Regulation
State Street agrees markup settlement – $530m expected
This follows a SEC investigation into the FX rates charged by the bank to custody clients
Policy divergence to remain a theme for two more years
Some currency pairs could go lower if the Fed's hopes for a rate increase materialise, says Wells Fargo analyst
Former UBS and Barclays trader banned for life
Federal Reserve hands industry ban to Matthew Gardiner for "unsafe and unsound conduct" between 2008 and 2013
Abide Financial partners Corvil
Clients will gain top-class precision in time-stamped transaction reporting and full compliance with Mifid II
BoE holds interest rates but hints at action in August
Sterling extends gains as the central bank awaits more economic data from the referendum aftermath
Demystifying MAR in a testing generation
The far-reaching market abuse regulation came into force on July 3
OCC probed for regulatory capture
The agency is among the latest being investigated for a potential soft touch when handling Wall Street firms
CFETS likely to include won and rand in RMB Index
Following CFETS's approval of direct trading on the interbank FX market, the two currencies could soon be included in the basket directly linked to the renminbi
US regulators favour September margin deadline
September 1 rollout threatens bilateral swap-trading chasm between EU and US
'What they do with your money' – could do better
A recent book about financial systems and reforms reveals a worryingly academic approach
Delay US non-cleared margin rules, industry tells Congress
“This puts the US banks at a huge disadvantage relative to the European banks,” says CME’s Duffy
BNY Mellon settles FX case with SEC
US bank agrees to pay $30 million over alleged client overcharging for FX trading services
Renminbi is more flexible and market-based, says IMF
Fund praises the progress made by China's authorities in giving markets greater influence over its currency
Corporate treasuries are starting to feel capital cost pain
After years of stable IRD usage, corporate hedging is getting more expensive and even clearing may not help
House prices complicate outlook as RBNZ holds
Central bank caught between strong New Zealand dollar and rising risks in the housing market; keeps rates on hold
Strong dollar behind economic paradigm breakdown – Shin
BIS head of research points to failure of covered interest parity post-2008, with the strength of the US dollar correlated with the size of market anomalies
China’s FX reserves sink to lowest in four years
Reserves fall by $27.93 billion to $3.192 trillion in May
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
Two more banks publish execution guidelines
JP Morgan and Morgan Stanley disclose their rules on execution and last look to clients
GTX Sef receives CFTC approval
Registration go-ahead replaces temporary nod from US regulators
Global Code must acknowledge inherent conflict in FX
Critics say the FX market is essentially full of contention and a prescriptive approach is needed
Global Code architects pledge to keep principles updated
The FX code of conduct will evolve to reflect market changes
New FX code gains overwhelming support
Code covers ethics, governance, information sharing, execution, risk management, confirmation and settlement
FX employment tribunal cases mount up
Citi and JP Morgan face disputes unconnected with the benchmark scandal