Top Headlines

Top Banks Join London Blockchain Working Group – Financial News(subscription)
More than 20 financial institutions have collaborated in a London-based working group looking at how blockchain technology can transform the way securities are traded, cleared, settled and reported.

Why China Is Loosening the Yuan’s Ties to the Dollar – Wall Street Journal(subscription)
Pledge to peg currency to a basket underscores challenges Beijing faces, as US rates rise.

UK Voters Need to Beware Treaty Risks in EU Vote, Panel Says – Bloomberg
European Union treaty changes are needed to put into effect Prime Minister David Cameron’s demands for a renegotiation of Britain’s relationship with the bloc.

Junk-Bond Selloff Intensifies – Wall Street Journal (subscription)
Rout reaches a third consecutive trading day and shares of some asset managers tumble.

Regulatory News

CFTC Quizzes Clearing Banks Over Leverage-Cutting Tactic – Risk
Banks that found a way to remove billions of dollars of cash from their balance sheets have been sent a list of questions by the Commodity Futures Trading Commission.

Hong Kong Watchdog Fines JPMorgan for Dark Pool, Control Failures –Reuters
Hong Kong’s securities watchdog said on Tuesday it had fined JPMorgan HK$30 million ($3.87 million) for a range of control failures, including breaches in its dark pool business.

Leaked EU Docs Suggest MiFID II Will Allow CSAs – The Trade
Draft European Union (EU) proposals around the MiFID II indicate that asset managers will be permitted to pay for sell-side research through commission sharing agreements (CSAs) providing they give investors full cost breakdowns.

Company News

Banks Sign with TrueEx for New Solution – Profit & Loss
Although non-standard swaps do not have to be traded on Swap Execution Facilities (SEFs) under Dodd-Frank, one SEF has launched a product seeking to bring those transactions into the exchange-type environment.

Mizuho Forges Ahead with London Derivatives Build – Financial News
Mizuho Financial Group’s plans to launch a derivatives business in London have come to fruition after the Japanese bank’s international arm cleared an important post-trade milestone.

Visual Edge Gets Risk Management Upgrade – Profit & Loss
Analytics tool Visual Edge has been enhanced to provide MT4 brokers with greater risk management capabilities, in addition to being used as a business analysis and client profiling tool.

DTCC’S Partners with SimCorp for Repos – Profit & Loss
The Depository Trust & Clearing Corporation Omgeo subsidiary, and SimCorp, announce that the first live repurchase agreement trade has been automatically processed in SimCorp Dimension and Omgeo Central Trade Manager  between Kammarkollegiet and Nordea Bank.

Market Savvy  

Dollar Slips as Fed Meeting Approaches – Wall Street Journal (subscription)
Investors have been reducing bets the greenback will strengthen as they take profits.

Hungary’s MNB Says no FX Issuance Necessary During 2016 – EconoTimes
Hungary MNB’s chief economist remarked in a press conference that there was no reason for the government to plan the euro bond issuance in 2016, adding that the government will be able to retire all maturing FX debt using the central bank reserves and substitute local currency borrowing for budget purposes.

China’s New Yuan Index: Here’s What the Market Needs to Know – Bloomberg
A new currency index in China is causing a stir as policy makers seek to refocus the market’s attention away from the yuan’s moves versus the dollar and instead compare performance against a wider selection of peers.

Press Releases

Intercontinental Exchange Completes Acquisition of Interactive Data Corporation – ICE
Intercontinental Exchange Group the leading global network of exchanges and clearing houses, today completed its previously announced $5.2 billion acquisition of Interactive Data Corporation a leading provider of financial market data, analytics and related trading solutions.

Industry Events