FX Global Code
Almost half of top LPs yet to publish GFXC disclosures
FX market disclosure remains patchy, fuelling buy-side concerns over transparency
GFXC launches tool to spur buy-side adoption of FX code
Standard-setter aims to overcome “lukewarm” buy-side response with web-based prototype tool
One by one, dealers embrace standardised FX reject codes
Investment Association’s proposed codes finally begin to take hold after Covid setbacks
Barclays scraps additional hold time on last look
With more disclosures expected this month, list of LPs ditching controversial add-on continues to grow
Credit Suisse and Commerz latest banks to ditch hold times
Mizuho also confirms zero last look add-on but MUFG’s policy unclear on the controversial FX practice
What every FX client should be asking their order provider
Commerzbank’s head of eTrading services, Nickolas Congdon, discusses the FX industry’s challenges around FX resting orders, streamlining manual processes and enabling objective order execution
New GFXC chair aims to keep up reform on last look
SNB’s Andréa Maechler urges more liquidity providers and trading venues to address hold times
NatWest Markets scraps last look hold time for e-FX
UK bank joins Citi, Goldman Sachs, Morgan Stanley and UBS in ditching controversial practice
Cboe to cut FX trading response times in half
Incoming policy will give liquidity providers 35 milliseconds to review last look orders
Direction of travel on last look becomes clear
Hold time holdouts likely to fall into line in face of increased regulatory scrutiny
Citi drops last look hold times for e-FX
Bank joins Goldman Sachs, Morgan Stanley and UBS in ditching controversial practice after GFXC clampdown
GFXC names SNB’s Maechler as new chair
Swiss central banker succeeds Guy Debelle
First wave of GFXC cover sheets expected December 17
Greater transparency could lead to tighter last look policies, says Bank of England FX head
Anonymous venues could do more on last look
Platforms could reduce max response times to encourage eradication of additional hold times
Last look: who is axing hold times, who isn’t – and who won’t say
Liquidity providers rush to review trading policies as GFXC redoubles call for zero hold times
GFXC set to tackle reject codes
Co-vice-chair Neill Penney says group will seek to bring clarity to codes assigned to rejected FX trades
Last look guidance receives mixed reviews
Some liquidity providers back GFXC guidance; others say it doesn’t go far enough
Updates to FX Global Code include pre-hedging guidance
GFXC updates 11 of code’s 55 principles, including advice on controversial practice of pre-hedging
Shining a light on FX algo disclosures
FX Markets' new algo database will enable readers to compare offerings from the major providers
New benchmark aims to break 4pm fix hegemony
Siren uses 20-minute trade window in a bid to combat fears of manipulation
FX code adherents may get better pricing, say LPs
If trading platforms show buy-siders’ code status, signatories could see lower prices
GFXC launches public consultation on code review
Comment sought on proposed guidance setting out new disclosure expectations
GFXC sees no changes to code on pre-hedging
Committee rejects calls to set more strict boundaries to controversial practice