Regulation
FSB may publish FX benchmark recommendations before November
The FSB's foreign exchange steering group may recommend changes to infrastructure around benchmarks and wider infrastructure sooner than previously thought
No full disclosure on FX scandal in 2014, says FCA's Wheatley
Martin Wheatley, head of the UK's Financial Conduct Authority, says ongoing investigation unlikely to be concluded this year; laments prevailing culture of ‘ethical flexibility'
Credit Suisse a named defendant in FX antitrust law suit
Credit Suisse is one of 11 named defendants in a US class-action lawsuit that alleges a breach of antitrust laws, but says it hadn't been part of Weko's preliminary investigation and is astonished to be named as part of probe
Buy side steps in as banks tire of delegated reporting
Buy-side firms are offering delegated reporting for clients as banks understood to be weighing up whether to continue offering the service
A lot of work ahead says Marshall Bailey, president of ACI
Marshall Bailey says FX market must learn from current upheaval and prepare for "thinking outside the box"
Analytics firms trawl for evidence in fix, proof yet to be found
The trawl for evidence continues as allegations that traders colluded to manipulate benchmark prices remain unproved
USD/CNH spreads tighten by 30 pips in two years
The renminbi is set to internationalise within the next 10 years, as increased liquidity has narrowed spreads significantly, say central bankers
BoE appoints Lord Grabiner to lead FX investigation
The Oversight Committee has appointed Lord Grabiner for investigation into whether BoE was involved in alleged market manipulation
Carney pledges to push BoE FX investigations all the way
Carney pledges to get to the bottom of allegations that BoE condoned market manipulation in FX markets
European Parliament to lay out final offer on bank resolution
Parliament tries to force Ecofin’s hand after a breakdown in negotiations
FCA best execution review puts 40 firms under spotlight
The FCA's review into best execution practices is set to reveal further malpractice in the retail FX market, say participants
Bank of England informed of fixing concerns in 2006
Chief dealers' sub-group reveals concerns about acitivity surrounding FX benchmarks and the methodology of the 4pm fix
FXCM goes on offensive after £4 million FCA fine
The retail FX broker has criticised other firms in the industry for not passing on price improvements to clients in the week it was fined by the FCA
Known unknowns: preparing for Sef-traded FX options
Robert Gray of Dion Global comments on recent regulatory developments
Half of European corporates unsure if they are caught in Emir
Eight days after reporting started, some 90% of corporates are still not ready
FX industry leans on Emta for Sef benchmark solution
The Emerging Markets Trade Association is in the hot seat to provide Sef benchmark solutions for NDFs
Esma calls for EC to overrule UK on forex reporting
"We need a solution," says Esma spokesman
FX options clearing gains momentum
Discussions on a clearing mechanism for FX options are finally underway
Industry fears lack of strategic focus on OTC data aggregation
FSB report lays out options for OTC data aggregation before considering strategic objectives
Divergence over definition of FX derivatives emerging in EU
Luxembourg allows grace period for FX reporting at last minute
Bank of England has no evidence it 'condoned' FX market manipulation
UK central bank says it has yet to see evidence of press allegations that it condoned market manipulation
Icap revenues down 5% in four months
‘Challenging market conditions’ outweigh robust EM FX trading volumes
Role change for Kinol as Credit Suisse plans new trading venture
Jon Kinol will lead a new electronic market-making project, leaving David Tait as sole head of the bank’s macro products group