Industry welcomes UK's FEMR recommendations

FX will become more transparent and processes will be tightened up

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Phil Weisberg, Thomson Reuters

The foreign exchange industry is set for a significant change in the wake of recommendations put forward by the UK's Fair and Effective Markets Review (FEMR), which paved the way for tighter and more transparent processes and changes to practices such as last look and timestamping, market participants say.

Phil Weisberg, managing director and global head of FX at Thomson Reuters, says  the industry is facing a challenge where everybody needs to upgrade their procedures at the same time, and this

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