Feature
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
Mifid delay downgrades workload from unrealistic to challenging
But the task facing firms working to comply with the regulation is still daunting
Negative rates held for too long could lead to a bank run
Panellists say negative rates could have detrimental effects on the banking sector
Possibility of global crisis has resurfaced, panellists say
Attention turns from policy normalisation to the threat of global slowdown
The new FX equation
Firms are scrutinising expenses more than ever, but despite hard times, one market participant believes innovation will drive down costs and "our best days as a market are ahead of us"
Comparing apples and apples
With clients expecting more transparency, it is vital for firms to be in control of costs. The key is determining the true all-in price of execution
Breaking down the barriers
With parts of the over-the-counter FX market acquiring exchange-style characteristics, the exchanges themselves are becoming more customised
Price and perfect execution
Firms are trying to give clients visibility on measuring whether the price they are receiving is a good one, but the cost of execution is variable and hard to pinpoint – and it’s not just about price
Dealer-run platforms face hard choices under Mifid II
MTF, OTF or SI? Three options, but none that banks like
Dodgy discounts: DVA claims fly in cross-currency market
Funding benefits have helped bring down the cost of cross-currency swaps in the past couple of years, but as competition becomes increasingly cut-throat, traders claim their rivals are offering a dodgier discount – the own-credit effects of debit…
For a few dollars more: Japan banks tackle dollar/yen basis jump
The dollar/yen cross-currency basis has widened nearly 50% in recent months due to a surge in demand from Japanese banks and regulatory constraints curbing supply from US dealers. With trading costs soaring, Japanese banks are turning to more exotic…
Grand redesign
Non-bank market-makers are increasingly being viewed as serious players as they set about building customer franchises amid a wide-scale bank pull-back
New model army
With a global code of conduct for FX due in May 2017, industry participants are pushing hard to come together to avoid hard and fast regulation. By Mikael Latreille
Farewell to self-regulation, goodbye self-policing
With a global code of conduct for FX due in May 2017, participants are only too keen to see the back of an unregulated market
A window of opportunity
With opinion split on whether last look is the defender or villain of the piece, FX participants are campaigning to raise standards and boost transparency, but some say the timeframe for action is diminishing. By Alessandro Aimone
All-to-all FX to become commonplace by 2017
The divide between historic tiers of liquidity is rapidly disappearing, shows research from financial consultancy GreySpark
FX Week Asia 2015: the pictures
More than 200 delegates attended the conference at the Westin hotel in Singapore on September 11