Stimpson Alleges Conduct Breaches by Citi Managers – Profit & Loss The unfair dismissal tribunal of former Citi FX trader Perry Stimpson took a dramatic turn on Wednesday when he claimed former senior managers of Citi’s FX business committed “serious breaches of conduct”.

China Opens Onshore Currency Market to Foreign Central Banks – Bloomberg China will open its domestic foreign-exchange market to overseas central banks, making it easier for other nations to hold yuan assets.

China Deflation Risks Grow, Foreign Central Banks on Alert – Reuters The risk China’s economy enters deflation is growing, data suggested on Wednesday, as signs emerge that some foreign central banks are increasingly worried about the impact falling Chinese prices and a weaker yuan could have on their economies.

CFTC Launches New Tool to Help Prevent Illegal Trading – Profit & Loss The Commodity Futures Trading Commission (CFTC) has launched a new tool called “RED List” to help investors identify unregistered foreign entities that may be engaged in illegal practices.

Brazil Downgraded to Junk Rating by S&P, Deepening Woes – Reuters Standard & Poor’s downgraded Brazil’s credit rating to junk grade on Wednesday, further hampering President Dilma Rousseff’s efforts to regain investors’ trust.

Bitcoin’s Shared Ledger Technology – Forbes Money’s New Operating System.

Capital Markets’ Blockchain Bill to Hit $400m in 2019 – Financial News (subscription) Banks and other firms operating in the capital markets will spend $400 million a year on developing the blockchain by 2019.

Capital Markets Firms Turn to Vendors for Help Building Data and Analytics Capabilities – TABB Forum Though financial services firms traditionally have sought to keep data management technologies in-house as a competitive advantage, the costs associated with internal development are increasing the appeal of utilizing off-the-shelf vendor solutions.



Regulatory News

NY Banking Regulator Joins Probe of US Treasuries Trading – Bloomberg A New York regulator has joined a federal probe of banks that serve as primary dealers in the $12.8 trillion US Treasuries market in an effort to determine whether traders colluded.

Foreign Exchange Working Group Targets May 2016 for Update – Profit & Loss The Foreign Exchange Working Group (FXWG) says that it expects to release a substantial amount of information on the new global code of conduct by May 2016.

Justice Department Sets Sights on Wall Street Executives – New York Times Stung by years of criticism that it has coddled Wall Street criminals, the Justice Department issued new policies on Wednesday that prioritize the prosecution of individual employees.

HK Securities Watchdog Probes Brokers, Hedge Funds over China Investment Products – Reuters The Hong Kong securities watchdog is investigating whether brokers and hedge funds in the financial centre violated their operating licences in creating and trading China investment products.



Company News

Deutsche Börse Shelves Singapore Derivatives Launch – FT.Com Deutsche Börse, Europe’s largest exchanges operator, is postponing the launch of its Singapore-based derivatives exchange for at least a year amid concerns about its technology and market turbulence in China.



Market Savvy  

Global Stocks Fall on U.S. Interest Rate Uncertainty – Wall Street Journal (subscription) Markets remain nervous about the timing for the U.S.’s first rate increase in almost a decade.

Hedge-Fund Bets Against Emerging-Market Currencies Get Crowded – Bloomberg Hedge funds are piling into bets that the dollar will gain against emerging-market currencies, especially those vulnerable to falling commodity prices.



Press Releases

First Derivatives Announces Formation of FD Labs FD, a leading provider of software and consulting services, announces the formation of FD Labs, its new R&D division based in Ottawa, Canada.   TriOptima and LCH.Clearnet  Expand Compression for Unlinked, Cleared Interest Rate Swaps TriOptima and LCH.Clearnet  expand compression for unlinked, cleared interest rate swaps eliminating 30% of NZD (New Zealand Dollar) notional outstanding in first SwapClear NZD cycle



Industry Events