Prosecutors Announce More Charges in JPMorgan Cyberattack

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Top Headlines

Prosecutors Announce More Charges in JPMorgan Cyberattack – NY Times Federal prosecutors in Manhattan on Tuesday announced additional criminal charges against three men accused of being part of a huge cyberattack against JPMorgan Chase, as well as other banks, brokers and financial information publishing companies.

Euro Slides to Six-Month Low Against Dollar – Wall Street Journal (subscription) Investors prepare for policy easing in eurozone, higher U.S. rates.

Negative Interest Rates the New Normal Next Time Economies Slump – Bloomberg The report from once-uncharted monetary territory: there’s little to be scared of.

Greek Debt Deal Would Encourage Mass Write-Off Calls in Spain, Claims Finance Minister – Daily Telegraph Euclid Tsakalotos claims lenders have delayed debt relief talks for fear of emboldening anti-austerity movements in the Mediterranean.

Portugal on Collision Course With EU as Centre-Right Government Falls After 11 Days – Daily Telegraph Leftist anti-austerity forces wait in the wings after bringing down shortest government in Portugal’s history.

 

 

Regulatory News

Ex-Deutsche Trader Wins Anonymity Dispute – Financial Times A former Deutsche Bank derivatives trader caught up in the interest-rate rigging scandal has won the right to put his side of the story to a court, after winning a preliminary legal battle against the regulator over “shaming but not naming” traders.

Hedge Funds Confront Impact of Financial Market Regulations and Challenges of Evolving Prime Broker Relationships – Hedgeweek Hedge fund managers are experiencing the ripple effects of new regulations on banks and prime brokers, with hedge funds facing increased trading fees and broader changes to business relationships.

 

 

Company News

Spot FX Volumes on Thomson Reuters Platforms Dip for Second Month – Reuters Daily spot trading volumes on foreign exchange platforms run by Thomson Reuters fell 4.5 percent in October from the previous month, the company said on Tuesday, as some of the recent volatility created by China’s yuan devaluation ebbed.

Deutsche Bank Close to Naming New Head of Fixed-Income and FX – Finance Magnates Deutsche Bank, Germany’s biggest lender, is planning to appoint Ram Nayak as global head of its fixed-income and foreign exchange trading division.

Deutsche Borse and Markit Co-Lead Illuminate Financial Management Venture Illuminate Financial Management has closed the first round of capital raising for its new IFM Fintech Opportunities Fund.

ICAP Agrees Terms With Tullett Prebon – Profit & Loss Icap has agreed terms with Tullett Prebon for the disposal of its global hybrid voice broking and information business. 

 

 

Market Savvy  

China Improves FX Statistics but GDP Data Still Flawed – Reuters China is making welcome efforts to improve its official foreign exchange statistics in a bid to win reserve status for its currency, but some big data flaws remain, particularly the embarrassing disparity between local and centrally reported GDP figures.

From Default to Darling: Argentina Bets Pay Off for Hedge Funds – Wall Street Journal (subscription) Firms that piled into Argentine assets ahead of presidential elections are being rewarded.

Thiam Sees Possibility of `Traumatic’ Event as Rates Increase – Bloomberg Credit Suisse Group AG Chief Executive Officer Tidjane Thiam said he sees the risk of a “traumatic event” in global markets once the current period of low interest rates comes to an end.

 

 

Press Releases

Abide Financial Applies to Become a Trade Repository – Profit & Loss Abide Financial, a global transaction reporting specialist, has applied to become a trade repository under EMIR (European Market Infrastructure Regulation), largely driven, it says, by client demand for a transparent end-to-end EMIR reporting solution.

Lucera, Perseus, Unveil SDN – Profit & Loss Lucera Financial Infrastructures and Perseus have partnered to create what they claim is the world’s largest on-demand Software Defined Network (SDN) for the capital markets industry.

 

 

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