Articles by Michael Watt
Benchmarking fines could cost banks $40 billion, says Citi
Analysts believe the impact is already priced in as Ficc revenues rise
Esma kicks off NDF-clearing consultation
Timeline for implementation still vague, with options clearing also lagging
FX Focus - Corporates accused of pricing complacency
Corporates are in a pricing ‘nirvana’ at the moment. Hedging is cheap, transparent and easy, but how long will this last? Some treasurers have concerns over complacency towards the impact of market volatility, while regulatory reform could push up prices…
FX Focus - No corporate love for Clobs
Corporates have yet to yield to the charm of central limit order books, as regulatory pressures and pricing issues keep them tied to the request-for-quote model. Meanwhile, swap execution facility liquidity is improving, but worries over market…
FX Focus - Editor's Letter
Senior corporate treasurer warns current 'nirvana' in corporate hedging costs is coming to an end
Would-be Sefs fear ability to access market
On-Sef FX dominated by just five providers, and start-up costs are high
Volatility boosts Ficc revenues at banks as activity surges
US banks cite foreign exchange as source of success as volatility picks up, while trading platforms also report increased activity
EBS hit by outage
Spot platforms down for 25 seconds, affecting London-based traders
Marano joins Gain Capital's GTX
Industry veteran joins from Hotspot FX and will be based in New York
ACI boosts global reach with North American division – ACI America
New body will represent financial markets industry in North America
Corporates resist lure of central limit order books
Pricing and flexbility still have some way to go to drag corporates away from RFQ model
Currency funds continue growth trend
Parker FX Index grows for second month in a row thanks to volatility uptick
Corporates ‘complacent’ over FX hedging costs
Treasurers wrong to believe tight prices will last indefinitely, says senior treasurer at a global technology company
Bloomberg Sef sees $60 billion worth of FX trades in first year
Notional value of $59.78 billion passes through the platform's doors in the last 12 months
Banks consider sealed trading rooms to reform benchmark procedures
Traders executing fix orders are to be isolated from colleagues to prevent manipulation
Volume boost for EBS at last
Volumes up in third quarter, but still depressed by historical standards
Tradition launches African FX futures
Zambian, Kenyan and Nigerian currency futures to be offered on JSE
Nomura axes four in FX
Departures in emerging markets, G-10 trading and sales
Colt expands FX Liquidity Access service
Regional banks hanker after greater FX liquidity
African FX market needs ‘kick up the backside’, say local banks
Volume growth hampered by regulation, but banks cautious towards new product releases
UK benchmark-rigging laws to extend to FX
Government launches consultation on wider criminalisation of benchmark rigging
O’Malia urges CFTC to rethink Sef registration rules
CFTC’s approach has caused ‘mistrust’, says ex-commissioner
New FXCM pricing model to publish ‘raw’ FX spreads
Spreads and commission costs to be separated for clients as FCA reviews brokerage pricing
Internalisation rates intact despite rising volatility
Extreme price swings could force some dealers to rethink their internalisation ratios, but conditions remain benign for now