Regulation
Report blames Corzine’s strategy for MF Global collapse
Chief executive of collapsed broker at fault for risky strategy that destroyed company, House subcommittee says
CFTC should allow voice trading for Sefs, says Chilton
CFTC commissioner also hints that 15-second rule will be amended - and says final cross-border rules will include a new definition of ‘US person’
Is FX execution changing its colours?
The proliferation of new trading tools and platforms in the foreign exchange market is a welcome development that should enhance the buy-side trading experience, writes Lisa Seim
MarkitServ and Traiana prep pre-trade credit hubs
Post-trade technology providers are vying to build a pre-trade hub that will provide certainty of execution and clearing under new regulation, to be rolled out for rates, credit and FX within months
New rules designed to kill OTC market, says European regulator
Central Bank of Ireland adviser says reforms will cause an "Ice Age" in the derivatives market
Banks rethink clearing structures under CFTC pressure
CFTC rules on conflicts of interest mandate clearer separation between OTC clearing and execution, prompting some banks to restructure their operations
Banks suspend dual-currency deposit sales in Japan to re-document under new regulation
Returns on dual-currency and structured deposits will not be covered by state insurance scheme, Japanese FSA decides
Wanted: the FX sales team of the future
Regulation is changing the job description of the FX salesperson, to the extent that the right candidate now needs a broader set of expertise than in the past
Banks face up to fragmented clearing landscape in Asia
In preparing for mandatory clearing, the priority is to ensure all CCPs across Asia adhere to the same set of standards, says Deutsche's David Lynne
Local trade repositories are necessary, says senior HKMA official
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
UK FSA issues £250,000 in fines for reporting failures
Regulator clamps down on reporting failures. Fines are the first under new FSA penalties policy.
CFTC could force funds to break US or European law
The CFTC's broad definition of a US person could leave European hedge funds facing conflicting rules
Angling for the Asian frisbee
Regulation was top of the agenda at the FX Week Asia conference, with serious concerns voiced alongside some signs of positivity, writes Joel Clark
Bank of England FX committee hears corporate concerns
Rolls-Royce's assistant treasurer presented at the last meeting of the central bank's FX industry committee on the impact of derivatives regulation on non-financial companies
FX Week Asia: Emerging markets FX moving electronic, say bankers
Client demand for electronic trading in emerging market currencies has risen in recent years, but more progress must still be made, according to senior traders in Asia
FX Week Asia: Sefs and OTFs may be unworkable for NDF market
Speakers at Asia conference warn of the unintended consequences mandatory platform trading could have for non-deliverable forwards
FX Week Asia: Exemptions offer little solace for corporates
Corporate treasurers remain concerned about increased hedging costs as a result of new regulation, and expect banks to pass the costs on – despite exemptions for corporate hedging
Foreign exchange ticks all the boxes, says StanChart markets chief
Forex is becoming the most-sought after asset class for a markets business due to its high return on equity and clear demand, says Lenny Feder, Standard Chartered's head of financial markets
Basel and Iosco under pressure to exclude FX from margin rules
Industry response to proposals released in July on margin for uncleared swaps put pressure on regulators to carve out FX swaps and forwards
More FX platforms to come, says Celent
A new research report from Celent predicts more platforms will launch in the FX market, and that the single-dealer platform will continue to gain in popularity
Esma backtracks on indirect clearing
Final rules remove two controversial proposals, but revive regulators' concerns about access to clearing for small firms
Trade reporting pressure increases as CFTC deadlines loom
DTCC data repository has received provisional CFTC approval, just three weeks ahead of mandatory reporting for credit and rates, with FX reporting due to begin in January
FX committees prepare for platform proliferation
Monitoring trading volumes in the foreign exchange market is an important priority for the central bank-sponsored FX committees, but if liquidity fragments across a handful of new trading platforms, could that analysis become more difficult? Miriam Siers…
European OTC clearing documentation faces delay
Complications over close-out mechanisms and segregation models will delay the European addendum by up to three months, say dealers