The financial-services agreement between the EU and the UK after Brexit must be stronger than what has been proposed, Bank of England Governor Mark Carney and UK Chancellor Philip Hammond say. Hammond says he opposes moving euro clearing from London to the EU.
Commodity Futures Trading Commission member Brian Quintenz has called for retaliation against a vote by the European Parliament that could impose an excessive regulatory burden on US derivatives clearinghouses. The US should refuse to grant any EU request for relief from US derivatives rules, he says.
Finance ministers from France and Germany want a financial-transaction tax proposed for 10 EU countries expanded to the whole bloc, minus the UK. The plan would let the tax be deducted from what countries contribute to the EU budget.
The Securities and Exchange Commission's decision to let Depository Trust & Clearing Corp. use a volume-driven fee structure is likely to prompt nonbank traders to clear US Treasurys and repurchase agreements at DTCC unit Fixed Income Clearing because of lower costs, experts say.
An arbitrator has handled well a dispute between National Stock Exchange of India and Singapore Exchange, with both sides getting what they want, at least for now, Mobis Philipose writes. "Rather than react to all the hurly-burly, NSE and SGX can take time to reflect on the damage their decisions have wrought," he writes.
A surge in zinc demand has prompted Multi Commodity Exchange of India to launch a zinc options contract based on zinc futures. MCX says the contract is a hedging tool for stakeholders to manage price volatility.
Although the Labor Department's fiduciary rule is gone, many experts believe the awareness it produced of several important issues is likely to guide the retirement industry for many years to come, notes Scott Gehman, a retirement plan consultant with Conrad Siegel. "Much like the ancient Greek philosophers, perhaps its greatest legacy is in the questions it dared to ask and the conversations it sparked, even if it didn't have all the answers," he writes.
People in their early 50s who haven't started saving for retirement still have time to save enough to make a difference. Here are three tips for making the best of the situation.
The initial public offering of medical device startup electroCore is expected to raise $78 million after pricing at $15 a share. Merck's venture capital arm backs the company.
VIPKID, a Chinese startup that brings English teachers together with students online, raised $500 million in its most recent funding round. The deal gave the startup a valuation that tops $3 billion.