Articles by Joel Clark
Citi investment in FX pays off as it regains top position
After four years in second or third place, Citi has returned to first place in this year's Best Banks survey as a result of its focus and investment in foreign exchange
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%
Traiana opens Singapore office
New office comes in addition to sales offices in Tokyo and Hong Kong as the vendor looks to ramp up its presence in Asia
Swiss franc floor will remain in place, says UBS FX chief
George Athanasopoulos shares currency predictions for 2014, including an expectation the Swiss National Bank will maintain the 1.20 floor on EUR/CHF
Saxo looks to capture the middle ground of hedge funds
Following a major restructure at the start of the year, the Danish bank is now looking at a new growth area - the delivery of multi-asset class support services, including capital raising, to emerging hedge funds
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
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
High-profile CIO exits FXall after 18 months
Steve Rubinow, who joined FXall as chief information officer shortly before it was acquired by Thomson Reuters last year, has left the company
When chatter could be construed as collusion
The FX benchmark scandal is casting a dark cloud over the industry, but regulators face a difficult task in determining whether there was genuine collusion
TriOptima unveils UTI pairing service for Emir reporting
Icap-owned technology provider seeks to tackle the dual reporting challenge for paper-confirmed trades and FX trades without a common ID
SGX closes in on FX futures launch
Singapore Exchange plans to launch FX futures in six currency pairs on November 11 as it looks to gain an edge on rival exchanges that have been delayed in launching the product
FX benchmark probe gathers pace as chief dealers placed on leave
Senior spot traders at JP Morgan, Citi and Standard Chartered have all been placed on leave, while Barclays, Deutsche Bank and UBS confirm they are conducting internal reviews in connection with alleged manipulation of FX benchmarks
State Bank of Vietnam taps Thomson Reuters for FX monitoring system
Vietnam's central bank takes a step forward in increasing transparency and reporting in its foreign exchange market
Icap hires CME’s Paulhac to head up Sef
CME Group's senior managing director for interest rate and OTC products and services is jumping ship to Icap to run its Sef
European regulatory chief to leave CLS
Gabor Butor, head of European regulatory affairs, will leave CLS at the end of this week after two years
FX platforms divided on management of costs and speed
Officials at EBS, LMAX Exchange and State Street Global Exchange debate key issues facing new and incumbent platforms during a live webinar
Chaotic birth of Sefs drives NDF trading off platforms
The first two weeks of Sef trading have seen some trading volume in non-deliverable forwards migrate to single-dealer platforms and voice brokers to avoid the rules
Clearing of physical FX in China and India a concern, says GFXD’s Ngai
Global FX division managing director David Ngai warns of the challenges associated with centrally clearing physically delivered FX products
Progress of RMB internationalisation ‘spectacular’, says SFC official
Speaking at the FX Week Asia conference, deputy chief executive of Hong Kong regulator highlights the importance of continuing to internationalise China's currency
FX Week Forum: Central banks and FX reserves
In the latest in the FX Week Forum series, Joel Clark talks to Steven Saywell, global head of FX strategy at BNP Paribas, about trends in central bank reserve management and the IMF's latest set of reserves data
US Bancorp looks to build out FX options and technology
Jay Green, head of FX trading at US Bancorp in Chicago, has a mandate to expand into options after joining the bank from Morgan Stanley last year
BNP Paribas hires UBS sales veteran
Sally Francis has joined UBS as head of FX investor sales for Emea, based in London
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
Citi to donate a dollar per million of platform volume to charity
E for Education initiative will see a proportion of revenue from Velocity in the fourth quarter handed over to six charities globally