The US’s top swaps regulator is planning sweeping changes to how it applies its rules abroad. Calling the Commodity Futures Trading Commission’s international approach “flawed and over-expansive,” Chairman J. Christopher Giancarlo said in a speech that his agency should give more deference to other countries’ regulations.
At least eight of the largest investment banks in London, including Bank of America Merrill Lynch, Citigroup, Goldman Sachs and JPMorgan, have said they will shift a significant proportion of their operations to Europe irrespective of the outcome of Brexit.
In this edition, the podcasters traverse the US legal system and the Mark Johnson case, discuss why some CTA sectors are doing well and some aren’t, debate whether crypto markets will evolve to an OTC model, and take a look at China’s change in approach to its programme of liberalising the yuan.
Data science may have a razzle-dazzle kind of aura, but the terms used to describe the work make it sound like hard, back-breaking, painstaking labour. Data has to be harvested and cleaned; it is processed in factories, and analysed in labs. Banks are trying to hitch their research units up to this trendy, buzzy bandwagon – but already, some cynics believe they lack the stomach for the hard labour that’s involved.
An 83 percent plunge in storied Singapore-listed stock Jardine Matheson Holdings on Thursday has traders pointing to the most likely culprit: a fat finger.
Data from the Futures Industry Association shows a 20.2% increase in the number of futures and options contracts traded globally on exchanges in 2018.
Donald Trump has signed into law a funding package temporarily reopening the federal government without securing money for his proposed border wall, in a defeat for the president following a 35-day stand-off.
The FICC Markets Standards Board has published the final version of its Standard on Secondary Market Trading Error Compensation under its remit to improve conduct and raise standards in the wholesale fixed income, currencies and commodities markets.
Yi Huiman, a banking veteran who most recently chaired China’s largest lender, was named head of the country’s securities regulator, a role that puts him at the forefront of opening up the financial system to overseas firms.
The Aachen treaty signed by France and Germany to deepen ties sets a significant agenda.
The evolution of computing technology will further challenge global regulators and compliance professionals, to bolster privacy, fight cybercrime, govern digital currencies and manage online communications.
The production-weighted cash cost to create one Bitcoin averaged around $4,060 globally in the fourth quarter, according to analysts with JP Morgan. With Bitcoin itself currently trading below $3,600, that doesn’t look like such a good deal. However, there’s a big spread around the average, meaning that there are clear winners and losers.
Bank of England Governor Mark Carney said that cryptocurrencies were unlikely to
Bitwise Asset Management announced its intention to launch the ETF earlier this month. If approved, it would be the first bitcoin ETF to make it to market in the US.
The cryptocurrency has not been able to crack above $4,000 in three weeks just 12 months after trading at more than $12,000. Signs show that bitcoin investors are moving toward a more traditional commodity, says Jan Van Eck, CEO of Van Eck Associates.
US banks’ revenues from the sale and trading of fixed income, commodities and currency (FICC) products fell sharply in the fourth quarter of 2018, as challenging market conditions instigated drops of nearly 40% between Q3 and Q4, and nearly 20% between Q4 2017 and Q4 2018.
High-speed trading firm Virtu Financial has said it will preserve the broker-dealer businesses at ITG following its $1 billion takeover of the agency broker, as closure of the deal approaches.
Investors have voiced deep concerns about the German lender’s mooted tie-up with its domestic rival.
LCH Investments’ annual survey highlights the 20 hedge funds firms that have made the most money for investors since inception – and how they fared last year.
Accenture, SunTrust Banks and the American Bankers Association, a trade group for US banks, said on Friday that they had joined a $30 million investment round in Finxact, a startup that develops the back-end technology used by banks to process some transactions.
Spotex has hired Tom Reichel and Paul Beatty as managing director and director, respectively.
The pound drifted lower on Monday after posting its biggest weekly rise in more than 15 months last week as investors consolidated positions before crucial votes in the British parliament that will aim to break a Brexit deadlock.
The euro edged down on Monday as investors bought the dollar and prepared for volatile markets ahead of US-China trade talks and a Federal Reserve policy decision.
The US Federal Reserve will meet this week for the first time since stocks tumbled in December, as investors grew increasingly worried over the outlook for the US economy.
This year is looking a little brighter for Asia’s emerging-market assets amid prospects of a less aggressive Federal Reserve. But the US-China trade war saga and its impact on growth will keep traders on their toes.