News
Identity crisis for Facebook’s Libra under lawmakers’ grilling
Washington wrestles with ‘regulating the heck’ out of Libra without stifling innovation
Kurk joins Northern Trust as COO
Hire aims to capitalise on acquired technology and product capabilities
Regulators plan to delay IM ‘big bang’ – market sources
Most see final phase of initial margin rules coming a year later, in September 2021
JP Morgan tells HFTs: you’re ‘all finding homes’
But credit intermediation space has inefficiencies that more kill switches would address, conference hears
E-money poses serious threats to financial system, says IMF paper
Paper recommends a ‘synthetic CBDC’ to preserve financial stability
Caplin makes three senior hires
The three have nearly 100 years of experience in financial markets between them
Debelle swings at ‘buyer beware’ disclosures in FX
‘They don’t give you free licence to do whatever you want,’ says new GFXC chair
Bank of Thailand voices concerns over baht appreciation
Thai central bank says it has cut supply of short-term bonds to curb hot money inflows
Trump lashes out at Libra
US president says Facebook’s system will need a banking licence if it wants to be a bank
FX ‘safe’ in latest job cuts at Deutsche, for now
Savings gained from restructuring German bank said to free up capital to invest in core areas such as FX
West Africa announces ‘eco’ currency plans
Single currency seems unlikely to be introduced by next year, despite updated launch plans
Flow Traders hires head of trading in new FX push
Non-bank market-maker said to be looking to build out FX franchise
trueEX to shut; deal done with crypto venue
Would-be disruptor will exit swaps business on July 19
PBoC gets go-ahead from China’s cabinet to develop CBDC
China’s central bank is developing its own CBDC
Mexican peso falls on finance minister resignation
Crisis complicates inflation outlook and fuels fear of political interference in independent institutions
PBoC sounds alarm over Facebook’s Libra
Central banks must keep control of Facebook currency, senior officials say
PoP debate rekindles following Stater Global Markets exit
Prime-of-prime broker leaves space after financial backer withdraws support
Millward joins Galinov’s new startup, 24 Exchange
Former Cboe FX product strategy head joins Bermuda-based derivatives exchange
UBS exec: first trades via USC could take place this year
Risk Live: utility settlement coin project backed by group of banks moving “incredibly fast”
Hibor may drop, but rates volatility will stay
Open interest of Hibor futures on HKEX on rise as market reacts to HKD rates’ higher volatility
Citi shockwaves prompt rush for new PBs
BNP Paribas, Deutsche Bank, HSBC, JP Morgan and NatWest said to be onboarding Citi’s former clients
Record builds synthetic FXPB offering
Specialist currency manager will use tri-party model to move securities collateral between banks
Banks and prop shops expect more trading tie-ups
NDFs and FX swaps will increasingly trade on screen, but latter product gives banks advantage over non-banks
Westpac hires O’Flaherty as head of digital solutions
Ian O’Flaherty was global head of FX e-sales at Deutsche Bank earlier in his career