Top Headlines

Thomson Reuters Sees Sterling Volumes Boost from Flash Crash – Profit & Loss

Thomson Reuters says its sterling volumes trebled on October 7, the day of the Cable flash crash which saw the pair drop from above 1.25 to blow 1.15 before recovering to 1.24.

Thomson Reuters Launches Faster Matching Data Feed – Profit & Loss

Thomson Reuters Matching is to become the latest platform to increase the frequency of its market data updates.

Dollar Falls Off Seven-Month Highs as Bond Sell-Off Stalls – Reuters

The dollar eased back from a seven-month high against a basket of major currencies, following US Treasury yields lower as a sell-off in global bond markets took a pause for breath.

Yuan’s Swift Fall Fans Currency Tensions – Nikkei Asian Review (subscription)

The yuan is becoming a destabilizing factor in the foreign exchange market amid renewed speculation that China’s authorities would tolerate a weaker currency to support the economy.

US Sees Japan Closer to ‘Currency Manipulator’ Tag Than China – Nikkei Asian Review

The US appears to view Japan as a bigger currency manipulator than China despite the yen’s strength and the yuan’s weakness against the dollar over the past year, suggesting that Tokyo’s hands will remain tied in currency markets for now.

CBOE Commits to Vector Ahead of Bats Deal – FOW (subscription)

CBOE Holdings has said it plans to forge ahead with its own technology project until the US options market merges with Bats Global Markets which will trigger CBOE moving its trading markets to Bats technology.

Big Winner From London’s Brexit Exodus Isn’t Even in Europe – Bloomberg

The ultimate winner if Brexit forces banks to flee London may lie 3,500 miles away, far beyond the borders of Europe.

The EU’s Common Currency Is Not So Common – Seeking Alpha

It is unquestionable that Brexit weakened the EU to the core.

Rand Traders Are Learning the Hard Way – IoL

The wheels are coming off the rally in the South African rand.

Regulatory News

Banks May be Unable to Meet ‘Fast-Tracked’ EU Margin Rules – The Trade

Banks may struggle to update their collateral systems if the EU fast-tracks implementation of the initial margin rules.

‘Flash Crash’ Audit Trail on Track for Late 2017 – Reuters

An audit trail prompted by the 2010 “Flash Crash” that would help US regulators better police Wall Street trading activity in stock and options markets should be up and running by the end of 2017, a top regulatory official said.

Nigeria Naira Ends at 305 After Central Bank Dollar Sales – Reuters

Nigeria’s central bank intervened with dollar sales to support the naira, which ended at 305.50 per dollar, a range it has closed at for nearly two months, traders said.

Company News

Colt Expands North American Footprint – Profit & Loss

Colt is expanding the Colt PrizmNet financial extranet in North America to include a range of US and Canadian financial content providers, FX venues and technology providers, including Hotspot, Nasdaq and Omega ATS.

BNP Paribas Choses Fidessa for Derivatives Trading – The Trade

BNP Paribas has chosen Fidessa’s execution platform to support its listed derivatives trading operations globally.

Market Savvy

Stocks Rally With Commodities as Fed Speculation Weakens Dollar – Bloomberg

Stocks rallied around the world, commodities jumped and the dollar sank on speculation that a pick-up in the global inflation outlook won’t tempt the Federal Reserve to quicken the pace of monetary tightening.

Dollar Retreat Supports Asia FX; Yuan Turns Weaker – Reuters

Most emerging Asian currencies rebounded with the dollar taking a breather, while

fragile risk sentiment curbed the prospect of further upside for regional currencies.

Emerging Assets Head Higher as Dollar Dips on Mixed US Data – Bloomberg

Emerging-market stocks rose the most in three weeks and currencies strengthened as the dollar dipped after mixed US economic data didn’t bolster the case for the Federal Reserve to raise interest rates this year.