Financial stocks suffered a negative day too, with Royal Bank of Scotland, Standard Life Aberdeen and Lloyds Banking Group all closing more than 7% lower. The FTSE 250 also sank on Thursday, closing 2.3% lower, with Virgin Money UK and Crest Nicholson both posting double digit losses. FTSE 100: -3.5% Thursday, -21.8% YTD FTSE 250:…
Read more
Fabrizio Testa, CEO of MTS Markets, said: MTS’s Repo markets have gone from strength to strength, with record volumes last year. However, our clients were keen to be able to deploy the same flexible technology solutions and gain efficiency in the unsecured money markets as well. There was a clear demand from both our clients…
Read more
In recent months we’ve seen the US dollar index (DXY), which tracks the US dollar’s performance against a basket of six other currencies, surging to its highest levels since 2017. This last move higher occurred in tandem with the spreading of the coronavirus across the globe. However, the dollar’s upward path was already well underway…
Read more
Steve Toland commented: We have different workflows coming through from venues like Bloomberg and Tradeweb, whether that’s list trading or portfolio trading, but that buy-side flow is now being automated so the sell-side needs to adapt. Banks need to connect to different venues to support new trading types, and they also need to ensure their…
Read more
Corda Enterprise operates in scalability, low-latency and encrypted and is optimized for business cases requiring institutional grade controls in reliability and availability. The collaboration with R3 will also enhance Nasdaq’s digital assets marketplaces, improving transparency and align with their capital markets counterparts. Cathy Minter, Chief Revenue Officer, R3 commented: Financial institutions are becoming increasingly aware…
Read more
Overall, US markets enjoyed a significant rally on Wednesday, with the S&P 500 gaining 2.7%. Notably, the Nasdaq Composite is now less than one percentage point away from being back to where it started 2020. The Nasdaq was led higher by 8% plus gains from Micron, Marriott, Alphabet (Google’s parent) and Align Technology. S&P 500:…
Read more
The rallies after bear markets make up most of the gains over the years. You have the advantage of “convexity” which is a fancy way of saying that the recovery is a much bigger percentage than the loss – for example if the market sells of by 1/3 (33.3%) and then you invest, you make…
Read more
GOLD Gold price is rebounding and reaffirming the positive mood that followed yesterday’s Fed meeting. Investors remain confident about a relatively quick solution to coronavirus, although it is now abundantly clear that central banks will be forced to print a large amount of money. From a technical point of view, in the middle of April…
Read more
The US charge is being led by the current Presidential administration, which has unveiled its vision for reclaiming US nuclear leadership. The 2021 budget proposes creating a US$1.5B U3O8 reserve through 10 years of purchasing US$150m p.a. (circa 3.75 mlbs p.a.) of domestic U3O8 production. Further congressional approval will be sought to expand this initiative…
Read more
Firstly, clients often do this knowing that they are protected should their account reach a negative balance; either because the protection is mandated by regulators or knowing the difficulty brokers have collecting on negative balances. This gives the client a nearly risk-free trade with a large downside to the broker who still needs to honor…
Read more