Day: 28 September 2020

ECB’s Schnabel Calls for a Euro Carbon Tax

A top European central banker Monday rebuked investors for underpricing the risk of climate change and called for a global carbon price to challenge the ecological and financial harm presented by global warming. “A global climate price is the most powerful way to correct market failure and to set in motion a process whereby firms […]

ECB’s Lagarde Unveils New Transparency Measures

Europe’s top central banker Monday promised greater transparency in its communications with the European Parliament, stepping up efforts to enhance public accountability following a rebuke from a German court back in May. Effective immediately, the European Central Bank (ECB) will publish “the opinions of the ECB Ethics Committee for cases of conflict of interest and […]

FSB Names LEI Regulatory Body

The Financial Stability Board (FSB) has confirmed the Regulatory Oversight Committee (ROC) of the Global Legal Entity Identifier System as the International Governance Body (IGB) for the globally harmonised identifiers used to track OTC derivatives transactions. G20 Leaders agreed at the Pittsburgh Summit in 2009, as part of a package of reforms to strengthen the […]

Z.com Launches Agency FX Service

GMO-Z.com Trade UK, an FCA-regulated member of the GMO Internet Group, has announced the launch of its agency FX service, which will be offered from its Z.com Global Markets brand, which was established in late 2019. The new service offers analytics and technology solutions to ensure that users achieve the best outcome possible for pricing, […]

LCH Processes First Sonia/SOFR Cross Currency Basis Swap

LCH SwapAgent, a service for non-cleared cross currency swap markets, says it has registered its first Sonia/SOFR cross-currency basis swap. The GBP/USD basis swap was executed between LCH SwapAgent members Bank of America and Lloyds Bank Corporate Markets. The trade was completed ahead of the upcoming discounting and price alignment interest transition to USD SOFR at […]

Hedge Funds, CTAs, Positive in August

Hedge funds and CTAs provided positive returns in August according to Backstop BarclayHedge, the firm’s Hedge Fund Index was up 2.38% on the month, while its CTA Index rose 0.24% Just four of the 30 hedge fund sub-indices were negative on the month, the worst performer being Emerging Markets Latin American Equities at -2.52%. Conversely, […]

Deutsche Traders Guilty in Spoofing Case

Two former Deutsche Bank precious metals traders have been found guilty in a Chicago court of spoofing precious metals markets. James Vorley and Cedric Chanu were convicted of three and seven counts of wire fraud respectively, however they were cleared of conspiracy charges. Vorley, who was based in London, and Chanu, who worked in both […]