Data from three primary FX venues has confirmed earlier releases from platforms indicating that while spot FX activity rebounded in May from a poor April, it remains lower around 20-25% lower year-on-year.
Clearing will become a cheaper alternative to prime brokerage for the majority of clients as uncleared margin rules begin to bite.
The Swiss competition authority, the Competition Commission, has become the latest jurisdiction to levy fines on six banks related to their dealers’ activity in several chat rooms.
US President Donald Trump said on Thursday he would decide whether to carry out his threat to hit Beijing with tariffs on at least $300 billion in Chinese goods after a meeting of leaders of the world’s largest economies late this month.
The chairman of the Commodity Futures Trading Commission (CFTC) has made a last-ditch effort to stamp his mark on cross-border clearing house supervision with new rules calling for greater regulatory deference for non-systemic third-country firms.
On Friday, May 31, the Federal Reserve Bank of New York set the secured overnight financing rate at 2.49% – 9 basis points above the previous day’s rate. But the real quirk was how they got it: a market survey of dealers, the very thing SOFR was created to avoid.
The Federal Reserve has publicly sanctioned a former Goldman Sachs risk modeling specialist who brought home confidential documents, in a case with echoes of a similar infraction in 2016 that resulted in a $36.3m fine for Goldman.
Draft plans from the European Securities and Markets Authority (Esma) on designating non-European central counterparties as subject to enhanced supervision – so-called tier two CCPs – are too vague, an executive director at JP Morgan has complained.
A new $100 million investment firm, Darma Capital, is opening to investors who want to bet that digital assets such as Ether are poised for a 10-year bull run.
Just before 3 p.m. Chicago time on Wednesday June 19, a bit of Bitcoin fanfare will die. That’s the moment the last Bitcoin futures contract on Cboe Global Markets will settle, with no more to follow.
Edgewater Markets, the NFA-registered non-bank foreign exchange liquidity provider has launched a new company – Edgewater Digital Technologies. Edgewater Digital will be launching a digital asset trading platform for institutional investors, Crypto Prime Trader, in the future once it secures regulatory approval.
Despite the industry focus on market data fees and access fee pilots, global exchange operator and technology provider Nasdaq plans to take a three-prong approach to expand its relationship with the buy side, according to Adena Friedman, president and CEO of Nasdaq.
Singapore Exchange aims to add products to its lucrative derivatives business and offer Southeast Asian unicorns a platform to list shares and bonds, in a multi-asset strategy aimed at sustaining growth, its chief executive said.
Spotex, a developer of FX technology systems and ECN, has hired Kevin Gillespie as director of institutional sales.
Mosaic Smart Data, a capital markets-focused data analytics company, has appointed Oxford University professor of mathematical finance, Rama Cont, as scientific advisor.
The dollar was headed on Friday for its worst week since December, before a US jobs report that investors expect to bolster the case for a Federal Reserve interest rate cut.
South Africa’s rand was on track for its worst week in eight months as a sharp slowdown in economic growth and concerns over the independence of its central bank weighed on the currency.
Has Mario Draghi lost his touch? Has he been replaced by a cunning body double? The European Central Bank president is the master of sprinkling dovish magic dust over otherwise broadly neutral policy decisions.