editor's corner

  • Recovering from rate-fixing scandals, FX industry forms trade group

    A wide cross-section of foreign exchange industry players has joined forces to form a currency markets trade group as the FX industry rehabs its image following rate fixing scandals. The group, called the Foreign Exchange Professionals Association, says it will use education, research and advocacy to advance "a sound, liquid, transparent and competitive global currency market."

BNY Mellon exits derivatives sales and trading as regulations affect costs

BNY Mellon is exiting the derivatives sales and trading business that has been part of its Global Markets group, the company said on Monday. The Wall Street Journal cited regulatory developments surrounding derivatives as a factor in the firm's decision.


Goldman-led open source chat service makes its debut

The much-anticipated chat service that Goldman Sachs has been rumored to be working on with startup messaging company Perzo was formally announced Wednesday under the brand name Symphony.

Finra moves forward with CARDS, outlining proposed data collection elements

The Financial Industry Regulatory Authority (Finra) has published its proposal for implementing its controversial Comprehensive Automated Risk Data System (CARDS). The proposal outlines a phased-in approach to building the system and details the types of data that will be collected from the industry.


Liffe soft commodities now on ICE platform, completing first phase of transition

Liffe London's soft commodity futures and options contracts are now listed on ICE Futures Europe, completing the first phase of Liffe's transition to the ICE trading platform. The ICE trading platform is also home to ICE Futures US soft commodity futures and options, marking the first time that global soft commodities are available side by side on the same platform.

Significant global trading activity is accessed by just 10 data centers

A significant amount of the world's trading activity is accessed by just 10 data centers in or around New York, Chicago, London, Frankfurt and Singapore, according to a recent TABB Group report....

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Smaller companies are too often ignoring the standard tags put forth by the FASB and approved by the SEC, the new chief economist of the agency, said Tuesday.


Higher PBGC premiums, coming change in mortality table add to companies' interest in offloading pension obligations.