Search Results for: commodity
Regulators fine global banks $3.4 billion in forex probe
November 12th, 2014
Global regulators imposed penalties totaling $3.4 billion on five major banks, including UBS (UBSN.VX), HSBC (HSBA.L) and Citigroup (C.N) on Wednesday for failing to stop their traders from trying to manipulate foreign exchange markets. Royal Bank of Scotland (RBS.L) and JP ...
Banks Said Poised to Settle With CFTC in FX-Rigging Cases
November 11th, 2014
Banks suspected of rigging the $5.3 trillion-a-day currency market are preparing to reach settlements as early as this week with the main U.S. derivatives regulator, according to a person with knowledge of the cases. The Commodity Futures Trading Commission may levy ...
CFTC Further Implements Trade Execution Requirement
November 11th, 2014
The Commodity Futures Trading Commission’s (CFTC or Commission) Division of Market Oversight (Division) announced further implementation of the trade execution requirement for certain interest rate and credit default swaps. The Division previously provided no-action relief for certain swaps required ...
Fed’s Rosengren says fight for higher inflation should be vigorous
November 11th, 2014
The Fed should fight low inflation as vigorously as it would a too rapid run-up in prices or risk the same sort of prolonged slow growth plaguing Japan and Europe, Boston Federal Reserve bank president Eric Rosengren said on Monday. Rosengren, ...
Credit Without Banks: Shadow Banking
November 10th, 2014
One of the vivid lessons of the 2007-2009 recession and financial crisis is that in the modern economy, one can’t just think about the financial sector as made up of banks and the stock market. Other financial institutions can ...
UBS to settle over precious metals misconduct allegations as part of forex market rigging probe
November 10th, 2014
UBS are expected to strike a settlement with financial regulators over allegations of misconduct at its precious metals trading business. The settlement will form a part of a £1.5bn agreement the Swiss lender is due to make with five ...
Wheels Finally Fall Off Russian Ruble
November 10th, 2014
A strong dollar, declining oil prices, and a weak economy have finally taken the wheels off the Russian ruble. It has finally sunk in that the Central Bank is not going to act in defense of the ruble anytime ...
Euro edges higher, stocks sag before ECB meeting
November 6th, 2014
The euro edged higher and European stocks pulled back on Thursday as investors waited to see how ECB chief Mario Draghi responds to another run of poor euro zone data and reports of disquiet about his leadership style. The ...
BHP to test U.S. oil export ban by selling without formal ruling
November 5th, 2014
BHP Billiton Ltd is set to be the first company to export lightly processed ultra-light U.S. oil without explicit permission from the government, further testing the limits of an increasingly contentious ban on foreign sales. Eight months after two ...
GAIN Capital to acquire City Index
November 4th, 2014
New York-based forex trading firm GAIN Capital Holding has entered into a definitive agreement to acquire City Index (Holdings) Limited, a leading online trading firm specializing in contracts-for-difference (CFDs), forex and UK spread betting, for approximately $118 million, or ...
