Regulation
Last look settlement fund could hit $1 billion in US
Class action filing service firm Battea says the fixing pot for claimants may reach $3bn and to expect more last look cases
FCA publishes final Priips rules
“In calculating costs associated with FX, the arrival price must reflect a reasonable estimate of the consolidated price" – FCA
Late LEI registrations might not be ready for January 2018, Gleif says
If firms leave their LEI registration application until the last quarter of 2017, they might not receive their identifier in time
Puth: buy side plays crucial role in FX Global Code adherence
Understanding the services offered by providers will allow clients to exercise caveat emptor rights
IMF data shows limited adoption of renminbi as global reserve
Latest Cofer findings reveal renminbi holdings accounted for 1.07% of global FX reserves at end-2016
Morgan Stanley: markets misjudged ECB’s ‘hawkish’ meeting
Euro’s exchange rate could soon see a correction as markets reprice their ECB expectations
US Treasury fails to brand China a currency manipulator
In its first report on FX policies since Donald Trump took office, US Treasury issues China with a warning only, despite the president's campaign promise
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
CloudMargin hires two to expand sales and client base
The firm boosts its New York and London sales teams in the hope of attracting more sell-side business
GCC: the ‘likely’ definition of Principle 17
The last look battleground hinges on the wording of the practice
China FX reserves inch higher in March
PBoC figures show increase of $3.96 billion, resulting in the second consecutive monthly reading above $3 trillion
Goldman’s new terms may as well say 'f@*k you' at the top, participant says
Goldman Sachs sends clients updated terms-of-dealing document signalling asymmetric last look is alive and kicking
CORRECTION: Principle 17 on last look will be subject to review
FX Week incorrectly stated that Principle 17 related to pre-hedging rather than last look
Jury acquits two over Libor manipulation
The two men were cleared of charges of conspiracy to defraud
Esma submits technical standards on non-equity tape
Given the complexity of the non-equity universe, Esma says it has taken a more pragmatic approach to the non-equity consolidated tape
David Puth: Principle 17 will be subject to review
Audio webinar hosted by FX Week and the ACI Financial Markets Association saw more than 100 individuals dial in to ask questions ahead of the Code’s release
Czech National Bank removes koruna cap
After three and a half years, the central bank scraps the floor on EUR/CZK
MahiFX gains FCA authorisation
Watchdog allows MahiFX to offer products and services in the UK
LMAX Exchange is the first to commit to FX Global Code
The change of heart follows reassurance that Principle 17 on pre-hedging will be subject to comment after final release
Markets gear up for end of Czech koruna cap
With inflation at its highest level since 2012, the CNB's change of language leads analysts to herald end of EUR/CZK floor
Fed presidents lay ground for extra rate hike
Evans, Rosengren and Williams all signal the possibility of a fourth rate hike in 2017 if the economy runs hot
Buy-sider brands ASIC agreements laughable
Australian regulator's enforceable undertaking agreements hint at highly divergent rules enforcement globally
SNB updates exchange rate indices calculation
Swiss central bank introduces a more comprehensive and up-to-date methodology
Debelle sets timeframe for adoption of FX Global Code
Market participants will have six to 12 months to adjust practices once the Code is published on May 25