Articles by Michael Watt
ACT hires two from Citi to run platform for high-net-worth clients
Patrick Haberstock and Thomas Walcher have joined ACT Currency Partner in Zurich to get a new platform off the ground
Yen volatility drives record turnover, central bank surveys reveal
Volume was up across forex products in the UK and US in April 2013, with just over $1 trillion traded daily in the US and more than $2.5 trillion in the UK
Volcker rule is driving reluctance to hold risk, warn currency managers
US banks are holding less risk as they prepare for the requirements of the Volcker rule, leading to more short-term volatility and less liquidity in some currencies
Libor scandal makes it tougher to hire forex traders
Banks are staffing up for a livelier foreign exchange forwards market, but taint of Libor rigging is limiting pool of new traders
Best provider of FX clearing: Citi
Despite the challenges associated with clearing foreign exchange, Citi wins this award as one of the best-placed banks to succeed when it becomes mandatory
Best FX white-label liquidity service: Saxo Bank
Saxo retains its lead in the white-labelling business, having seen particular traction with private banks over the past year
Best retail platform: Spotware Systems' cTrader
Spotware Systems wins the retail award having successfully launched a platform that challenges the dominance of MetaTrader in the retail market
Regulation deters currency managers from retail FX
Mifid requirements for enhanced transparency and due diligence for retail investors makes retail FX less attractive for some currency managers
Cross-border resolution hinges on trust
Work to develop a cross-border recovery and resolution regime is progressing, but the need for individual regulators to sign co-operation agreements is seen as a potential problem. It boils down to trust – and that worries some participants. Michael Watt…
Banks told they will not benefit from Basel LCR delay
National supervisors tell banks not to lower liquidity buffers, with market forces also pushing banks towards 100% compliance with measure
New rules designed to kill OTC market, says European regulator
Central Bank of Ireland adviser says reforms will cause an "Ice Age" in the derivatives market
Banks suspend dual-currency deposit sales in Japan to re-document under new regulation
Returns on dual-currency and structured deposits will not be covered by state insurance scheme, Japanese FSA decides
Central banks working on liquidity support for CCPs, says BoE’s Tucker
International regulators and central banks trying to avoid "nightmare" of fragmented clearing system
Prices diverge as CVA exemption remains in limbo
Dealers face pricing headache as they wait to see whether Europe's version of Basel III will exempt corporate customers from the CVA capital charge
Dealers pitch loan format for swaps as CVA dodge
Banks are offering to replicate the economics of OTC swaps in loan format - avoiding new capital and clearing rules
FSA: facing up to cross-jurisdiction conflicts
David Lawton, head of market infrastructure and policy at the UK’s Financial Services Authority, talks to Michael Watt
Nomura names Ashley as global head of fixed income
Steve Ashley has been promoted to global head of fixed income at Nomura, with Georges Assi as his deputy
Regulators plan co-ops as answer to OTC fragmentation
CLS Bank-style regulatory council could be applied to trade repositories and CCPs to avert market fragmentation, but French regulators are not convinced
Profile: CLS Bank's Bozian on regulatory co-ops and CCP settlement risk
Regulators are struggling to ensure they have oversight of over-the-counter market infrastructure without losing the benefits of centralisation. CLS Bank’s council of supervisors could be the precedent they follow. By Michael Watt
Anshu Jain to become Deutsche Bank's co-chief executive
Anshu Jain and Jürgen Fitschen to succeed Josef Ackermann in May 2012
Goldman Sachs appoints Lubke as chief regulatory reform officer
Theo Lubke calls time on 15-year stint with New York Fed to join Goldman Sachs.
LCH.Clearnet beats CME in FX clearing race
LCH.Clearnet has signed 13 banks up to a new foreign exchange options clearing venture - ForexClear - due to open for business in late 2011, according to a statement.
Let CCPs compete, Isda conference told
Competing for business will not fatally undermine derivatives clearing – as long as the system is well regulated, speakers claim