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Revenue at Deutsche Bank's prime-services unit, which provides specialist services to hedge funds, has fallen for three consecutive years amid rising competition from Wall Street banks, sources say. The decline reportedly has contributed to losses in Deutsche Bank's equity-trading division.
Daylight saving time has created an anomaly in trading data gathered as part of Europe's revised Markets in Financial Instruments Directive, according to studies by Aquis Exchange and BestExHub. "It makes comparing trends between winter and summer near enough impossible," BestExHub co-founder Daniel Mathews says.
Competition among providers of low-cost exchange-traded funds has increased with the launch of nine globally focused funds from Amundi. The ETFs cost 50 cents for every $1,000 invested, while JPMorgan Chase has introduced a stock ETF that charges 20 cents for every $1,000 invested.
JPMorgan Chase analysts predict the three-month Libor will end the year at 2.65%, downgrading a forecast of 2.9%. The change is based on the expectation that the Federal Reserve will not increase interest rates this year.
Credit Suisse wants its wealth-management division to bring in a pretax profit of $2 billion this year, sources say. The move aligns with a focus on private clients for growth as part of a three-year turnaround strategy.
The biggest stock exchange in Spain plans to go live with a blockchain-based assurance platform for collateral pledges by year-end. Bolsa de Madrid says the system has accelerated operations, reduced paperwork and improved risk management in tests.
Standard Chartered analysts see scope for optimism on China's economy, despite a slowdown in industrial production in January and February. They attribute the deceleration to "seasonality and destocking, rather than a continued domestic-demand slowdown".
Cboe Global Markets does not plan to add a bitcoin futures contract for trading this month, though all listed futures remain available for trading. The exchange says it is "assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading".
AFME's 12th Annual European Post Trade Conference will take place on 8 May 2019 at etc.venues, Fenchurch Street, London. Now in its 12th year, the conference is the leading event for the European clearing and settlements industry. The programme is designed by the AFME Post Trade Board and is attended by over 200 senior market professionals representing: European buy and sell side, regulators, policymakers, central banks, and industry service providers. This year's agenda will cover key issues including the impact of Brexit on European post trade; the regulatory outlook including CMU, EPTF and CSDR; and the developments in distributed ledger technology. For more details and to register, please visit www.afme.eu/PT2019.
AFME's 3rd Annual European Compliance and Legal Conference takes place on 2-4 October 2019 in Paris. It will bring together a high-level audience to engage with leading industry experts and discuss key issues shaping the legal and compliance functions in the European financial sector. Individuals will hear from the regulators on the latest developments, network with senior legal and compliance officers and discover how their peers and clients are navigating the new market landscape. This event is designed for European legal and compliance professionals, and the programme has been created by AFME members, regulators and our sponsors. For more details and to register or sponsor, please visit www.afme.eu/CL2019.
This inaugural Asian conference for technology and operations is designed by the industry for the industry where key stakeholders including sell-side, buy-side, regulators, law firms, consultants and media will come together to meet, identify and discuss tech & ops related shared challenges and bring market participants together to help solve these issues. Register now as seats are limited!
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