GARP
European regulator praises Japan’s ‘smart’ NMRF manoeuvre
Comments come after revelation that Nomura is able to reverse NMRF status for risk factors
Hybrids go for gold
Spot gold surge sees investors eye dual digitals on new highs
Sharper economic picture sets scene for dollar swaps rebound
Razor-thin bid/offer spreads and slim post-April trading volumes give way to an uptick in August
Court ruling challenges ‘fiduciary’ role for pre-hedging
Lawyers suggest overturning of Mark Johnson’s conviction questions dealer-client fiduciary relationship
CFTC operational resilience rules have ‘no chance’ of revival
Commissioner Johnson touts framework as response to Ion hack, but lawyers say it misses target
Eurex plans October launch for QIS futures
Long-only European equity strategies will be first out of the gate, with more to come
Solvency II proposal may boost insurer CLO investments
But experts question whether European Commission proposal will draw insurers back to other securitised products
As Fed meets, hedge funds buy ‘lottery’ FX options trades
Options bets reflect cautious pessimism over the dollar ahead of Jackson Hole conference
ECB may force banks to rethink cloud just months after Dora
EU regulator pushes multi-cloud strategy for banks, but guidance will not be binding
FCMs report client queries after Marex short-seller allegations
Chief executive rebutted Ningi Research charges of opaque accounting on quarterly results call
Tribunal upholds spoofing decision despite no ‘smoking gun’
Decision shows trading patterns alone can be enough for UK regulators to demonstrate market manipulation
Hedge before the fix to avoid predatory traders – research
In simulations, slow and steady hedging for 4pm benchmark orders shaved up to 25% from costs
CME boosts FX access via new vendor partnerships
Tie-ups with Trading Technologies and Integral to bring new liquidity into EBS and Spot+ venues
Quants use AI to shush noisy order-book data
Signals from clusters of seemingly informed trading perform better, researchers say
Japan election result sours hedge funds’ yen options bets
Dealers saw flows in significant size for JPY weakness but were forced to take profits
Altice CDS auction may debut lock-up tweak
Separate industry proposal would make permanent a cash settlement fallback
US Fed urged to curb reliance on its own stress-test models
Original architect of DFAST says supervisors should stop putting all their eggs in one basket
Fed hears renewed calls for tuneup of G-Sib surcharge
Failure to revisit 2015 methodology has led to inflated systemic risk scores, experts say
Academic warns of systemic risk from AI-powered trading
Strategies generated by LLMs exhibit “very strange, correlated trading behaviour”, says Lopez Lira
Barr slams weakening of bank supervisory tests
Fed governor warns deregulation during boom times ushers in crises
Jane Street rivals call for wider probes of manipulation claims
Sebi allegations raise concerns about similar behaviour in US and European markets
Traders hedge on Jane Street manipulation claims
Market-makers side with Sebi, while bankers accept arbitrage explanation. Most want more details.
Japan regulator calls on laggards to keep Basel promise
After EU and UK delays – and amid fears of US divergence – Japan is keeping a close eye on its peers, says Shigeru Ariizumi
Derivatives players divided over 24/7 trading
For some, round-the-clock markets are inevitable. Others see “enormous risks”