Articles by Joel Clark
Industry disappointed by Basel persistence on margin
Lobbyists express concern that regulators appear intent on requiring variation margin to be posted against FX swaps and forwards, despite the costs involved
CLS hires ex-New York Fed veteran to head regulation
Management changes at CLS continue with the appointment of Dino Kos, former head of FX at the New York Fed, as head of global regulatory affairs
EBS and Thomson Reuters merge input prices for FX fixing
The rival platforms have merged the sources for the 30-minute fixing in an effort to raise transparency and accuracy of reference data
Spotlight on: Max Smith, Newedge
In a world where market participants are seeking to reduce risk in trading and ensure efficient clearing, Newedge's global head of FX, Max Smith, believes the firm is uniquely positioned
Basel Committee and Iosco reopen FX exemption debate
A second consultative document from the Working Group on Margining Requirements gives the industry until March 15 to make its case again for an exemption from mandatory margin
Options clearing pushed to 2014 as solution search begins
As the search for a viable clearing mechanism for FX options begins, market participants suggest clearing won't begin before 2014
Mifid transparency rules must be properly calibrated, warns ECB board member
Central banks will have to deal with liquidity shocks in financial markets, so must ensure post-trade transparency rules are well calibrated, says Peter Praet
‘Near-final’ margin rules to be issued within days, says Iosco chief
Secretary general of Iosco confirms that further work is needed to assess the economic impact of margin requirements for uncleared derivatives
FX trading chief to leave Goldman Sachs
Nick Burgin, global head of FX trading, is leaving Goldman Sachs after 16 years and will be replaced by Guy Saidenberg, head of emerging markets trading for Emea
Euro outlook 'unpredictable' after recent strength
Despite the resurgence of confidence in the euro since the turn of the year, participants appear to be following the caution expressed by Mario Draghi yesterday over whether the trend is sustainable
Avoiding collateral damage
While it is still not clear which way the WGMR will rule on margin for FX swaps and forwards, regulators face the recurring danger of unintended consequences if they go the wrong way
FX Concepts moves execution to MarketFactory aggregator
New York-based currency hedge fund switched from Thomson Reuters to MarketFactory last month as it seeks to rationalise and simplify the process of aggregating liquidity
EMFX options head exits UBS in Asia
Manu Tripathi has left UBS in Singapore after less than a year as head of EMFX options for Asia
TraFXpure adds Nomura and BTMU ahead of launch
Tradition's new platform now has 11 founder members and has been renamed ParFX as it moves towards 'imminent' launch
Regulators divided over collateral exemption for FX
Delays to the WGMR’s final standards on margin are due in part to disagreements over the treatment of FX, while the Financial Stability Board has called for variation margin to be tackled by a separate standard-setting body
Jefferies hires e-FX sales head
Former head of e-FX sales for the Americas joined Jefferies in New York last week to build out its e-FX business
Standard Bank continues e-commerce build with Caplin Trader
The implementation of a new single-dealer platform at Standard Bank will initially cover FX and precious metals, across spot, forwards, swaps and orders
MarkitServ hires senior relationship manager for FX
Jane Collins started at MarkitServ on Monday, having previously worked at Thomson Reuters for seven years
360T licenses GFI Fenics for options pricing on Tex platform
The Fenics ePricer engine will support options trading on 360T's Tex platform as GFI Fenics broadens out its client base to multibank platforms
UniCredit hires ex-BNP Paribas FX sales chief
The French bank's former head of institutional FX sales joined UniCredit in London on January 14
C-View hires industry veteran to run new rates product
Nick Beecroft started at the UK-based currency manager today and will retain his role as non-executive chairman of Saxo Bank's London board
TraderTools preps new technology as it decouples from smartTrade
TraderTools will roll out a new platform by the end of Q1 in an effort to cut latency and ensure its independence as a forex technology vendor
FX options clearing analysis in final stages
The GFMA's global FX division is understood to be close to completion of its analysis of five years of options trading data - a project that is intended to lead to a solution for options clearing
Senior relationship manager exits Thomson Reuters
Head of interdealer broker relationship management has left Thomson Reuters after seven years