Deutsche Bank and Commerzbank will discuss a potential merger. The German Finance Ministry has not commented on reports that it wants the banks to merge.
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.
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.
Bank of Italy Governor Ignazio Visco says fears that the country is unable to reduce debt are keeping borrowing costs high. Overall indebtedness remains principal to the economy, he says.
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".
Officials with the European Central Bank say the EU's plan for greater supervision over clearinghouses violates the ECB's independence, and potentially affects monetary policy decisions and emergency liquidity provisions.
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