Day: 20 August 2020

US Initial Claims; Philly Fed Index, Disappoint

The future of the enhanced US jobless claims programme remains uncertain as talks between the Administration and Congress have gone silent, but new filings turned higher in the most recent week. At the same time, this week’s manufacturing conditions data have suggested a slower pace of expansion – and that’s in states where COVID cases […]

Fed’s Kaplan for “Restraint” in Doing More Monetary Stimulus

Dallas Federal Reserve Bank President Robert Kaplan says the Fed is “quite a ways” from considering raising interest rates, but advocated “restraint” in doing more to stimulate the economy. Although inflation has long run below the Fed’s 2% target, Kaplan said he is “cognisant” of the possibility that inflation could accelerate in coming years. He […]

Capitolis Announces Record in FX Options; NatWest Joins

Capitolis Achieves Record Volume in FX Options Novations in Second Quarter 2020; NatWest Joins Community on Growing Platform Since its inception, the Capitolis FX Options Novations platform has eliminated positions of more than $2.5 trillion in notional. Capitolis, an SaaS platform that drives financial resource optimisation for capital markets, today announces that Capitolis Novations, its […]

SGX, FTSE Russell to Collaborate in New Asian Indices

Singapore Exchange and FTSE Russell have signed a long term strategic paertnership agreement that will see the firms launch new Asian and Emerging Markets focused, multi-asset index derivatives offerings. The core products will be anchored around FTSE Russell’s global benchmark indices for fixed income, listed real estate, global equities and currencies, catering for expansion to […]

CFTC Clobbers Bank of Nova Scotia with $127 Million Spoofing Fine

The US Commodity Futures Trading Commission has issued three Orders filing and settling charges against Bank of Nova Scotia for spoofing in precious metals futures, making false statements to US regulators and  for compliance and oversight failures. The bank has been fined a total of $127.4 million. The first two orders require Scotia to pay […]

Goldman Live on ForexClear

Goldman Sachs has become the latest bank to go live on LCH’s ForexClear service, offering clearing services to its clients under the ForexClear FCM (futures commission merchant) and international clearing broker model. Goldman clients can access the FX derivatives clearing service in NDFs, the clearinghouse also offers dealer-to-dealer clearing services for deliverable FX options, spot […]

Digital Transformation Should Be Industry, Not Firm, Wide: R3

Enterprise software firm R3 has called for a new, broader approach to digital transformation, which targets entire industries, rather than individual companies. Citing a Broadridge Next-Gen Technology Pulse Survey which found that 97% of companies have benefited from technologies that enable digital interaction and that 99% of companies are now changing their technology strategy and […]

SteelEye Unveils Auto-Trade Reconstruction Solution

Compliance and data analytics firm SteelEye has released Auto-Trade Reconstruction, a solution that reduces the time it takes for a firm to reconstruct a trade from days to seconds. Under MiFID II, MAR, Dodd-Frank and other global regulations, authorised firms can be asked by the regulator at any point to reproduce the records that relate to […]

Glue42, Leading Point Seek to Modernise Front Offices

Integrated desktop solutions provider Glue42 and financial services advisory form Leading Point Financial Markets have announced a partnership they say will help clients provide “a next-generation trading desktop experience”. The firms say that sales and trading activities are inherently complex and require equally complex software applications to manage data and workflows. Due to single monolithic applications […]

And Another Thing…

Well Monday’s column put the cat amongst the pigeons – as writing about SNB-Day and re-papering trades always does. I am indebted as always, to those of you who shared and re-lived your experiences, the only pity was we were not in the usual location for the swapping of war stories! The exception, it is […]

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