The Greece Crisis: A Game with No Winners – Profit & Loss (free story)
Economists agree that although a Greek default and potential exit from the Eurozone will have less of an impact on FX markets than three years ago, it will still have significant implications.
CFTC Targets Banks Moving Swaps Business Overseas – Profit & Loss (free story)
The US Commodity Futures Trading Commission (CFTC) has proposed a new rule regarding the margin requirements for uncleared swaps that will prevent US banks shifting business overseas in an attempt to avoid swaps regulation.
Buy Side Facing Up to the Derivatives Challenge – The Trade
The buy-side share of the derivatives business has grown to record levels over the last decade, as they use derivatives in significant volumes to hedge risks or tap hard-to-access investments. But will this work be curtailed due to the clutch of new market regulations on the horizon?
MAS to Adopt New Regulatory Approach to Boost Financial Technology System – ChannelNews Asia
With the rising wave of new financial technology, the Monetary Authority of Singapore plans to adopt new regulations and initiatives to grow a conducive ecosystem for innovation.
Libor Trial Hears of Lead-Up to Hayes’s Dismissal from Citi – Operational Risk & Regulation
In the weeks after he joined Citigroup’s Tokyo swaps desk, Tom Hayes enlisted Hayato Hoshino, a yen swaps trader based in London, to “become friendly” with the bank’s treasury desk and “casually” request London interbank offered rate (Libor) fixes, London’s Southwark Crown Court heard today (June 29).
Banks and Exchanges Turn to Blockchain – Financial Times (subscription)
The blockchain – the technology that underpins bitcoin – has been called “the future for financial services infrastructure”. Now banks, clearing houses and exchanges are becoming increasingly excited at the prospect of blockchain fundamentally transforming their business models.