Tag: Societe Generale

Societe Generale

Major Dealers Call for More Action on CCP Soundness

In a white paper released jointly, BlackRock, Goldman Sachs, JPMorgan, Allianz, Citi, Societe Generale, State Street, T. Rowe Price, and Vanguard, have presented detailed recommendations from both buy-side and sell-side perspectives to further enhance the safety and soundness of central counterparties (CCPs. The firms say that while CCPs have been increasingly relied upon to protect […]

CTAs End Run of Good Performance in September

CTAs gave back some of August’s gains in September, closing the month down 3.21%, according to data from Societe Generale (SG). The SG CTA Index is still up 8.58% for the year, however. Trend followers were hit the most in September with the SG Trend Index down 5.27%, whilst short-term CTAs limited losses to 1.27%. […]

CFTC Fines Six Banks for Reporting Failures

The US Commodity Futures Trading Commission (CFTC) has issued six banks with regulatory orders over reporting failures. The six banks; Bank of New York Mellon, HSBC, Natwest Markets, Northern Trust, PNC Bank and Societe Generale were collectively fined more than $6 million over the failures – Northern Trust and SocGen were also charged with failure […]

JPM, SocGen, Invest in Wematch

JP Morgan and Societe Generale have invested in fintech firm, Wematch, a company that provides technology to augment how traders at banks match, negotiate and manage trades that are currently predominantly voice-traded, thus bringing, according to the firm, the audit and control benefits of electronic tools to voice trading, delivered as web-based software-as-a-service technology. Wematch says there are now […]

Strong CTA Performance Extends Through August

Following a strong July, CTAs reported positive performance again in August, according to data from Societe Generale (SG). The SG CTA Index was up 3.45%, adding to gains of over 10% year-to-date for these firms, which would put them on track for their best year since 2014. Short-term CTAs also made performance gains in August, […]

SocGen Begins Supporting Eurex FX Futures

Societe Generale (SG) is now supporting Eurex FX futures, from clearing to trading. SG’s clients will now be able to trade FX on Eurex, while any of the exchange’s clients will be able to execute bilaterally off-exchange against the bank or to move between OTC FX and listed FX using exchange for physical (EFP). Chris […]

Trader Walks Free in Euribor Trial

Former Deutsche Bank trader and managing director Andreas Hauschild has been acquitted of conspiracy to defraud at London’s Southwark Crown Court over the rigging of the Euro Interbank Offered Rate (Euribor) after being found not guilty of manipulating the benchmark rate during global financial crisis. The case was brought by the UK”s Serious Fraud Office […]

Five on Friday: What Happened in Markets This Week

Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) SNB Upholds Ultra-Loose Policy The Swiss franc was up 0.2% to 1.12127 per euro on Thursday following Swiss National Bank (SNB) president, Thomas Jordan’s, announcement to maintain loose monetary policy. In an interview with Bloomberg, Jordan […]

Research Contradicts US Officials on USD Strength

A research note today from Societe Generale found that, despite claims from senior US officials, the USD has generally weakened against other major currencies over the last two decades. This announcement comes after a press conference on Saturday, where US Treasury Secretary Steve Mnuchin argued that by not intervening to support the yuan, the Chinese […]

CTA Performance Dips in May

CTAs struggled in May as markets pulled back from established trends, according to the latest data by Societe Generale (SG) CTA indices. The SG CTA Index was down 2.36% last month, however, it still remains in positive territory for the year at 2.22%. Trend following strategies have performed well in 2019, but in May the […]