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  • Big banks accused of interest rate-swap fixing Thursday, 26 Nov 2015 | 4:08 AM ET
    Wall Street

    A class action lawsuit accuses banks of conspiring to limit competition in the $320 trillion market for interest rate swaps.

  • The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs Group, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse Group, Barclays Plc, BNP Paribas SA, UBS, Deutsche Bank AG, and the Royal Bank of Scotland of colluding to prevent the trading of interest rate swaps on electronic exchanges, like the ones on which...

  • NEW YORK, Nov 25- A class action lawsuit, filed Wednesday, accuses 10 of Wall Street's biggest banks and two trading platforms of conspiring to limit competition in the US $320 trillion market for interest rate swaps. The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs, Bank of America Merrill Lynch, JPMorgan Chase, Citigroup,...

  • NEW YORK, Nov 24- U.S. regulators on Tuesday proposed new rules to limit disruptions in the futures market from high-speed electronic trading by imposing risk controls and safeguards around the use of trading algorithms. The Commodity Futures Trading Commission voted unanimously in favor of proposing the rules, which would affect trading firms, clearing...

  • BEIJING, Nov 24- The time difference between London and Shanghai should not be a barrier to linking the city's stock markets, a senior executive at the London Stock Exchange Group said on Tuesday. Nikhil Rathi was responding to doubts raised by investors, brokers and other exchange executives over a proposed London- Shanghai trading link that would potentially...

  • HONG KONG, Nov 17- A proposed link between the London and Shanghai exchanges will not be a "copycat" of the landmark Hong Kong-Shanghai Stock Connect scheme due to differences in time-zones and investor bases, a London Stock Exchange Group executive said. China and Hong Kong are closer in terms of time gap, while the U.K. and China have a seven or eight hours time...

  • NEW YORK, Nov 16- There has been a "breakdown" in the structure of the U.S. stock market that regulators need to address in order to shore up investor confidence and long-term prospects for the economy, Steven Einhorn of hedge fund Omega Advisors said on Monday. Omega's vice chairman pointed to the volatility on Aug. 24 when the markets opened dramatically lower, with...

  • NEW YORK, Nov 16- Investment Technology Group, which recently paid a record fine related to its "dark pool" trading venue, said on Monday the chair of its board, as well as a board director, would step down as the brokerage transitions to new leadership. Voce Capital and Philadelphia Financial Management of San Francisco disclosed on Thursday that their collective...

  • Nov 16- Intercontinental Exchange Inc, the owner of the New York Stock Exchange, said it would buy commodities trading platform Trayport from BGC Partners Inc and GFI Group Inc for about $650 million in stock. Trayport is a subsidiary of GFI Group, which was acquired by BGC Partners in March. ICE's financial adviser is Goldman Sachs& Co and its legal adviser is...

  • NYSE-owner ICE to buy trading platform for $650 mln Monday, 16 Nov 2015 | 7:47 AM ET

    Nov 16- Intercontinental Exchange Inc, the owner of the New York Stock Exchange, said it would buy commodities trading platform Trayport from BGC Partners Inc and GFI Group Inc for $650 million in stock. ICE said the deal would help it to provide new services to the European over-the-counter energy markets, including power, natural gas and coal.

  • NEW YORK, Nov 13- IEX Group's application to become a U.S. stock exchange does not meet industry standards and regulators should not approve the upstart trading venue's request, which lacks key details on how it's so-called' speed bump' would operate, the New York Stock Exchange has said of its rival. It aims to launch as such early next year, and would compete against...

  • SHANGHAI, Nov 13- Chinese stock regulators raised margin finance requirements on Friday in the name of preventing systemic risk, but kept widely-criticised limits on how much companies price IPOS in place. The amount of collateral required for margin loans would double from 50 percent to 100 percent of the amount borrowed, the Shanghai and Shenzhen stock...

  • HONG KONG, Nov 12- Draft rules to curb high-speed trading blamed for China's summer stock market crash could kill off billions of dollars of investment into China, global banks and investors have told Chinese regulators in a letter. Industry participants who signed off on the letter said it warned Chinese regulators that the proposals would inadvertently...

  • Faced with public outrage, the government is trying to find ways to lower the high cost of living, while the Bank of Israel is looking to boost competition for loans to households and small businesses, which would lower the cost of credit. Under the project that Baudot-Trajtenberg is heading, banks and lenders would send all credit information to a data bank at the...

  • LONDON/ NEW YORK, Nov 10- Goldman Sachs, the biggest standalone U.S. investment bank, shuttered its GSessions electronic bond-trading platform in 2014. BlackRock, the world's biggest asset manager, closed its Aladdin bond trading network after less than a year in 2013. Last spring, Deutsche Boerse, owner of the Frankfurt Stock Exchange, pulled its funding for a...

  • Nov 6- Moody's Investors Service has raised its outlook on Hungary's Ba1 sovereign rating to "positive" from "stable", bringing the country within a whisker of regaining the investment-grade status it lost years ago. The credit rating agency affirmed Hungary's Ba1 rating on Friday. Fitch Ratings and Standard& Poor's also continue to keep Hungary in...

  • CHICAGO, Nov 5- CME Group Inc will consult lawyers on why a jury this week convicted a high-frequency trader in the first U.S. prosecution of the manipulative strategy called spoofing, Executive Chairman Terry Duffy said on Thursday. Spoofing occurs when traders place orders in markets without intending to execute them, as part of a scheme to create the illusion...

  • TORONTO, Nov 4- The rivalry between Canada's TMX Group Ltd and smaller rival Aequitas Innovations Inc is set to intensify as the two exchange operators race to create platforms for the buying and selling of some actively managed funds. The instruments however, can currently only be traded within the Invesco dealer network. One of the sources said Aequitas is...

  • SYDNEY, Nov 3- London copper posted an early rise in Asia on Tuesday, extending gains from the previous day after the export component of a Chinese factory survey climbed. *Three-month copper on the London Metal Exchange was up $14 to $5,139 a tonne by 0131 GMT, building on Monday night's 0.3- percent gain. *Shanghai Futures Exchange copper slipped 0.2 percent to...

  • NEW YORK, Nov 2- Dell Inc is preparing to sell around $10 billion in non-core assets, including software and services, to reduce the heavy debt load it will be taking on to buy EMC Corp, according to people familiar with the matter. Dell, which will assume $49.5 billion of debt once the merger with EMC is completed, has communicated the plan to credit rating agencies in...