Day: 20 October 2020

Italian Banks’ Net Bad Loans Fell in August

The volume of Italy’s banks’ net bad loans fell to €24 billion in August, down from €32 billion a year ago and €40 billion in 2018, Italy’s Banking Association, ABI, said Tuesday in a report. Since November 2015, when the highest peak in bad loans reached €89 billion, there has been an overall drop of – […]

Sept Housing Starts Rebound on Single-Family

The US September home building data, released Tuesday, continued to represent the shift toward single-family homes and away from condos and apartments as buyers seek more space and larger homes since the COVID-19 quarantines. The pace of housing starts rose by 1.9% to a 1.415 million annual rate, below the 1.451 million pace expected and […]

CFTC, BoE Sign Cross-Border Clearing MOU

The Commodity Futures Trading Commission (CFTC) and the Bank of England (BoE) today announced that they have signed an updated Memorandum of Understanding (MOU) regarding cooperation and the exchange of information in the supervision and oversight of clearing organisations that operate on a cross-border basis in the US and UK. The MOU strengthens the relationship between […]

Virtu Expands Broker-Neutral FX Offering

Virtu Financial today announces several product and service enhancements in its broker-neutral FX offering, supporting the firm’s aim to deliver a one-stop solution for buy side FX execution. Virtu’s new offerings include an execution management platform for FX, broker-neutral access to dealer liquidity, FX trade analytics and data, as well as FX post-trade services. The […]

CLS and SigTech Collaborate

CLS and investment manager technology provider SigTech have announced a collaboration to provide CLSMarketData clients with access to SigTech’s back testing environment and analytics platform. Through the collaboration, CLS clients will have the option to use SigTech’s cloud-hosted Python-based research platform to perform tailored analyses of CLSMarketData. It will address, CLS says, increasing demand from […]

Investors Still Overpaying for Currency Hedging: Study

A new study by Lumint Corporation and New Change FX (NCFX) argues asset managers are “turning a blind eye” to FX costs and passing these costs directly on to end investors by means of a lower net asset value. The study finds the average transaction cost of an overlay FX hedge is $267 per million, […]

First Digital Currency Launched on Corda

UK co-operative Cordite Society has launched XDC, the first public blockchain Corda Network digital currency, leveraging the existing UK legal structure for mutual societies to operate a digital currency, and thus providing the first onshore legal structure for decentralised finance (DeFi). XDC, is an exchange token, released onto the Public Corda network, a publicly-available internet […]

Regulation Changing the Face of PB: New York Fed

A new paper by the Federal Reserve Bank of New York’s Liberty Street Economics unit highlights the changing relationships between hedge funds and prime brokers – specifically that funds are spreading their business wider and that the large dealer-affiliated PBs are suffering disproportionately. The paper, How Has Post-Crisis Banking Regulation Affected Hedge Funds and Prime […]

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