Regulation
Fee fight: dealers take aim at brokerage costs
Old tensions have new edge as banks urge clients to bypass platforms
Debelle: regulation could be ‘helpful’ to FX code
As EU weighs regulation of spot market, GFXC chair dismisses key industry argument
Seeing red over blue-chip swap in Argentina’s NDF fiasco
Emta protocol salve aside, peso settlement rate snafu is a warning for emerging market FX derivatives
Spot FX could be dragged into Mifid II
EC tells FX Markets it is studying Australian-style approach to regulating currency trading
India preps margin regime as parliament debates netting law
Lawmakers thrash out bill on close-out netting; margin rules likely to follow in H1
Stablecoin threat to monetary sovereignty – WEF panel
Panellists discuss delicate balance needed between private and public sector regarding digital money
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
Economists call for action on risk of dollar liquidity crunch
Credit to non-banks and currency mismatches have grown while oversight is “fragmented”, report warns
Rise of the algo wheel
How the buy side is embracing algorithm wheels and where challenges still remain
Asifma: Asian focus on smaller counterparties for IM rules
Initial margin regime, conduct principles and China's lifting of FX restrictions are focus of Asian trade body, says Ball
FX HedgePool: move to clearing may be irresistible
Jay Moore says balance sheet pressures will redefine buy-side credit relationships
Debelle: last look will not be banned
GFXC head says market participants have a choice of whether to use a liquidity provider that employs the practice
Price changes expected as uncleared margin rules bite
Panellists urge buy side to install lifecycle management tools to calculate margin and reconcile payments with brokers
Labour’s tax on UK FX trades lambasted
Opposition party’s pledge to tax FX “50% of transactions costs” will hit jobs and investment, claim trade-cost experts
ECB: Libra a “black hole” of legal certainty
But current global standards fit for purpose to underpin digital assets
AML deadline prompts FCA to warn crypto firms
Regulator says firms must not mislead customers about regulatory status and outlines deadline for registration
Expanding European market abuse regime to FX spot considered problematic
Lawyers and industry group say move would overlap with Global FX Code and create costly record-keeping and reporting burdens
More global custodians approved as FX settlement banks by China
But list of eligible Bond Connect entities incomplete and some global custodians unable to provide CNY funding
IMF officials call for ‘far-sighted’ digital currency regulation
Stablecoins could put weaker currencies at risk and increase illicit activities
Trade reject codes lack clarity – BoE official
Schroders and BoE criticise mish-mash of codes, as Investment Association presses for standardisation
Buy side continues with IM prep despite delays
Firms looking at custodian types, docs and trading strategies to optimise margin
Ripple attempts to pacify US regulators after libra hearings
Payments service provider says crypto assets would be complementary to dollar
Dual IM relief may slash 2020 docs burden by 90%
Isda sees around 8,000 counterparty relationships lifted from phase-five repapering