CME Group has added the Colombian peso, the Chilean peso and the Chinese yuan for clearing of interest-rate swaps to "lead in emerging-market swaps clearing." The addition brings to 24 the interest-rate swaps currencies CME clears.
Trading platforms using compression tools have found an unintended benefit: Besides reducing risk, the tools let users conduct a custom trade that precisely matches existing trades. These tools allow swaps trades regular platforms cannot execute, market participants say.
Asia Pacific Exchange has debuted as Singapore's third derivatives bourse with trading of a US dollar-denominated palm olein futures contract to compete with contracts in Malaysia. APEX plans to add other commodity futures and options contracts.
Federal Reserve Vice Chairman for Supervision Randal Quarles is monitoring Amazon and other tech companies that might look to offer banking products, sources say. Amazon has a strong lobbying presence in Washington, and the Fed has limited power to regulate nonbank companies.
Jelena McWilliams has been confirmed by the Senate to be chair of the Federal Deposit Insurance Corp. McWilliams is a Trump appointee expected to help the president's efforts to roll back banking regulations enacted after the financial crisis.
The oft-painted rosy scenario for retirement fails to account for common occurrences that can cast a pall over these years. Robert Laura argues that we should begin preparing pre-retirees for difficulties such as divorce and loss of a loved one while teaching "that there is always a positive message in the mess that they are going through."
Visa and Mastercard plan to combine their payment buttons on online retailers' checkout pages. The Retail Industry Leaders Association, representing retailers such as Home Depot and Walmart, met with regulators to voice concerns over the possibility of higher transaction costs and an anticompetitive environment.
Rover, a Seattle-based online marketplace that connects dog owners with providers of services such as dog-walking and dog-sitting, raised $155 million in its most recent fundraising round, with much of the money earmarked for an expansion in Europe. Of that total, $125 million came from accounts advised by T. Rowe Price.
This year's VCs-to-DC event sponsored by the National Venture Capital Association brought the entrepreneurial ecosystem together with lawmakers on Capitol Hill to talk about policies that help startups, according to Devin Miller, NVCA's manager of communications and digital strategy. "This is the second year in a row that NVCA has held VCs-to-DC/our Annual Meeting in D.C., and we believe that we have found a good formula for convening the ecosystem, connecting our industry with policymakers and strengthening our policy priorities," he writes.
Proterra, a startup that builds electric buses used by transportation agencies, will soon raise $100 million in new capital. The funding will bring the company's valuation to $840 million, according to a Delaware filing.