FX Global Code
Volatile FX markets reveal pitfalls of RFQ
Clients urged to mask trading intent; critics warn of subtle sell-side advantages
Applying Mifid to spot FX could backfire, warns MEP
EC would need to make "very compelling case" to draw spot market into wider regime, says Ferber
Debelle: regulation could be ‘helpful’ to FX code
As EU weighs regulation of spot market, GFXC chair dismisses key industry argument
Spot FX could be dragged into Mifid II
EC tells FX Markets it is studying Australian-style approach to regulating currency trading
GFXC eyes trading platform tagging practices
Group may look to standardise language around unique identifiers
BIS calls for wider adoption of FX Global Code
Yet some industry participants question the benefits of asset managers signing up to the voluntary principles-based document
LMAX: bitcoin to break $30,000 in 2020
Exchange head David Mercer foresees more transparent market, freed of “pariah” of last look
Asifma: Asian focus on smaller counterparties for IM rules
Initial margin regime, conduct principles and China's lifting of FX restrictions are focus of Asian trade body, says Ball
Debelle: last look will not be banned
GFXC head says market participants have a choice of whether to use a liquidity provider that employs the practice
XTX: top 10 banks will move to zero hold times in 2020
Awareness and competitive pressures will compel market-makers who have held out to cut holding times
Buy side still not adopting FX Global Code – Debelle
FX committee wants asset managers to embrace standards; shifts focus to algo trading
Call for clarity on last look rejections
Asset managers say holding periods “far in excess” of what is necessary for risk checks
Best Bank Awards: EBS
EBS is voted Best broker for spot FX at the 2019 FX Week Best Bank Awards
Best Bank Awards: Standard Bank
Standard Bank is voted Best bank for South African rand/African currencies excluding ZAR at the 2019 FX Week Best Bank Awards
Bad clocks block FX best-ex
To get a good deal in fast-moving FX markets, buy-side firms need to know the time. Some of them don’t
Algo adoption at inflection point, driven by buy side
Usage in FX is rising, but there are inherent limitations to overall take-up
Insight Investment wary of banks’ last-look claims
Buy side should “team up” in bid for more forex transparency, argues senior trader
BoE’s Hauser urges firms to adapt to FX market fragmentation
Less sophisticated firms are paying much higher spreads, executive director says
Trade reject codes lack clarity – BoE official
Schroders and BoE criticise mish-mash of codes, as Investment Association presses for standardisation
Algo fears spark hunt for neutral checks on FX Code compliance
Banks seek third-party quantitative methods for confirming activities done in their names are aligned with the principles
Kim Winding Larsen becomes new ACIFMA president delegate
Larsen is a long-time Danske Bank employee and ACI member
How the top 50 liquidity providers tackle last look
Uneven disclosure practices are making life difficult for agency algos and ECN trading
Six big FX market-makers call for end to last look
Citadel Securities, Jump and Virtu among those repudiating controversial practice
FX last look: how non-banks stack up
Research shows patchy disclosures plus differences from banks on pre-hedging and rejected orders