Regulation
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
Regulators lack common sense, panel tells conference
Market participants shouldn't expect regulatory drive to be over in the next 12 months
FX benchmarks manipulated 10-30% of times, MPs told
Scope of manipulation also similar in other asset classes such as gold markets
MAS to offer overnight renminbi liquidity
Monetary Authority of Singapore says it will launch an overnight liquidity facility for the Chinese currency in July – latest step in growth of offshore market
UK Treasury targets benchmarks, launches market review
Treasury also launches joint review of wholesale markets with BOE and FCA
Osborne speech will not trigger structural changes, say market particiants
UK chancellor George Osborne is set to announce new measures on currency trading tomorrow
Norges Bank poised to complete shift from FX buyer to seller before year's end
Norwegian central bank sends strong signal it will make no foreign exchange purchases this year; analysts predict it to make ‘symbolic shift' to net-seller in Q4
European MTFs fume over CFTC ‘incompetence’
US regulator made ‘dog’s dinner’ of Sef equivalency negotiations
Latam reserve managers experiment with renminbi
Renminbi viewed as an attractive reserve asset in Latin America due to growing business links with China; renminbi statistics may not be showing up in IMF data
Industry united over spot FX definition after EC consultation
Industry wants nuanced position of FX spot settlement length
Standardisation reaches back-office functions
The fragmented nature of FX has made client management on platforms costly and cumbersome
CLS will adhere to US sanctions on Russia
The ruble looked set to become the 18th currency to be settled through CLS, and while both the CBR and the industry utility are committed to the deadline, political uncertainties remain
Industry to meet regulators on FX options clearing plans
Industry plans to arrive at a workable framework for FX options clearing gather steam
Hungary tightens bank FX funding rules
Hungary's central bank aims to smooth out maturity mismatches between long-term foreign exchange loans and the short-term funding banks' use
Currency derivatives - regulating with consistency
The chief executive and chairman of the Wholesale Markets Brokers' Association (WMBA) say regulatory complexities have left market participants in the dark on derivatives
Poynder starts up FMR Advisory
The impact of Emir, Mifid and Dodd-Frank on FX businesses wil be the focus of Robin Poynder's newly launched company
Banks create specialist teams in surveillance "over-reaction"
Banks have tightened their electronic surveillance measures for chatrooms, in a move traders say is creating fear and uncertainty
Deutsche-MAS allegations may go back five years
Monetary Authority of Singapore says it is in touch with Deutsche Bank over its investigation of improper communications between the two, which could be as old as five years