FX Markets - 5 Sept 2016
Articles in this issue
Former Barclays trader banned and fined $1.2 million by the Fed
Christopher Ashton, ex-global head of FX spot in London, used 'unsafe and unsound practices' to manipulate FX rates
Sousa to head Nordic sales at 360T
Minna Lehto Sousa replaces Niklas Blide who is retiring
Flax goes to Broadway Technology
Daniel Flax joins the technology provider's professional services in New York
Buy-side FX trading curbed as margin rules take hold
Prime brokers will cut off access to dealers if they fail to agree revised CSAs
FX market activity shrinks for first time since 2001
The BIS's triennial survey of FX markets shows a headline figure of $5.1 trillion, down from $5.4 trillion in 2013
Spot FX is a ‘bankrupt business’ if economics don’t change
The complexity and choice available to participants has increased at the same time as liquidity provision dynamics have shifted, upending previous business models, panellists say
NBLPs face credit challenges as banks protect their role in FX
NBLPs' narrow focus could prove the saving grace as banks' businesses span a wider range of products
Morgan Stanley: a Fed rate hike would be a policy mistake
The US central bank should hold off from raising interest rates for at least a year
China may never open capital account fully, panellists say
2020 target for renminbi internationalisation looks remote as China may join countries with asymetric capital accounts instead
Global Code will level playing field, but more prescriptive regulation on way
Creators of the conduct code will push the initiative through, but supplementary rules will hit parts of FX
UK could be post-Brexit winner in Asia
The country could negotiate bilateral trade agreements more favourable than those with the EU, panellists say
Debelle appointed deputy governor of RBA
Guy Debelle will take up his new role on September 18, replacing Philip Lowe who becomes governor later this month