Regulation
Buy-side firms await regulatory clarity
Many buy-side firms are still holding back on introducing systems and processes for central clearing – but time might be running out
Intervention: friend or foe?
If the trend is your friend, is central bank intervention your enemy? The answer is not so clear cut, say Christopher Cruden and Purnur Schneider, not least because of the breadth of interventions, which challenges attempts at uniform analysis
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If anyone needed any more reason to seriously think about employing a foreign exchange policy, then September should just about have done it.
Regulation will reshape FX liquidity, says Rule Financial
Uncertainty about regulatory changes could hurt liquidity in the first instance, but the advent of Sefs might cause trade volumes to rise, according to consultants
Academic opposition to FX exemption debated at Isda’s Europe conference
Speaking in London on September 20, Craig Pirrong supports the unpopular position of fellow academic Darrell Duffie that FX swaps and forwards should not necessarily be exempt from the mandatory clearing requirements of the Dodd-Frank Act, as recommended…
Understand your contract of employment
Banks typically write confidentiality clauses into employment contracts, as well as restrictive clauses preventing former employees from approaching clients and staff. But do these clauses stand up in court? By Andrew Young
Long Swiss franc players hit by SNB move
Sudden depreciation of the Swiss franc, following an SNB announcement last Tuesday that it would buy unlimited amounts of foreign currency, has left some participants nursing hefty losses.
SNB faces battle to maintain franc currency floor
Swiss National Bank pledges to set minimum euro exchange rate at Sfr1.20, but analysts express concern over central bank’s ability to maintain exchange rate floor
Oanda continues to boost global presence with Japan operation
Oanda chief executive Michael Stumm attributes the decision to open operation in Japan to regulatory changes
Taking stock of 2011: Regulation and clearing
The Group of 20 meeting in September 2009 laid out a set of requirements on clearing, trading and reporting of OTC derivatives. Two years on, plenty of progress has been made – but a number of outstanding issues remain. By Chiara Albanese, Farah Khalique…
Afme: From advocacy to implementation
Set up in June 2010 as the mouthpiece of the FX industry as regulators reshaped the derivatives landscape, the mandate of Afme’s global FX division is gradually changing from one of pure advocacy to one of implementation. Miriam Siers talks to the…
Multiple repositories must adhere to common standards, says CPSS-Iosco
International coalition of regulators recognises the likelihood that multiple trade repositories will be set up along global, regional or national lines and sets out recommendations for minimum standards
Regulation is the biggest concern for FX banks, says StreamBase survey
A majority of 52% of respondents to third annual survey cite regulation as their top concern - over and above the growth of competition from high-frequency traders
Sefs lose their painful bite
The prospect of swap execution facilities under the Dodd-Frank Act initially struck fear into the operators of single-dealer platforms facing a possible loss of business. The appearance of the Sef Clarification Act last month, coupled with a changing…
Japan’s new leverage limit will hurt carry trade, says Glenn Stevens
Japan FSA's 25:1 leverage limit implemented on August 1 could kill the popularity of the carry trade for retail investors, says Gain Capital's chief executive
Best bank algorithmic trading technology: Credit Suisse
Credit Suisse's Advanced Execution Services for FX continues to innovate in algo trading and has put a particular focus on helping clients understand and manage their costs
AUDIO: The US Debt Crisis and the Dollar
With only days to reach an agreement to increase the US sovereign debt ceiling, Nick Beecroft, senior markets consultant at Saxo Bank looks at the key risks for the US dollar.
FX Week USA 2011: Delegates talk regulation and technology
Farah Khalique talks to delegates and presenters at FX Week USA about the regulatory and technology trends driving FX markets in 2011
Iranian public votes to switch currency name from rial to parsi
Early indicators from a survey on currency reform show Iranian public favours a change in the Iranian currency's name and denomination, senior official tells Central Banking, FX Week's sister publication
Multibank options platforms proliferate
Alpari’s Daniel Skowronski admits sourcing liquidity has been a challenge since the firm’s options trading platform went live in March
Hungarian regulator suspends iForex licence
Hungarian FSA raises concerns over iForex's risk-reporting to clients and strips licence for six months
DTCC/Swift win FX repository mandate
Both vendors will now move forward to develop the specifications of the FX repository, after winning an eight-month selection process, Afme announced today
FX Invest: US margin proposals could lock down $2 trillion in assets
Requirement for banks to post initial margin when trading with each other will result in huge amounts of liquid assets being locked down, according to analysis by one US prudential regulator
FX Invest: Implications for collateralisation under new CCP model
Saima Farooqi looks at the wave of upcoming regulations relating to central counterparty clearing, and what it means for collateral management