Intercontinental Exchange's launch of a bitcoin futures contract on Bakkt has been delayed because of a dispute with the Commodity Futures Trading Commission regarding how Bakkt should be regulated. At issue is how Bakkt handles customers' cryptocurrency funds from the daily, physically delivered contract.
Ryozo Himino, vice minister for international affairs at the Japanese Financial Services Agency, discusses market fragmentation, regulatory progress and which markets could benefit from greater harmonization. A Group of 20 summit is scheduled in June in Japan.
Environmental, social and governance futures offered by Eurex are performing better than the old benchmark for sustainable products because of their focus on low carbon and climate impact, says Magnus Linder, head of derivatives trading at Swedbank Robur. "This sets an interesting precedent that sustainable products can perform better than the old benchmark version," Linder says.
A requirement for shippers to stop burning high-sulfur fuel next year could spark demand for a substitute fuel and change demand in crude oil markets, David Sheppard writes.
The terms for members of four Consumer Financial Protection Bureau advisory boards have been extended from one to two years, and the boards will meet three times a year instead of two. CFPB Director Kathy Kraninger made the announcement Thursday, reversing decisions by former acting Director Mick Mulvaney.
A lawsuit filed by the Federal Deposit Insurance Corp. against Citibank, Bank of New York Mellon and U.S. Bank over the mortgage-backed bonds of a failed Texas bank has been dismissed by a federal judge. The judge said the FDIC had no legal standing to sue, because the agency, which took over the bank in 2009, had sold the bonds.
Reports that Wells Fargo CEO Tim Sloan is about to be replaced are false, said board chair Betsy Duke, adding that Sloan has the unanimous support of the board. A New York Post article said the board had discussed the CEO position with former Goldman Sachs Chief Financial Officer Harvey Schwartz.
Banks would be penalized for refusing to do business with gun manufacturers for reasons outside traditional underwriting under a bill introduced by Sen. Kevin Cramer, R-N.D., and Sen. John Kennedy, R-La. The Freedom Financing Act is in response to recent decisions by banks to limit business with the firearms industry.
Early retirement may appear out of reach for millennials when considering school debt and other factors. But it might still be possible if they're willing to make some adjustments and sacrifices, Pavithra Mohan writes.
Pinterest is responding to the strong demand for new stock issues by picking up the pace of preparations for its initial public offering and has decided to list on the New York Stock Exchange, sources say. The IPO reportedly could come by mid-April.