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Thomson Reuters buys WM/Reuters forex benchmark rate calculation biz from State Street

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Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

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How Financial Institutions are Managing Exposure to U.S. Municipals

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Top 100 Banks: Capital Ratios Show Resilience to the Pandemic

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Banking Essentials Newsletter: October Edition


Thomson Reuters buys WM/Reuters forex benchmark rate calculation biz from State Street

ThomsonReuters Corp. has acquired WM/Reuters foreign exchange benchmark ratecalculation business of The World Markets Co. plc from .

Government debt trades made by two former of are now thesubject of an SEC investigation, the FinancialTimes reports.Andrew Lombara, who served as head of U.S. Treasury trading, and Chi Lee, ajunior Treasury trader, reportedly resigned in January after a dispute with thebank's valuation committee in connection with the amount of reserves taken forcertain Treasury trades.

California Attorney General Kamala Harris filed alawsuit againstMorgan Stanley formisrepresentations of complex investments such as residential mortgage-backedsecurities, in which large pools of home loans were packaged together and soldto investors.

Laura Tyson, a director of Morgan Stanley since1997, is not standing for re-election at the company's annual shareholdermeeting next month, according to a recent filing. In addition, the company disclosed that certaintop executives, including CEO James Gorman, saw a decrease in their 2015 paypackages.

CitigroupInc. plans to do more lending in emerging markets such as Turkey,the Middle East and Africa, as local banks become "less aggressive andpricing has normalized," the FT reports,citing Manolo Falco, Citi's head of corporate and investment banking for theEurope, Middle East and Africa region.

In other bankingnews, the board of Muncie, Ind.-based First Merchants Bank NA, a unit of , adoptedfinal resolutions approving the conversionof the bank's banking charter from a national association to an Indianastate-chartered bank.

Japan's Mitsubishi UFJ Financial Group Inc. is looking for acquisitionopportunities in the U.S. and Indonesia, Takashi Oyamada, president of coreunit Bank of Tokyo-Mitsubishi UFJLtd., told Reuters.

In Tennessee, Dunlap-based Sequatchie Valley Bancshares Inc. is Decherd-based

In peoplenews, Robert Stevens intends to resign, effective April 29, from his position asexecutive vice president and chief risk officer at Costa Mesa, Calif.-basedPacific MercantileBancorp and unit Pacific Mercantile Bank.

James Brownson is set to as chairman of Moline, Ill.-basedQCR Holdings Inc. inMay.

CFO Jennifer Cravens March 31 from Cashmere,Wash.-based Cashmere ValleyBank.

In credit unionmerger news, Augusta, Maine-based KV Federal Credit Union with Waterville, Maine-basedHealth First Federal CreditUnion; and Oswego, N.Y.-based Compass Federal Credit Union with Fulton, N.Y.-basedOswego Heritage FCU.

In the broker-dealerscene, BATS Global MarketsInc. has launched the IPO of 11,200,000 shares of its common stock by certainBATS stockholders. The IPO price per share is expected to be between $17.00 and$19.00.

The common shares of Vancouver, Canada-basedCanaccord Genuity GroupInc. were delistedfrom the London Stock Exchange, effective 8 a.m. London time on April 1.

Specialtylender OneMain HoldingsInc. is selling its 47% interest in SpringCastle to certainaffiliates of New ResidentialInvestment Corp. and funds managed by Blackstone Group LP. Moody's OneMain Holdings' ratingsfollowing the deal announcement.

Inother parts of the world

SociétéGénérale SA is considering cutting 128 jobs in itsinvestment banking division, L'Agefi reports,citing a weekly newsletter from union CGT. 

Theday ahead

Early morning futures indicators pointed to a higheropening for the U.S. market. In Asia, the Hang Seng dropped 1.34% to 20,498.92,and the Nikkei 225 fell 0.25% to 16,123.27.

In Europe, as of midday, the FTSE 100 was up 0.76% to6,192.99, and the Euronext 100 increased 0.95% to 862.15.

Onthe macro front

The factory orders report is due out today.  

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