Regulation
Banks set aside more than $6 billion for FX fines
Large currency dealing banks prepare to draw a line under the global regulatory probe into currency markets as they brace themselves for fines
G-20 needs to arrest currency wars to stop Asian deflation
Callum Henderson, global head of FX research at Standard Chartered calls for leaders to put a stop to currency wars; says SGD is an ideal candidate for funding relative value carry trades in Asia
UK set to issue RMB-denominated sovereign bond
Bank of China, HSBC and Standard Chartered appointed to help in the issuance of the bond, which will help finance the UK's reserves
Bank of Russia sells $1.4 billion to prop up ruble
Central bank intervenes in foreign exchange market to support currency as it continues to slide against the US dollar; commentators split over prospect of rate hike
FCA investigation becomes systems and controls case
Banks and the FCA have reportedly entered into talks to settle allegations of benchmark manipulation, with the focus turning to systems and controls as regulators struggle to link senior management to complaints
FSB to recommend fix order separation
The recommendations, set to be published within days, will include widening the fixing window and code-of-conduct changes
Industry grapples with uncleared margin rules
Market participants are unhappy with consultation documents released in the EU and the US on the margin requirements for FX swaps and forwards, and the definition of a financial end-user
US court orders Sef-registration rethink
CFTC forced to perform cost-benefit analysis of various Dodd-Frank provisions
FX Focus - The regulation blues
Senior bankers have often derided the Basel Committee’s intraday liquidity measure as an ineffective and burdensome piece of regulatory overkill. Nevertheless, they will be expected to implement it from January 2015. Readiness isn’t perfect, and banks…
Ex-Citi Ramchandani returns to market, joins LCG
Ramchandani's hire follows a period out of the market after he became embroiled in the slew of accusations surrounding the global regulatory probe into currency trading
Carney: shortfall in reserves likely for independent Scotland
Division of UK reserves on GDP basis will leave Scots with 10% buffer – less than half of what is generally considered sufficient ‘to ensure credit flows freely and effectively', says BoE governor
Banks struggle to solve FX conduct issues – Wheatley
FCA admits banks are finding it hard to stop bad practices, while UK ministers raise concerns over bank fines
EUR/USD may hit parity as dollar shows signs of life
Having survived the best part of the year without a particular trend to follow, investment firms are seeing light at the end of the tunnel
CFTC's FXPB reporting rules add to regulatory confusion
CFTC reporting rules, introduced 18 months ago, force FX prime brokers to take evasive action while awaiting clarity
Esma must use FX derivative definition delay wisely – WMBA
Fears that delay risks entrenching confusion over trade-reporting rules
Smooth take-off for collateral reporting
Buy side goes it alone on collateral and valuation reporting
End of Bretton Woods has helped dollar reserves - ECB
Collapse of Bretton Woods System caused significant upheaval of currency reserve trends, says ECB report
RBI's Rajan says the euro is too strong - Central Banking
Rajan says the eurozone is suffering from the same problems as EM countries due to spillover effects
No Sef clarity required for chatroom trading
SuperDerivatives' claim that more clarity is needed by the CFTC on footnote 88 is dismissed by one US-based platform
Time for clock synchronisation - regulators
Global regulators assess the need for a central reference clock to help investigations into alleged abuse of financial markets
FX reserves hit historic highs
Growth in FX reserves continued last year, but at reduced speed
Reconciliation requirements threaten delegated reporting
Another regulatory deadline, another set of headaches for banks and buy-side participants
UK SFO confirms FX investigation launch
SFO becomes the latest authority to join the probe into alleged collusion in FX markets
Need for surveillance accelerates amid scandals
Scandals in various asset classes highlighted the need for greater surveillance on trading systems, says David Hesketh, chief operating officer of the Financial Skills Division of Markit