Federal prosecutors are investigating foreign-exchange trading at Wells Fargo and have subpoenaed information from the firm, which recently fired bankers in that business, according to people familiar with the matter.
The Mark Johnson case gave us some memorable quotes, but there’s still a serious question about the difference between pre-hedging and front-running.
Lawyers for ECU Group and HSBC clashed in court on October 26, over access to data the currency investment firm says will enable it to decide whether to go ahead with a potential lawsuit, alleging fraudulent behaviour on the bank’s part.
A new Staff Working Paper published by the Bank of England supports the assertion made in the original investigation by the Bank for International Settlements’ (BIS) that the October 2016 sterling flash crash may have been exacerbated by the temporary suspension of trading on CME’s sterling FX futures.
Customers might want to be even more inquisitive about how FX LPs handle their order flow.
The dollar slipped after its biggest weekly rise this year as investors took profits before a central bank decision this week where markets are waiting to see if strong economic data will spur a more hawkish stance.
- Dollar Pares Gains After Hitting Highest Level in More Than Three Months – Wall Street Journal (subscription)
- Dollar Pares Second-Best Weekly Gain of 2017 in Late Selling – Bloomberg
Britain’s pound strengthened against the dollar, as traders geared up for a Bank of England policy meeting later in the week that they expect will produce the first increase in interest rates in more than a decade.
The Bank of England may increase interest rates this week for the first time in more than a decade, but that won’t be enough to buoy the pound, according to strategists.
The euro held near three-month lows versus the dollar after the Catalan parliament declared its independence from Spain after a secret ballot, which is now likely to be ruled illegal by Spain’s constitutional court.
Bets on higher-yielding currencies from Brazil to Poland are unwinding at the fastest pace in almost a year as soaring US Treasury yields undermine the attraction of riskier government debt.
UBS Group will start the process of moving London-based employees to expanded offices inside the European Union early next year.
Singapore wants to bolster its status as a wealth management and foreign-exchange center as part of plans to create more financial-sector jobs and mitigate the effect of rapid changes in technology.
Capitolis is the latest venture headed by Gil Mandelzis, the former EBS BrokerTec and Traiana CEO.
Data shared exclusively with CNBC from financial research firm Autonomous Next shows the number of funds investing in digital assets like bitcoin has grown rapidly to 124.
The SNB is not (yet) rushing to offer an official crypto version of the currency.
President Donald Trump is likely to announce Federal Reserve governor Jerome Powell as his nominee to be the next chairman of the US central bank next week, according to a person familiar with the matter.
The chair of the Commodities Futures Trading Commission (CFTC), Christopher Giancarlo, has called on the European Union to ensure the February 2016 equivalence deal on clearing houses is not undermined by policy responses to Brexit that leave the US facing “collateral damage”.
Volcker rule, SEC derivatives rule and dual registrations in the crosshairs.
New regulations in the North American and European markets are changing the requirements for firms’ middle- and back-office operations.
A new early warning model for predicting financial crises could give authorities more notice of an impending disaster, simply by using publicly available information, its creators claim.
John Horkan has been appointed as LCH Group chief operating officer (COO), effective immediately.
BestX has expanded its suite of best execution analytics with the launch of a new regulatory reporting module.
Confirmation was not available at press time but market sources tell Profit & Loss that Nick Hamilton has left FastMatch and will join BNP Paribas in London next week in a senior e-FX sales role.
Former global head of FX Wire at Citi, Lee Oliver, who assumed responsibility for InTouch FX, a news and market intelligence analysis service which is part of InTouch Capital Markets, has hired Robert Hoodless as senior analyst, with a focus on emerging markets FX.
Derivatives exchanges have begun their battle for a slice of a new market linked to alternative risk-free rates to Libor, as regulators aim to wean more than $350T of derivatives and other financial contracts off the tarnished benchmark.
The New Zealand dollar resumed its decline as the country’s new centre-left government started its first full week in office.
The rand and South African government bonds have endured their worst week since the ousting of its well-respected finance minister in March, as a combination of economic malaise and political tension leaves many investors convinced the country is heading for another round of credit-rating downgrades.