Regulation
Exemption for FX swaps and forwards should hold, says GFMA’s Kemp
James Kemp, managing director of the global FX division, talks to FX Week about the biggest regulatory challenges of 2012
FX Week meets James Kemp, GFMA
The managing director of the GFMA's global FX division talks about the biggest regulatory challenges for the FX industry in 2012
FX swap cost could rise from €279 to €2,779 under EU tax, warns Oliver Wyman
Research published today on behalf of the GFMA global FX division highlights the potentially punitive impact of the financial transaction tax on the FX industry
Identifiers will place significant technology demands on industry, say dealers
Progress to create a new set of industry standard codes to identify institutions, products and transactions is moving forward as regulatory reporting deadlines loom, but it remains one of the biggest market structure challenges of 2012 for FX banks,…
Hildebrand scandal leaves Swissie expectations broadly unchanged
Swiss National Bank expected to hold EUR/CHF floor following governor's resignation, but an increase from 1.20 might now be delayed
LCH.Clearnet hires options technology head from BAML
Emanur Rahman will report to CIO Tom Zschach, who also joined from BAML last year
Increase in Swissie floor still on the cards, say strategists
Currency analysts expect the EUR/CHF floor could rise 1.25 or 1.3 by the end of March
ING moves US-based FX trading desks to Europe
The reorganisation will affect roughly 40 employees and is part of the bank’s preparation for new capital requirements
The secret weapons of e-commerce
Banks don't have long left to finalise and implement changes to their single-dealer FX platforms
Review of 2011
As 2011 draws to a close, FX Week looks back on a year in which the decisions of politicians increasingly came to define the direction of major currencies, while the progress of regulatory reform was stunted by missed deadlines and challenging technical…
Corporates fear move to platform trading for FX options
Despite being exempt from clearing and exchange trading requirements in the US and Europe, some corporate treasurers fear they might have little choice but to execute FX options on electronic platforms
Global FX division kicks off outreach programme on trade reporting
Industry outreach sessions focus on preparing institutions to meet reporting requirements for FX contracts, as final CFTC reporting rules expected next week
Spotlight on: Jeffrey Hogan, BGC Partners
BGC’s managing director for business development talks to Joel Clark about the interdealer broker’s voice and electronic broking capabilities in FX, and his extensive work with regulators to ensure new rules for over-the-counter derivatives are…
FX repository aiming for mid-2012 launch, says DTCC
Following the launch of the interest rate derivatives trade repository yesterday, the Depository Trust & Clearing Corporation confirms FX and commodities are the next priority
FX Week Europe: FX clearing has taken an illogical course, panellists warn
Non-deliverable forwards are the current focus for FX CCPs and banks, but panellists point out the risk in those products is negligible
Rationale for clearing all FX products is evident, say CCPs
Speakers at a conference in London discuss the exemption of FX swaps and forwards from mandatory clearing requirements
RMB diversification is ‘strategic’ says Nigeria’s central bank governor
Lamido Sanusi explains why he made the decision to convert 10% of the country’s reserves into renminbi
CME vows to expand NDF clearing by year-end
Expansion of the exchange’s nascent NDF clearing platform to include a broader range of NDFs is set to begin within weeks, according to Roger Rutherford
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
Eurozone members expected to decrease, Bloomberg survey finds
The results of the vendor’s latest industry poll suggest the number of countries in the eurozone will fall within the next five years
Yen expected to remain weak as long as Greek package is implemented
Foreign exchange strategists and traders have judged this week's Japanese intervention a success in weakening the yen, and believe USD/JPY should remain higher as long as the eurozone crisis doesn’t spiral out of control and spark a flight back to the…
AUDIO: The Enronisation of Europe
Nick Beecroft, senior markets consultant at Saxo Bank, discusses the weaknesses in the EU bailout package, and the broader implications of a Greek referendum on the Eurozone
A tax too far?
The European Commission's recent proposal to impose a financial transaction tax from 2014 appears to ignore lessons learned in drafting other recent regulations
Turkish intervention poses threat of inverted currency war
A wave of intervention by Turkey and Poland’s central banks to strengthen the lira and the zloty could lead to an inverted currency war if other central banks follow suit, according to strategists. Chiara Albanese reports