President Donald Trump plans to nominate J. Christopher Giancarlo to lead the Commodity Futures Trading Commission, the regulator tasked with policing the massive over-the-counter derivatives market, the White House said.
Sterling has given up some of its gains after official figures showed that wage growth in the UK slowed by more than expected.
Investors are souring on the pound as the UK prepares to start legal proceedings to leave the European Union, sending the currency back toward three-decade lows even as officials forecast a resilient economy.
The dollar was subdued in European trade, staying range-bound ahead of an expected US Federal Reserve interest rate hike with investors’ eyes peeled for clues on the bank’s future monetary policy.
China does not want a trade war with the US and will not devalue the renminbi to boost exports, the country’s premier said, as he struck a conciliatory note ahead of a series of high-level bilateral meetings.
With buy-side clients taking on multiple brokers for execution and clearing, FCMs will have to become specialist service providers.
Currently, markets are looking at noise as rising volatility because broad market sentiment has been complacent.
Research has revealed buy-side market participants are convinced artificial intelligence (AI) will be more disruptive for the industry than blockchain.
Nigeria’s central bank said it will sell $150 million in currency forwards on the interbank market through commercial lenders.
US President Donald Trump will nominate Goldman Sachs banker James Donovan as deputy Treasury secretary, the White House said, adding another alumnus of the Wall Street investment bank to his administration.
Tearing up global banking rules could lead to a new crisis, putting at risk the taxpayer, who was forced to bail out lenders in the last financial crisis, European Central Bank Executive Board member Sabine Lautenschlaeger said.
The FIA has asked the European Commission to drop exchange-traded derivatives from a requirement that transactions be reported to a trade repository.
Markets have enjoyed bumper volumes due to regulatory uncertainty since Trump’s election and his moves to roll back some US legislation could also benefit its exchanges in the longer term.
The original comment period was to expire on March 16 of this year and as extended, the comment period will end on May 15.
As part of its ‘Brexit scenarios’, group debates shift to Paris, Frankfurt and Madrid.
The London Stock Exchange’s clearing house LCH has filed an application with the US futures regulator to make variable notional swaps in eight currencies eligible for SwapClear services.
Eris Exchange has launched a new market data product, Live Eris Swap Curve, which offers real-time valuations and analytics for Eris Standard Swap Futures.
The Technancial Company (TTC) and Ullink have jointly launched a solution that monitors all Sponsored Direct Market Access (SDMA) trading activity continuously for HFT trading clients on all major exchanges.
The rupee hit its strongest level in more than a year, as traders welcome the governing Bharatiya Janata Party’s victory in state elections over the weekend.
Most Latin American currencies weakened slightly as traders avoided big bets ahead of a widely expected US interest rate increase on Wednesday.
The Canadian dollar weakened against its US counterpart as prices of oil, one of Canada’s major exports, fell and the greenback climbed broadly ahead of a widely expected interest rate hike by the US Federal Reserve.