Financial Conduct Authority (FCA)
Dutch regulator in new push on algo manipulation
AFM teams up with Oxford Uni academics to develop data models that will identify “harmful” collusion in automated trading
BNPP, BofA and Nomura ditch last look add-on
Majority of top 25 LPs have now removed hold times as regulators step up scrutiny of controversial practice
Regulated UK crypto firms fear authorisation Groundhog Day
Industry wants grandfathering in new Treasury framework to avoid business continuity risk
Disclosed FX venues could be next to demand code compliance
Pressure mounts on trading houses to follow anonymous platforms and make compliance mandatory
How requests for quotes could amount to ‘insider information’
Lawyers say Esma’s incoming pre-hedging guidance could make firms liable for multimillion-euro fines
BNY Mellon, NAB and RBC latest to ditch additional hold times
Banks join growing list of LPs to have scrapped the controversial practice
UK offers six-month margin reprieve for China netting sweep
Transition period falls short of Isda’s 18-month request, Hong Kong mulls similar relief
Almost half of top LPs yet to publish GFXC disclosures
FX market disclosure remains patchy, fuelling buy-side concerns over transparency
In a bit of a fix: Refinitiv seeks ideas to improve WM/R
Operator launches consultation following criticism of 4pm fixing rate
Crypto industry faces ‘fork in the road’ over sanctions
Bow to policy-makers’ concerns about sanctions evasion or face reputational damage, says LSEG’s Schwimmer
Market poised for further trading time reductions across ECNs
As Cboe FX halves trade response times, others are expected to follow – for better or worse
Direction of travel on last look becomes clear
Hold time holdouts likely to fall into line in face of increased regulatory scrutiny
FCA move brings regulatory risk to use of hold times
Regulator’s adoption of code, and rejection of extra hold times, means those ignoring it risk scrutiny
Synthetic Libor gets cautious approval as swaps fix
‘Tough legacy’ solution could mop up $2.7trn-equivalent of non-cleared sterling and yen derivatives
UK’s FCA bans crypto derivatives for retail investors
FCA says retail crypto assets have no reliable valuation basis and could increase financial crime
Scrutiny and frictions follow EMS vendors into fixed income
Aggregators are facing resistance from venues and attracting the attention of regulators
FX aggregators flirt with scrutiny over brokerage charges
Making dealers pay for trades raises ‘payment for order flow’ questions
BIS calls for wider adoption of FX Global Code
Yet some industry participants question the benefits of asset managers signing up to the voluntary principles-based document
Trading venues decry disruptors as MTF battle heats up
Unregulated tech vendors accused of operating as de facto venues; claim dismissed as “entirely outrageous”
FCA takes over crypto asset supervision
UK firms must register with regulator to comply with anti-money laundering rules
AML deadline prompts FCA to warn crypto firms
Regulator says firms must not mislead customers about regulatory status and outlines deadline for registration