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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Deutsche Bank in ESG FX Asian First

Deutsche Bank and Olam International have executed what is believed to be Asia’s first FX derivative linked to environmental, social and governance (ESG) key performance indicators (KPIs). The ESG-trade was a one year USD/Thai Baht forward enables Olam to lock-in a discount when it meets pre-defined ESG targets which supports the United Nations (UN) Sustainable […]
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US Initial Claims Slow: Durable Goods Orders Surge

The massive amount of US data released simultaneously Thursday ultimately showed that the rate of claims declines continued to slow even as economic activity picked up in the manufacturing sector. US initial jobless claims filings fell further in the June 20 week, but the level of new filings remains well above one million more than […]
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FMSB Publishes Good Practice Draft on Algo Trading

The FICC Markets Standards Board (FMSB) has published a new Statement of Good Practice on algorithmic trading in FICC markets as a transparency draft for market consultation. FMSB members and other interested parties are invited to comment on the proposed Statement of Good Practice. This consultation will run until Friday 21 August 2020 with the […]
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Bloomberg Gets Malaysia FX Nod

Following news last week that Refinitiv’s platforms had been granted permission to operate in Malaysia, Bloomberg has announced that its FXGO platform has also been granted approval from Bank Negara Malaysia under its new Framework for Electronic Trading Platforms. “Bloomberg has been a long-standing and dedicated partner for the Malaysian financial markets, and this approval […]
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Fix, Settlement Risk on GFXC Radar

The Global Foreign Exchange Committee (GFXC) held a teleconference meeting on June 22 to discuss conditions in FX markets, part of which saw the committee focus in on activity around the London WM/R 4pm Fix and issues highlighted by last year’s Bank for International Settlements (BIS) Triennial Survey which revealed an increase in the proportion […]
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