Harris Departs Campbell & Company

Michael Harris has left his role as president of Campbell & Company. A spokesperson for the firm tells Profit & Loss that Campbell reached a mutual agreement with Harris to step down from his role in order “to pursue other opportunities”. “We are genuinely thankful to Mike for his leadership and endless drive in all […]
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CFTC Provides Relief to Market Participants Transitioning Away from Libor

Three divisions of the US Commodity Futures Trading Commission (CFTC) have announced that each has issued a no-action letter that provides relief to swap dealers and other market participants as it relates to the industry-wide initiative to transition from swaps that reference the London Interbank Offered Rate (Libor) and other interbank offered rates to swaps […]
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Associations Publish Updated Master Regulatory Reporting Agreement

The Association of Financial Markets in Europe (AFME), Futures Industry Association (FIA), International Capital Market Association (ICMA), International Swaps and Derivatives Association (ISDA) and International Securities Lending Association (ISLA) have published a new agreement intended to simplify reporting across different European Union regulatory regimes. The Master Regulatory Reporting Agreement (MRRA) gives market participants an option […]
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ISDA Launches Another Ibor Consultation

The International Swaps and Derivatives Association (ISDA) has launched a supplemental consultation on the spread and term adjustments that would apply to fallbacks for derivatives referencing euro Libor and Euribor in the event those benchmarks are permanently discontinued. This represents the fourth consultation on the issue by ISDA in recent years and will also cover technical […]
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Crisil Buys Greenwich Associates

S&P Global-owned analytics company Crisil has bought market infrastructure research and strategy firm Greenwich Associates, the terms of the deal were not disclosed. Crisil says the acquisition will complement its existing portfolio of products and expand offerings to new segments across financial services including commercial banks and asset and wealth managers. It adds it will […]
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CME Optimistic for FX Futures Despite Low Volatility

CME Group sees cause for optimism as it reached a new single-day volume record for its FX futures of 2.7 million contracts on December 11, amid what has otherwise been a broadly subdued year of trading in the currency markets. Given that, aside from the Mexican peso, the majority of FX trading on CME takes […]
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Australian Regulator Seeks Improvement in Banks’ FX Businesses

The Australian Securities and Investment Commission (ASIC) has published a review of its investigation into practices in the wholesale FX market and says that while it has identified conduct and process improvements in banks’ FX businesses, there remain a number of areas in need of further improvement. Specifically, ASIC says that more can be done […]
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Fidelity Expands Crypto Business into Europe

Fidelity Investments has announced it is establishing a new entity to serve European institutions investing in digital assets. Fidelity Digital Assets, Ltd. will offer access to enterprise-quality custody and trade execution services for digital assets to investors such as hedge funds, family offices and market intermediaries. This business builds upon the company’s 2018 launch of […]
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State Street Announces Digital Asset Pilot with Gemini

State Street has announced a new digital asset pilot in collaboration with Gemini Trust Company, a cryptocurrency exchange and custodian. The pilot is looking to combine Gemini’s custody services with State Street’s back office reporting. Initially, it will perform reporting scenarios on users’ cryptocurrency holdings within Gemini Custody, but it can be adapted to report […]
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ACI to Update Exam Suite

ACI – The Financial Markets Association (ACI) has announced it will be updating its examination suite with all new syllabi. This first exam to be updated will be the ACI Diploma for senior foreign exchange and money market dealers, corporate and bank treasurers and senior operations staff. ACI says the diploma “has long been a […]
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