Regulation
EC derivatives consultation stops short of detail on corporate exemptions
BRUSSELS - A consultation paper on derivatives markets infrastructure published on June 14 by the European Commission gives extensive detail on requirements for central counterparties (CCPs) that clear over-the-counter derivatives, but has stopped short…
New rules for new markets
It’s all about the emerging markets managing their exposure to the eurozone. Last week, Hong Kong and Malaysia also moved to offer a common bond-settlement system.
On your marks...
One of the foreign exchange market mega-trends in 2010-2020 will be the use of the Swiss franc as a proxy for the old German mark, says Mansoor Mohi-uddin, global FX strategist at UBS in Singapore
Confusion over regulations continues
The new foreign exchange committee could not have come at a better time, with much confusion over the status of currency derivatives in Germany, following its government’s decision to backtrack on a proposed ban earlier last week.
Germany backtracks on currency derivatives ban
BONN – The German government has reversed on a proposed ban on currency derivatives and equity derivatives.
German short-sell ban snares long euro FX derivatives
Long euro derivatives positions caught up in proposed legislation, while doubts remain over the exemption of market-makers
Naked euro currency swaps face same fate as CDSs in Germany
Germany broadens shorting ban scope
Controversial swaps legislation survives as US Senate passes bill
WASHINGTON, DC - Foreign exchange swaps and forwards counterparties are being included in new rules blocking swaps dealers and major swap participants from federal government support.
Venezuela cracks down on 'parallel' currency market
Venezuelan government stops trading in foreign government bonds in bid to stifle unofficial currency markets; plans for central bank to provide central platform
Coalition team takes over at UK Treasury
The UK's new Conservative-Liberal Democrat coalition government has named its joint treasury team.
Sarb points to pitfalls of exchange rate rigidity
South African Reserve Bank keeps rates flat as inflation outlook remains steady, adviser says exchange rates an important policy tool
Industry disappointed by lack of clout in CCP standards
Dealers complain a long-awaited draft of standards for derivatives clearing platforms fails to address key issues.
Trading Places 17.5.10
Read Trading Places for this week's movers and shakers in the global FX space.
CBRC plugs derivatives
BEIJING - Innovators of derivatives technology have found a backer in Yin Long, deputy director-general in the supervisory co-operation department of banking innovation at the China Banking Regulatory Commission (CBRC).
China draws on Japan experience
The message was clear at the FX Week China congress in Beijing last Tuesday, China will move on its currency, but at it’s own pace.
In Brief, May 3, 2010
What's going on in the FX technology sector.
Brazil raises intervention stakes
Nick Chamie of Royal Bank of Canada in Toronto reports on Brazil’s stance on intervention, as relayed by its finance minster at the Brazil Summit in April, and predicts how this will affect the real
ECB decision could be critical in Greek debt crisis
FRANKFURT – If Greek debt is downgraded again, much will depend on whether the ECB decides to keep accepting it as collateral.
Experts divided over central bank intervention
TORONTO - There were mixed views on the central bank intervention in currency markets seen since the crisis among speakers at the FX Invest North America congress in Toronto last Tuesday.
EU derivatives experts suggest threshold system for corporates
Legislators at the European Commission moved a step closer to determining whether non-financial users of over-the-counter derivatives should be forced to clear trades through central counterparties (CCPs) – a possibility corporates have vehemently…
Clearing exemption too close to call
Exempting commercial hedgers from mandatory clearing could create a loophole for the institutional investors often blamed for driving up commodity prices, according to the chief lawyer for the Commodity Futures Trading Commission (CFTC), reports Risk.net.
Senate reform bill to capture more end-users in OTC clearing requirement
Many more end-users of derivatives would be forced to clear over-the-counter trades with a central counterparty under language contained in the US Senate Banking Committee's latest version of its regulatory reform legislation.
Central bankers see reserve currency future for renminbi
The renminbi will over the long term become a reserve currency, according to a survey of central bank reserve managers carried out by Incisive Media's Central Banking Publications in autumn 2009.
Doubts grow about inclusion of Volcker rule in Senate bill
US legislative experts cast doubt on Volker's rule making it through the Congressional process