Cboe Global Markets Chairman and CEO Edward Tilly doesn't think major stock exchange mergers have ended. "The synergies that are inherent in a deal in the exchange space -- because at the end of the day these are huge technology companies -- still make sense," he said.
Bitcoin is a "highly speculative asset" that "doesn't constitute legal tender," Federal Reserve Chair Janet Yellen says. She has cautioned investors that bitcoin is "not a stable store of value," while downplaying the cryptocurrency's ability to influence financial markets.
In his latest blog post, IIA President and CEO Richard Chambers shares a list of his blog posts that resonated most with readers throughout 2017. "These top blog posts for the year reflect an eagerness by my readers to expand their knowledge of the profession and improve their service to their organizations," he writes.
It has been a banner year for engagement at Nareit events. Nareit's signature conferences, REITweek and REITworld, attracted more than 4,500 REIT community members. Now is the time to make plans for 2018. Check out Nareit's full lineup of events.
More commodity firms and traders, including BP, ABN AMRO, Mercuria Energy Group, Natixis and Trafigura, are adopting blockchain technology to increase efficiency, changing the way they do business. "Once you've established blockchain and it's working, you will see faster changes, because then the transformation of the value chain becomes an option," said Rabobank analyst Harry Smit.
Hours after the US Federal Reserve raised interest rates, the People's Bank of China increased two rates used in the interbank market. The PBOC raised the seven-day reverse repo rate to 2.5% and increased the 28-day reverse repo rate to 2.8%.
The US Federal Reserve has voted 7-2 to increase its benchmark interest rate by one-quarter of a percentage point to a range of 1.25% to 1.5%. The central bank stood by a forecast of three rate increases in 2018 but omitted from its post-meeting statement previous language of expectation the labour market will strengthen.
The UK urgently needs to negotiate within weeks a "standstill" agreement to keep its relationship with the EU unchanged for several years after Brexit to prevent companies from leaving Britain, the UK Parliament's Treasury Committee says. "It is highly likely that, for certain sectors, including financial services, the 'standstill' transition period will have to be followed by an adaptation period," according to the committee.
Intercontinental Exchange clearinghouses ICE Clear Credit, ICE Clear US and ICE Clear Europe are considering using customer funds to invest in French and German sovereign debt, calling it "comparable to US Government Securities in terms of creditworthiness, liquidity, and volatility". ICE says investment would be done through direct investment and repo agreements.
Investment opportunities are emerging in Greece's industrial and banking stocks as the economy strengthens, while the 10-year government-bond yield has fallen significantly since the start of the year.
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