Top Headlines

Some Euro Zone Banks Don’t Comply with Governance Standards: ECB’s Lautenschlaeger – Reuters The European Central Bank has found that a number of banks under its watch do not comply with international governance best practices an ECB executive board member said on Monday.&amp

Swiss Investigate Seven Banks Over Precious Metals Market Trading – Wall Street Journal (subscription) Competition authorities in Switzerland said Monday that they are investigating seven big banks over the possible manipulation of the prices of gold, silver and other precious metals.

Finance Industry Readies EU Regulatory Hit List – Financial News (subscription) The financial sector is drawing up a list of European Union regulations it wants abolished or changed following a “very welcome” plan by the European Commission to review rules brought in since the financial crisis.

China’s Renminbi Creeps Closer to Global Reserve Status – FT.Com (subscription) The IMF is creeping closer to including China’s currency in an elite basket of reserve currencies.

Bank of England Orders New Probe into Automated Dealing in Wake of August Market Turmoil – International Business Times The Bank of England has ordered a new investigation into the risks of black-box trading in the wake of August’s “Shanghai Shock” market turmoil, which featured sharp swings in global asset prices.

Catalan Separatism Refuses to Die as Mas Claims 48% Mandate – Bloomberg Even before Sunday’s electoral setback, the Catalan president had ruptured his party in his bid to secede from Spain.



Regulatory News

ICE Trade Vault Gets FX and Interest Rate Nod – Profit & Loss The US Commodity Futures Trading Commission (CFTC) has issued an order regarding ICE Trade Vault, a provisionally registered swap data repository that adds the interest rate and foreign exchange asset classes to those that ICE Trade Vault, intends to serve as a swap data repository.

FSB Publishes Update on Market Reform Plan – Profit & Loss Following its meeting held in London last week, the Financial Stability Board (FSB) has issued an update to its ongoing plan to reform financial markets.

MIFID II: It’s Coming. Will You be Ready? – TabbForum With less than 18 months until MiFID II takes effect in Europe, the industry needs to come to grips with its reporting and trading requirements if it is to be fully compliant by 2017.



Company News

CME, CFETS, Ink Cooperation Deal – Profit & Loss CME Group and the China Foreign Exchange Trading System (CFETS) have signed an agreement on cooperation to “explore opportunities and promote each other’s market infrastructure and products”.

Parker Index Rises in August – Profit & Loss The Parker FX Index rose 0.4% in August, for a year-to-date return of 2.39%.

State Street Experiments with Blockchain for Institutional Banking – Wall Street Journal (subscription) State Street Corp. has launched a handful of experiments with blockchain, the technology that underpins bitcoin digital currency, to see how it can be used for institutional banking, as well as for processing and monitoring loans, mortgages and other financial products.



Market Savvy  

Europe Stocks Drop as China Industrial Data Renews Growth Fears – Bloomberg The optimism that sent European stocks rallying on Friday was short-lived. Growth concerns resurfaced after Chinese industrial companies reported profits fell the most in at least four years.

BOE to Hold Fire Until Mid-2016 Amid China Slowdown, CEBR Says – Bloomberg The Bank of England will keep interest rates at a record low until the middle of 2016 as the slowdown in China and emerging markets casts a shadow over the U.K. economy, a think tank said.

Expectations of 2015 Fed Rate Hike Nudge Dollar Higher – Reuters The dollar edged back towards a five-week high against a basket of major currencies on Monday, as investors eyed U.S. payrolls numbers and Chinese data later in the week.

Emerging Markets Go From Bad to Worse – Wall Street Journal (subscription) A gauge of emerging-market currencies has fallen to its lowest level in six years.



Press Releases

SGX Welcomes Marex Financial Limited as Derivatives Trading Member



Industry Events

·                   SEFCON VI, 26 October in New York, NY

·                   Forex Magnates’ London Summit, 2-3 November in London, UK

·                   FIA Expo 2015, 3-5 November, in Chicago, IL

·                   Profit & Loss Shanghai, 12 November in Shanghai, China

·                   Profit & Loss Singapore, 19 November in Singapore

·                   11th Annual FIA Asia Derivatives Conference, 8-10 December in Singapore