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.