Julie Ros

US October Confidence Slips on Decline in Outlook

The Conference Board’s US consumer confidence index fell to a reading of 100.9 in October from a downward revised 101.3 reading in September. The Conference Board Tuesday noted that most consumers see little improvement in the economy through the end of the year as COVID cases are again on the rise. Analysts had expected the […]

BoE Signs Up to ISDA’s IBOR Fallbacks Protocol

The Bank of England (BoE), has signed up to the International Swaps and Derivatives Association’s (ISDA) ‘IBOR Fallbacks Protocol’ ahead of the transition away from LIBOR by the end of 2021. ISDA launched the Protocol today and confirmation that the Bank has signed up is available on ISDA’s website. This will apply both to transactions BoE undertakes on […]

GDP Will Rebound for Q3, But Not Nearly Enough

After the 31.4% plunge in second quarter GDP, there is no doubt that economic growth partially rebounded in the third quarter, data to be released Thursday will show. Consumption, home building and business activity all improved drastically from the lockdown-period of the previous quarter. But it will be a while until the economy completely gets […]

US Sept Existing Home Sales, Prices Surge

US existing home sales advanced further in September, hitting the highest point since May 2006. National Association of Realtors (NAR) chief economist Lawrence Yun said Thursday that it was “another spectacular month” for sales and prices, but noted again that supply is being depleted rapidly. He said that the housing sector is experiencing better than […]

Steptoe Launches Financial Education Series

Steptoe & Johnson LLP has launched Financial Services University, a video series that illustrates the financial services legal, business, and regulatory issues companies face around the world. “We’re excited to launch our Financial Services University,” says Matt Kulkin, partner and co-chair of the firm’s Financial Services Group (FSG) and former Commodity Futures Trading Commission director. “These short […]

Chilean Bank Goes Live with Edgewater Platform

Edgewater Markets today announces that Banco del Estado de Chile, owned by the Republic of Chile, has gone live with its new trading platform. Edgewater adapted the proprietary technology of its EdgeFXLatam to provide BancoEstado with a customised solution for its internal users, onshore clients, and global offshore market participants. Leveraging the Chilean Electronic Stock […]

CFTC Issues Advisory to FCMs on Virtual Currencies

The Division of Swap Dealer and Intermediary Oversight (DSIO) of the Commodity Futures Trading Commission (CFTC) issued an advisory to futures commission merchants (FCMs) regarding the holding of virtual currency in segregated accounts. The advisory provides guidance to FCMs on how to hold and report certain deposited virtual currency from customers in connection with physically […]

Fed’s Beige Book Shows Slight to Modest Expansion

The Federal Reserve’s latest Beige Book survey of economic activity through the 12 regional bank districts Wednesday found little evidence of any V-shaped recovery, instead seeing “slight to modest” improvements in most regions. Assembled by the St Louis Fed, the survey prepared for the next Federal Open Market Committee meeting November 4-5 was able to […]

BoE’s Ramsden: UK Doesn’t Need Negative Rates Right Now

The UK economy does not require sub-zero interest rates at present, according to a top central banker Wednesday, who added the negative borrowing rates have been most effective in other jurisdictions once a recovery is underway. “The time” for negative rates in the UK “is not right now”, said Dave Ramsden, the Bank of England […]

ISDA Publishes Whitepapers on Smart Contracts, DLT

The International Swaps and Derivatives Association (ISDA) and R3 have collaborated with Clifford Chance, Jones Day, Linklaters and McCann FitzGerald to publish four new whitepapers that analyse the legal issues associated with using smart derivatives contracts on distributed ledger technology (DLT). Use of new technologies has the potential to significantly increase efficiency and reduce costs for derivatives […]

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