Regulation
Global Code will level playing field, but more prescriptive regulation on way
Creators of the conduct code will push the initiative through, but supplementary rules will hit parts of FX
Former Barclays trader banned and fined $1.2 million by the Fed
Christopher Ashton, ex-global head of FX spot in London, used 'unsafe and unsound practices' to manipulate FX rates
BIS completes draft of Global Code of Conduct phase two
The FXWG plans to send the document to various FX committees in the coming weeks
Uncleared margin kick-in raises clearing-house rules
In the run-up to the new rules coming into force in the US and Japan, volumes surge on ForexClear
CFTC charges and monitors Deutsche over swaps violations
Agency says incomplete, inaccurate data affects what is made publicly available and the data it uses to gauge systemic risk
Regulators fail to address key issues in FX, participants say
While they see some positives they believe there's still oo many practices open to abuse
China to create own version of FX code
A newly established Chinese FX Committee is working on creating a Chinese version of the Global Code of Conduct, for domestic and foreign banks operating in the onshore market
EU non-cleared margin rules tipped for February
The regime is likely to begin earlier than mid-2017, say regulatory sources
State Street agrees markup settlement – $530m expected
This follows a SEC investigation into the FX rates charged by the bank to custody clients
Former UBS and Barclays trader banned for life
Federal Reserve hands industry ban to Matthew Gardiner for "unsafe and unsound conduct" between 2008 and 2013
Abide Financial partners Corvil
Clients will gain top-class precision in time-stamped transaction reporting and full compliance with Mifid II
Demystifying MAR in a testing generation
The far-reaching market abuse regulation came into force on July 3
OCC probed for regulatory capture
The agency is among the latest being investigated for a potential soft touch when handling Wall Street firms
US regulators favour September margin deadline
September 1 rollout threatens bilateral swap-trading chasm between EU and US
'What they do with your money' – could do better
A recent book about financial systems and reforms reveals a worryingly academic approach
Delay US non-cleared margin rules, industry tells Congress
“This puts the US banks at a huge disadvantage relative to the European banks,” says CME’s Duffy
BNY Mellon settles FX case with SEC
US bank agrees to pay $30 million over alleged client overcharging for FX trading services
Corporate treasuries are starting to feel capital cost pain
After years of stable IRD usage, corporate hedging is getting more expensive and even clearing may not help
Banks fear early rollout of EU margin rules for FX forwards
Industry calls on the European Commission to clarify when FX forwards will be subject to a variation margin requirement
Two more banks publish execution guidelines
JP Morgan and Morgan Stanley disclose their rules on execution and last look to clients
GTX Sef receives CFTC approval
Registration go-ahead replaces temporary nod from US regulators
Global Code must acknowledge inherent conflict in FX
Critics say the FX market is essentially full of contention and a prescriptive approach is needed
Global Code architects pledge to keep principles updated
The FX code of conduct will evolve to reflect market changes
New FX code gains overwhelming support
Code covers ethics, governance, information sharing, execution, risk management, confirmation and settlement