Feature
FX lawsuits: the roundup
The number of cases related to conduct in foreign exchange markets has multiplied. Here is our handy guide to developments so far
FRTB threatens dynamic FX hedging of capital ratios
Industry says recent Basel proposals are unclear and retain burden of pre-approval for hedges
Mifid transparency has failed so far, say traders
Poor-quality, inaccessible data and the lack of instruments covered undermine use case
TCA will increase fragmentation, says Sinclair
Execution spreads across more secondary venues as algos seek platforms with least signalling risk, says white paper by MarketFactory
Citi: the bank of 10,000 technologists
The bank's Tel Aviv-based fintech Accelerator programme has seen over 70 start-ups attract more than $300 million in VC money
Asian buy side faces non-cleared margin currency penalty
Global banks charge premium for accepting local securities instead of major currencies
SNB: from floor to ceiling
Swiss National Bank may ‘begin to act as a ceiling on the exchange rate’, says HSBC
IMF warns China over limited progress on reform
Fund notes the challenges posed by the “impossible trinity” are becoming apparent and need to be addressed
FX forwards users drop EU banks over margin rule
Other dealers do not have to collect margin on physically settled forwards
Swissie’s fate now depends on ECB, strategists say
Sudden directional turn in EUR/CHF is a welcome relief for the SNB, even though the move to 1.15 is thanks to the ECB
Thomson Reuters Matching celebrates 25-year birthday
The first electronic broking platform was born on April 29, 1992
Volcker fights back as prop-trading ban comes under attack
Former Fed chair tells Risk.net that calls for total overhaul of eponymous rule are misplaced
Spread-betting groups look east amid regulatory crackdown
As regulators toughen up on spread-betting firms, the race is on to replicate the Japanese model
FX swap margin treatment uncertain ahead of VM deadline
With one month to go, market participants are still unsure how to treat foreign exchange derivatives
China M&A boom presents unique hedging headaches
Crackdown on ‘fake’ deals boosts risk in contingent hedges
European bail-in buffers may stretch market-making capacity
New Basel capital exemptions could be too small if all EU banks have to issue bail-in bonds
China turns to boosting domestic banks on international stage
Country strives to retain control of price discovery after the renminbi's inclusion into the IMF's SDR basket
Ruble emerges as biggest loser in BIS rankings
Offshore trading is slowly picking up, but remains half as much as pre-Crimea levels
Plea bargain may be an option for the HSBC two
But the maximum prison sentence for Johnson and Scott, if they are found guilty, could be 30 years
75% of buy side to use algos in a couple of years, participants say
Best execution requirements and liquidity conditions will drive adoption, according to a survey by Greenwich Associates
Banks fear early rollout of EU margin rules for FX forwards
Industry calls on the European Commission to clarify when FX forwards will be subject to a variation margin requirement
Global Code must acknowledge inherent conflict in FX
Critics say the FX market is essentially full of contention and a prescriptive approach is needed
Market participants expect BIS survey to show FX slowdown
The bank’s 11th triennial survey is under way, with the results due in September
Algo experts caution against too prescriptive regulation
Such laws can do more harm than good, they say, and prevention of market impact is too high a standard