Regulation
XTX to become equities SI under Mifid II
The non-bank market-maker will opt into the regime for European equities, regardless of its share of the OTC market
Fed fines HSBC $175m for unsafe FX practices
Bank ordered to improve practices
Deutsche settles FX rigging case for $190m
Credit Suisse now the only holdout defendant in the case that involves 16 major banks
ACI joins voices calling for changes to Principle 17
ACI finds “no firm evidence or specific situations” where there is any likely benefit to clients from trading in the last look window
FMSB warns of Ficc market vulnerabilities
In its annual report, the body representing the global Ficc market, highlighted areas of concern still needing attention
Cürex launches pre-trade time-stamping
The new capability will allow Cürex’s customers to prove their compliance with Mifid II
FCA: Mifid II enforcement will be proportional
While enforcement may not be immediate, participants need to show they have taken sufficient steps to meet requirements
Last look consultation closes, outcome uncertain
Responses to GFXC’s consultation on last look will be published before the body meets on November 14
PBoC scraps reserve requirements as capital flows ease
Renminbi slides against dollar as Chinese central bank reversed two measures it put in place to fight speculation
Employees get deposition stay in FX antitrust case
Depositions and interviews with bank staff in benchmark rigging case delayed until December 8
Integral’s OCX to operate as MTF
Market participants using OCX will be able to comply with Mifid II, including banks under the systematic internaliser regime
R3 unveils DLT regulatory reporting prototype
Technology provider works with Financial Conduct Authority and RBS to build continuous regulatory reporting solution
Post-trade transparency is the next focus – Chris Salmon
After September 21, the closing date of the last-look review, post-trade transparency may require further guidance
SNB: from floor to ceiling
Swiss National Bank may ‘begin to act as a ceiling on the exchange rate’, says HSBC
Mark Johnson's trial to start on September 25
Jury selection to begin in alleged front-running case; judge postpones original date by a week at status conference hearing
Singapore to play leading role in GCC adherence, Loh says
Speaking at FX Week Asia, Jacqueline Loh stressed the importance of adherence to the FX Global Code of Conduct
DoJ fears FX civil suit may compromise criminal cases
It moves for judge to stay staff depositions at seven banks for fear of witness intimidation
FCA grants APA approval to Abide Financial
Authorisation allows Nex Regulatory Reporting, powered by Abide, to provide enhanced services ahead of Mifid II
ECB minutes reveal concerns over euro strength
Single currency has risen almost 6% over last three months, touching $1.1906 - highest since January 2015
CLS commits to FX Global Code, sets up public register
The settlement firm says it has aligned its activities with the principles of the Code
Nex Optimisation boosts Harmony as Mifid II deadline approaches
Traiana’s Harmony has been extended to enable participants to exchange additional information to assist with meeting a number of regulatory obligations under Mifid II
China FX reserves rise for sixth consecutive month
PBoC figures show $24 billion increase, bringing the total stockpile of reserves to a nine-month high
EM prices could suffer in September – Swissquote
If the ECB starts tapering, emerging markets could take a profound hit in the short term
Giancarlo confirmed as CFTC chairman
US Senate also confirms two commissioners