Feature
How tech will transform FX next: what the industry thinks
Market participants identify which sectors they see as ripe for disruption by transformational tech such as AI
Allure of EM currencies grows for investors
Market participants look at strategic plays beyond G10 amid concerns about global growth
Prop traders sound alarm over EU capital regime
Non-banks fear topsy-turvy capital requirements under new rules based on clearing margin
Hope fades for threshold hike in new IM rules
Smaller buy-side firms could still escape compliance burden via expected regulatory guidance
Lingering questions over Mifid II
Nearly one year on from the fundamental changes to Europe’s trading rulebook brought by Mifid II, its overall impact is still unclear
Tokenisation: the flipside of the coin
Turning traditional assets into digitally traded data is much harder than it seems
Beyond payments: central bank digital currencies
Issuance of central bank digital currencies, such as Sweden’s proposed e-krona, could facilitate monetary policy beyond zero lower bound
As Brexit looms, Mifid transparency faces the chop
EU law and equivalent UK draft threaten to split and undermine trade disclosure rules
Day one of a no-deal Brexit: swaps and chaperones
Banks, platforms and repositories tee up EU entities – and dread the repapering crunch that would follow
Libor to become third-country benchmark under no-deal Brexit
UK-based reference rate would need to gain EU approval by end-2019 to avoid “unthinkable” disruption
Dealers sour on Mifid’s systematic internaliser label
SI decisions will take account of tougher pre-trade rules, client demand and Brexit
Asia: the new frontier for global payments
With regulatory barriers lowered, the region is ripe for new entrants
Dealers slam ‘nonsensical’ treatment of FX derivatives
Proposal on US swap dealer threshold rekindles debate on definition of NDFs and window forwards
Peso volatility pulls millennials to currency trading
Interest is incentivising local and international companies to invest in education initiatives to meet budding demand
NDF nightmare: banks seek fix for benchmark ‘mess’
European firms face being barred from using three Asian fixings from 2020, raising concerns about legacy trades
FX lawsuits: the roundup
The number of cases related to conduct in foreign exchange markets has multiplied. Here is our handy guide to developments so far
FRTB threatens dynamic FX hedging of capital ratios
Industry says recent Basel proposals are unclear and retain burden of pre-approval for hedges
Mifid transparency has failed so far, say traders
Poor-quality, inaccessible data and the lack of instruments covered undermine use case
TCA will increase fragmentation, says Sinclair
Execution spreads across more secondary venues as algos seek platforms with least signalling risk, says white paper by MarketFactory
Citi: the bank of 10,000 technologists
The bank's Tel Aviv-based fintech Accelerator programme has seen over 70 start-ups attract more than $300 million in VC money
Asian buy side faces non-cleared margin currency penalty
Global banks charge premium for accepting local securities instead of major currencies
SNB: from floor to ceiling
Swiss National Bank may ‘begin to act as a ceiling on the exchange rate’, says HSBC
IMF warns China over limited progress on reform
Fund notes the challenges posed by the “impossible trinity” are becoming apparent and need to be addressed
FX forwards users drop EU banks over margin rule
Other dealers do not have to collect margin on physically settled forwards