Britain’s competition watchdog cleared CME Group’s 3.9 billion pounds deal to buy Michael Spencer’s NEX Group, paving the way for a cross-border trading powerhouse.
FX market structure changes are behind a change in approach on the part of several non-bank market makers, and the direction of travel is very much the mainstream.
Risk sharing is the foundation of central clearing. If it all goes wrong, and a defaulter can’t pay for its own losses, then everyone else chips in via a prepaid fund. So, it’s probably no surprise that in the aftermath of last month’s default at Nasdaq Clearing – which left members to mop up losses of €107 million – some firms are wondering whether they really do have to share risk with everyone else.
As the industry continues to adapt following the implementation of MiFID II, Ben Springett from Jefferies, Matthew McLoughlin of Liontrust and Jonathan Finney from Citadel Securities discuss how the buy-side and brokers are interacting with market maker systematic internalisers.
A former Societe Generale trader was given a $9.1 million challenge by a Paris court: Go to the UK to face charges that he rigged a key interest rate or give up on a multi-million euro lawsuit against the bank.
The current calm masks the market’s increased sensitivity to sudden shocks, whereby liquidity evaporates, exacerbating price swings.
The financial industry has raised a cheer for the EU’s decision to address a big potential source of instability in a no-deal Brexit: the issue of access to London’s clearing houses. But banks and other institutions’ worries about the consequences of an acrimonious break-up between London and Brussels are far from over as Brexit day approaches.
The Federal Reserve and two other agencies on Tuesday proposed a new approach meant to answer concerns that existing requirements ignore risk-reducing collateral and didn’t allow enough netting of derivatives contracts with similar risks. The change would free up some of the bank capital demanded after the 2008 financial crisis.
The international standard-setting body for banking supervision said a number of member jurisdictions have missed deadlines for the implementation of key measures addressing credit and liquidity risk, as well as the central clearing of derivatives.
Variation margin calls after a negative market shock may create an inefficient outcome, an ECB study finds.
European investors could be denied access to derivatives contracts referencing non-EU benchmarks after 2020.
The Monetary Authority of Singapore and the China Securities Regulatory Commission have agreed to strengthen supervisory cooperation and enhance financial connectivity between their capital markets.
UK regulators have laid the groundwork for the regulation of cryptoassets and distributed ledger technology, such as blockchain, with the publication of a long-awaited report.
US fund administrator sees growing interest crypto interest from private equity and hedge funds.
Ledger, one of the world’s biggest makers of hardware devices used to store cryptocurrencies, is expanding into Asia-Pacific, looking to capitalise on strong Chinese demand for cryptocurrencies storage despite a ban on such exchanges in China.
This week, in the grand surroundings of the Methodist Central Hall in London’s Westminster, a conference was convened with a rather noble title: “Blockchain and the Future of Humanity: Economy. Environment. Ethics.”
Just as traditional financial markets are getting interesting, the 30-day volatility of the most valuable cryptocurrency has plunged to the lowest since December 2016, months before its head-spinning bull run even began in mid-2017.
In the last year, the cumulative value of all major cryptocurrencies has tumbled by more than 70 percent. But that doesn’t mean no one’s making money in crypto anymore.
Deutsche Börse has more than doubled revenues from clearing over-the-counter derivatives, a key front in the German exchange’s battle to win business from London after Brexit.
Bank to transfer certain derivatives, repo and sec lending contracts to Barclays Bank Ireland post-Brexit.
Digital Asset is to provide a blockchain-based platform for completion of post-trade allocations and processing for northbound trades under Stock Connect.
Sterling on Wednesday rose off a 10-week low as investors turned their attention to a Bank of England monetary policy meeting on Thursday, when it is expected to keep interest rates on hold and detail conditions necessary for policy tightening.
The dollar rose to its highest levels in more than a year on Wednesday as dovish comments by the Bank of Japan and weak data from China reinforced the greenback’s attractiveness as an investment destination.
Urjit Patel, India’s central bank governor, was rumoured on Wednesday to be on the brink of resigning amid a stand-off with Prime Minister Narendra Modi’s government over the administration’s efforts to influence central bank policies.
Australia’s dollar may drop to a nine-year low of 67 US cents as the central bank is set to become even more dovish and lean more toward cutting interest rates, according to money manager Hexavest.