Global Financial Markets Association (GFMA)
Banks consider sealed trading rooms to reform benchmark procedures
Traders executing fix orders are to be isolated from colleagues to prevent manipulation
No end in sight for Sef confirmation struggles
Nearly 12 months after the last Sef was issued, the CFTC finally offers clarification, which splits opinion
Industry united over spot FX definition after EC consultation
Industry wants nuanced position of FX spot settlement length
Industry to meet regulators on FX options clearing plans
Industry plans to arrive at a workable framework for FX options clearing gather steam
Saidenberg replaces Patrick Boyle on GFMA FX board of directors
Saidenberg takes over from Boyle as GS representative
FX options clearing gains momentum
Discussions on a clearing mechanism for FX options are finally underway
BlackRock threatens to go own way on UTI generation, says industry source
Asset manager takes unusual step of generating unique trade identifiers itself as banks react slowly to challenge
FX clearing a priority for 2014, vows CLS chief
Working with banks and CCPs to facilitate central clearing of OTC FX options is 'high priority strategic initiative' for CLS this year, says chief executive David Puth
Perspectives on 2014: James Kemp, global FX division
As the regulatory pendulum shifts from the US to Europe next year, there will be new challenges ahead, particularly as new trade reporting requirements come into force in February, says James Kemp, managing director of the GFMA’s global FX division
Buy side could miss Emir reporting deadline
Banks are racing to meet a February 12 deadline for trade reporting under European rules, but buy-side firms might not be ready to meet their obligations in time
Sefs battle with confirmations after CFTC relief expires
A second no-action relief period that exempted Sefs from issuing confirmations expired on November 29, leaving FX traders unsure whether Sefs can handle the requirement
FX Week Europe: 'Patchy' liquidity in FX a concern for the future
Concentration in the number of liquidity providers and the reliability of HFT market-making raises concerns for senior industry officials
CCPs face $161 billion liquidity shortfall to clear FX options, GFXD finds
Results of an industry study reveal the scale of the liquidity burden that would fall on CCPs clearing physically delivered FX options – but a net settlement mechanism could reduce the number by 73%
Esma repository approvals fire starting gun for EU trade reporting
Mandatory trade reporting for all asset classes will begin on February 12, but the FX industry is still grappling with the challenges of dual reporting
Dialogue needed on Sef confirmations - GFXD
Following a further CFTC extension for Sef confirmation requirements until November 29, the global FX division stresses the need for dialogue and co-operation with regulators over the next month if the deadline is to be met
ForexClear launches client clearing for NDFs
LCH.Clearnet has launched buy-side clearing of NDFs on its ForexClear platform, a year after it gained approval from the UK Financial Services Authority
HSBC's Boillereau takes the chair of the global FX division
Fred Boillereau stepped into the top role at the industry body earlier this month, succeeding Troy Rohrbaugh
Confusion reigns at dawn of Sef era, say participants
There is still uncertainty over the exact scope of no-action relief issued by the CFTC, and traders warn the same challenges will remain when the relief expires on October 30
CFTC relief welcomed but concerns remain as Sef rules begin
A string of no-action relief letters issued ahead of today's deadline have been welcomed, but some participants believe they still don't go far enough
Industry forced to rethink reporting after Esma rejects GFMA proposal
FX participants must reconsider their approach to dual reporting under Emir, possibly at considerable cost to those already building towards the proposed model
FX options clearing a 'big challenge', warns NY Fed official
Speaking at the FX Invest West Coast conference, the New York Fed's Jeanmarie Davis addressed the challenges associated with clearing and settlement of FX options
GFXD beefs up with senior European hire
Andrew Harvey joins global FX division from Morgan Stanley, tasked to focus particularly on Mifid, Emir and the FTT
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
FTT would ‘drain financial resources’, GFXD research claims
The global FX division is upping its lobbying efforts to have FX derivatives carved out of the financial transaction tax with new research that shows the potential impact of the tax on transaction costs