents a 1.7% drop on a month-on-month basis and is largely in line with data reported earlier by various FX platforms.
FIA and FIA Tech Release Guidelines for the Simplified Execution Source Code – FIA
FIA together with affiliate FIA Tech, have released new technical guidelines for firms to properly identify the correct brokerage when executing and clearing
Euronext Global FICC Head Departs – The Trade
Paul Humphrey has decided to leave to pursue other opportunities after almost three years with Euronext. Chris Topple, currently CEO of Euronext London, will lead the FICC business in Humphrey’s absence.
CME Group Completes Eris Swap Futures Migration with 10 Trading Firms – The Trade
CME Group has completed the first trades of USD Eris interest rate swap futures following the migration of the derivatives to its exchange on 3 December, with ten firms actively trading.
Changes at the Top for Flow Traders – Profit & Loss
Flow Traders will propose to appoint Dennis Dijkstra as its sole CEO at the May 2019 AGM.
WM/Reuters Thai baht Benchmarks to be Sourced from Matching Clob – FX Week (subscription)
The WM/Reuters Thai baht spot FX benchmarks are to
Regis-TR’s UK Arm Nears Launch – Global Investor (subscription)
Trade repository has set up a local entity to ensure access to clients after Brexit.
Nasdaq/Cinnober Deadline Looms as CMA Consultation Closes – Global Investor (subscription)
The Competition and Markets Authority is reviewing concerns about Nasdaq’s bid for Cinnober.
Moexto Build Out Repo Benchmark Rate – Global Investor (subscription)
Rumble in the IM Jungle: How New Platforms Match Up – Risk.net (subscription)
After testing rival margin services, banks now have to pick a favourite – one has better tech, the other is cheaper.
Germany Willing to Merge Deutsche Bank, Commerzbank, Focus Says – Bloomberg
The German finance ministry is willing to “orchestrate” a merger between Deutsche Bank and Commerzbank.
Dollar Little Changed after Biggest Weekly Loss in Three Months – Reuters
The dollar consolidated losses on Monday after
JP Morgan Recommends ‘Hefty Arsenal of Hedges’ for In-Flux 2019 – Bloomberg
JP Morgan expects the Standard &Poor’s 500 to rise 18 percent by the end of 2019. That doesn’t
China’s Currency on Track for Biggest Fall in Two Months – Financial Times (subscription)
China’s renminbi started the week off on a poor footing, on track for its worst day in two months, after official inflation and export data disappointed.