Disorderly Brexit Will Be Worse Than Financial Crisis, Bank of England Warns – Financial News (subscription)
The Bank of England has warned that a “disorderly” crash-out Brexit could cause more damage to the UK economy than the globalfinancial crisis.
More Trading Will Be ‘Taken Over by Machines,’ Quant Chief Says – Bloomberg
Quantitative trading is on the march and machines are likely to handle a much greater share of dealing in assets in the years to come, diluting or replacing the role now played by human beings, according to Scott Kerson, head of systematic strategies at Gresham Investment Management.
EU Watchdogs Propose No-Deal Brexit Waivers for Derivatives – Reuters
The European Union’s three financial watchdogs have proposed a limited waiver from posting margins on uncleared derivatives transactions to minimize market disruption if Britain leaves the bloc next March without a deal.
- ESAs Propose to Amend Bilateral Margin Requirements to Assist Brexit Preparations for OTC Derivative Contracts – EU News
Get Ready for a Derivatives Trading Meltdown Next Autumn – Financial News (subscription)
The cost of derivatives trading in Europe is set for a financially crippling 10-fold increase under new regulation.
FIA Issues Updated CCP Risk Management Recommendations – Futures Industry Association
FIA has published a series of recommendations to improve clearinghouse risk management following recent market developments. The paper is an update to a 2015 series of recommendations.
‘Populist Thirst’ Is Outing More Bad Bankers, Citi Lawyer Says – Bloomberg
Regulators are increasingly penalizing individual bankers when investigating misconduct at their firms, according to senior lawyers at Citigroup and the Federal Reserve.
Primer: How Asia is Preparing for the End of Libor – International Financial Law Review
To ensure that rates in interlinked transactions are based on similar frameworks, there
Crypto and FX: More Alike Than We Think? – Profit & Loss
FX industry veteran and Profit & Loss 2012 Hall of Fame inductee, David Ogg, reflects on how the rapidly evolving crypto markets resemble the FX markets of the past.
10 Firms Join to Create Code of Conduct for Digital Asset Markets – Profit & Loss
Ten financial services and technology firms leading developments in the digital asset and blockchain space have joined together to create the Association for Digital Asset Markets to establish a Code of Conduct for emerging digital asset markets.
Mike Novogratz’s Crypto Trading Desk Lost $136 Million in Nine Months – Bloomberg
The bad year for traders at Mike Novogratz’s cryptocurrency merchant bank got even worse in the third quarter – and that was before the market fell out of bed this month.
Bitcoin and Digital Assets Are Here to Stay, Says NYSE Chairman, Despite Bear Market –CNBC
Jeff Sprecher, chairman of the New York Stock Exchange and CEO of its parent company, Intercontinental Exchange, said that despite headlines of cryptocurrencies flopping, digital assets have a future in regulated markets.
Corners of Wall Street Remain Undeterred By Crypto Crash – Financial Times (subscription)
Mainstream finance is experimenting with digital tokens despite bitcoin tumble.
LabCFTC Releases Smart Contracts Primer – Profit & Loss
The Commodity Futures Trading Commission’s LabCFTC has released, “A CFTC Primer on Smart Contracts”. The primer is part of LabCFTC’s effort to engage withinnovators and market participants on a range of fintech topics, and followson from a 2017 primer on virtual currencies.
P&L Talk Series with Nomura’s Ian Daniels – Profit & Loss
Ian Daniels, executive director, head of e-FX distribution, EMEA, at Nomura, talks about algorithmic trading trends in the FX market.
Morgan Stanley Invests $15 Million in Integral – FXWeek (subscription)
The cash injection enables Integral to pursue platform expansion across a broader set of currency participants.
Ex-Credit Suisse Trading Boss Named Head of World Gold Council – Financial News (subscription)
David Tait, the former global head of Credit Suisse’s macro trading business, is set to become chief executive of the World GoldCouncil early next year.
Deutsche Bank Mulls Shake-Up as Regulatory Frustrations Continue – Bloomberg
Germany’s largest lender is replacing senior executives in the US and is considering changing staff who tend its relationships with regulators. The moves come on the heels of strong cuts to the US operations andafter authorities in the country – and in Europe – expressed frustration withthe firm’s efforts to prevent financial crime.
Bloomberg Makes its Real-Time B-PIPE Data Feed Available on AWS – The Desk
Bloomberg’s flagship real-time market data feed, B-PIPE, has been made available on the cloud via Amazon Web Services, giving clients access to the same consolidated,
Sterling Slides as UK Brexit Vote Clouds Outlook – Reuters
The pound sank on Thursday amid concerns about the UK parliament’s vote on Brexit and after the Bank of England warned of risks to the currency if Britain leaves the European Union in a
Dollar Recovers as G20 Caution Sets In – Reuters
The dollar recovered against its rivals on Thursday as caution before a G20 meeting prompted investors to buy back the currency after comments by the Federal Reserve chief were seen as a sign that a rising trend in US rates may be coming to a close.
Yuan Faces a 10% Tumble With Trade War Set to Worsen, BNY Says – Bloomberg
The US and China trade war
Two of Asia’s Worst Currencies Set for Best Monthly Run in Years – Bloomberg
The Indian rupee and the Indonesian rupiah, two of the worst performers in Asia, are fast narrowing their losses, and policy makers have
Mnuchin Asked About Fed Option That Could Avoid Rate Hikes – Bloomberg
Treasury Secretary Steven Mnuchin privately asked bond dealers and investors in October whether they want the Federal Reserve to tighten monetary policy by raising interest rates or through faster cuts in its securities portfolio.