New rules aimed at making the world safer from blowups in the $693 trillion derivatives market are poised to drive up costs so much for retirement funds and other users that bankers say they do just the opposite.
BlackRock Inc. says poor liquidity in electronic currency trading is a hurdle in Asia, while voice transactions are essential for Mitsubishi Corp., hampering the use of such platforms in a region trailing the global average.
Citigroup Inc., the second-biggest currency trader, named Richard Bibbey to run its global spot foreign-exchange business as the bank seeks to more closely align its voice and electronic trading of currencies.
The worst financial crisis since the Great Depression is becoming little more than a fading memory for investors in McGraw Hill Financial Inc. and Moody’s Corp., which have risen about three times faster than the broader stock market in the last year.
A walk through Moscow reveals the threats to Western companies of Iran-style sanctions on Russia: Renault cars fill the streets, Zara and Louis Vuitton shops pull in consumers and Carlsberg A/S brews the beer of choice.