DSB to Add Tech Forum Members

The Derivatives Service Bureau (DSB), founded by the Association of National Numbering Agencies (ANNA) is seeking to add members to its Technology Advisory Committee (TAC). DSB was founded to facilitate the allocation and maintenance of International Securities Identification Numbers (ISINs), Classification of Financial Instrument codes (CFIs) and Financial Instrument Short Names (FISNs), for OTC derivatives, […]
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ACI FMA, NYCDL, File New Amicus Curiae in Johnson Case

As former HSBC FX cash trading head Mark Johnson takes his case to the US Supreme Court, ACI – The Financial Markets Association (ACI FMA) has filed a second Amicus Curiae to support his efforts to have his case heard and conviction overturned. Additionally, the New York Council of Defense lawyers (NYCDL), a not-for-profit professional association […]
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CLS Activity Up in June, Down Y-o-Y

CLS says that average traded FX volume submitted to the settlement service was $1.78 trillion per day in June, a 20% increase from May and broadly reflecting the gains reported by FX trading platforms earlier this month. Year-on-year activity did decline, however, by 5.5%. Looking at the product segments it was a similar picture, spot […]
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FSB, Basel Committee, Reinforce Libor Transition Message

The Financial Stability Board (FSB) and Basel Committee (BCBS) have published a report, Supervisory issues associated with benchmark transition, in which they observe that “continued reliance of financial markets on Libor poses clear risks to global financial stability”. The report acknowledges that transition away from Libor by end-2021 requires significant commitment and sustained effort from […]
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WM/R at Heart of Singapore Concerns over LSEG, Refintiv Merger

Singapore’s Competition and Consumer Commission (CCCS) says it wants a full, in-depth review of the proposed takeover of Refinitiv by London Stock Exchange Group (LSEG), citing in particular the dominant position of the WM/R FX benchmark as a concern going forward. Based upon information supplied by the parties, the CCCS says it has raised competition […]
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US June Payrolls Rise: Unemployment Rate 11.1%

The US June employment report showed further, though measured, improvement, reflecting continued state re-openings. The sharp payrolls decline the Labor Department reported Thursday leaves a big hole to climb out of, and that recovery is likely to be hindered by the rebound in Covid-19 cases across several states. In many of those areas, businesses were […]
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COVID-19 Global Impact on Swaps Market Liquidity

Liquidity in the swaps market came under pressure as the COVID-19 crisis spread globally in late February into early March, then rebounded after governments and central banks intervened. To understand the nature of the crisis and the consequences of the official sector interventions, Greenwich Associates, in conjunction with ISDA, interviewed 172 buy- and sell-side swaps […]
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UK to be Fourth BIS Innovation Hub

The Bank for International Settlements (BIS) has selected the Bank of England to host its fourth innovation hub and announced plans to open others across the northern hemisphere. Hubs have been already been established in Basle, Hong Kong and most latterly, Singapore after the BIS initiated the programme in July 2019 to help foster collaboration […]
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Associations Call for European Benchmark Reform

Four associations have published a briefing paper with recommendations to reform the European Union Benchmarks Regulation (BMR), aimed at maintaining the intended protections of the regulation but reducing the potential for uncertainty and disruption and preventing EU investors from being put at a competitive disadvantage versus non-EU entities. The four associations, the International Swaps and […]
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Deutsche Deploys Symphony to Open up WhatsApp to Staff

Deutsche Bank has deployed the Symphony Connect Solution for secure chat and collaboration with its clients via WhatsApp. Following the introduction the WeChat functionality in November 2019, the bank says that clients can now securely and safely communicate with Deutsche Bank employees anywhere and any time via their preferred chat platform while meeting stringent security […]
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