Yellen Signals Fed on Track to Raise Rates in December

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Top Headlines

Yellen Signals Fed on Track to Raise Rates in December – Wall Street Journal (subscription) Fed chief says gains in labor market bolster her confidence that inflation will return to 2%.

ECB Rate Cut Will Pack More Punch Than QE – Wall Street Journal (subscription) Diverging eurozone and U.S. interest rates might push euro lower, stoking inflation and growth.

OPEC States Push for Oil Curbs as Saudis Insist on Global Effort – Bloomberg Cash-strapped OPEC nations from Venezuela to Iran are piling pressure on Saudi Arabia to reduce oil output, yet the group’s biggest producer insists it will only do so if countries outside the organization join the effort.

Goldman Sachs Creates Virtual Currency for Settlements – Financial Times Goldman Sachs has made a patent application for a cryptocurrency settlement system in a move that underlines bank hopes that the architecture behind bitcoin can revolutionise global payments.

 

 

Regulatory News

ESMA Clearing Confirmation Gives Asset Managers a Year to Prepare – The Trade News The technical standards for OTC interest rate swaps clearing have been included in the Official Journal, giving the buy-side a year to prepare for the new rules.

Interview with Michael Syn – Profit & Loss Speaking at Profit & Loss’ Forex Network Singapore conference, Michael Syn, executive vice president, head of derivatives at SGX, gave his views on RMB internationalisation, the symbiotic and complementary relationship between OTC and ETD products, as well as opportunities to innovate in the commodity markets.

 

 

Company News

FXCM Sells Brokerage to AS Expobank – Profit & Loss Online foreign exchange provider FXCM.Inc says that it has completed its sale of FXCM Securities Limited to AS Expobank for a non-disclosed price.

Euronext Picks ex-Tullett E-Trading Chief for Fixed Income Push – E Financial News Paul Humphrey, who left Tullett Prebon in 2014 after seven years leading its electronic broking business, will join Euronext in January as its head of fixed income, rates and FX strategy – a new role.

Charity-Focused Venture Aims to Cut FX Costs – Profit & Loss Charitytransfers, a new venture, has been launched to help charities reduce their FX dealing costs and provide them with ongoing advice and technical support.

BlueCrest Goes Private; Returns $8bn to Clients – Profit & Loss BlueCrest Capital Management plans to transition into a private investment partnership, returning to its clients the $8 billion that it currently manages on their behalf.

 

 

Market Savvy  

Pound Headed to 30-Year Low for Deutsche Bank as Risks Multiply – Bloomberg Sterling’s slump to a seven-month low on Wednesday is just the tip of the iceberg, according to a growing number of analysts and investors uneasy about the U.K. currency’s prospects in 2016.

FX: Battle of The Sexes – Euromoney Leading women in FX talk about breaking the glass ceiling as the latest scandals reinforce the macho stereotype of the industry. Could the rise of electronic trading influence gender dynamics?

 

 

Press Releases

CME Group Volume Averaged 13.7 Million Contracts per Day in November 2015, Up 6 Percent from November 2014 – PR NewsWire CME Group, the world’s leading and most diverse derivatives marketplace, today announced that November 2015 volume averaged 13.7 million contracts per day, up 6 percent from November 2014.

All-To-All Trading a Reality in Spot FX, Report Says – Profit & Loss A new report from consultancy firm GreySpark Partners claims that all-to-all (A2A) trading has become a reality in the spot FX market over the past year.

MOEX November 2015 FX Volumes Show Staunch Decline MoM – Finance Magnates The Moscow Exchange (MOEX) has reported its trading volumes for the month ending November 2015, which were underpinned by a staunch decline in its foreign exchange (FX) market turnover, according to a MOEX statement.  

 

 

Industry Events