FX Markets - 26 Sept 2016
Articles in this issue
Afex day raises money for rugby charities
Former and current stars of the game battle it out in FX
Bank of England lays out blueprint for RTGS reboot
“Comprehensive rebuild” of the payments platform will retain many core features while boosting resilience and functionality
Fears rise that Asia will miss March 2017 margin deadline
India, Australia, Singapore and Hong Kong have yet to publish non-cleared margin rules
Synechron rolls out cloud-based blockchain applications
Among them is an accelerator for global payments that enables payment to banks in a single reserve
VTB says trades in line with rules at the time, after CFTC fine
US regulator fines VTB $5m for fictitious USD/RUB block trades, but VTB says penalty due to rule change, not non-compliance
Covered interest parity anomaly signals trouble ahead if volatility picks up
Since the financial crisis, a persistent breakdown of covered interest parity signalled an anomaly in the market. Over the last two years the phenomenon has accentuated and policy-makers should not dismiss its meaning, warns the BIS
R3 and Axoni conclude DLT trial for bonds
Proof-of-concept project explores uses for distributed ledger technology for bond issuance processes
SmartTrade launches big data analytics solution
The new solution, called smartAnalytics, will allow clients to generate graphical reports on pre-trade, execution and post-trade performance via a TCA tool
Bonamy joins HSBC in newly created role
New global head of FX and commodities arrives after long tenure at Societe Generale
Banks get partial reprieve in FX lawsuit but claims still stand
Non-settling banks in FX class action lawsuit eke out small victory after US district judge tosses out some allegations of manipulation
BoJ policy shift will do little to stimulate the economy
The Bank of Japan is running out of solutions for its stagnant economy
BTIG snatches Silver from Nomura
Silver is one of two senior hires the firm makes as it continues to expand its FICC team
BoE’s Salmon warns FX industry on adherence
Chris Salmon, the Bank of England's executive director for markets and lead on global code adherence, says regulation could be on the horizon as soon as 2020 if market participants don't adhere to the new Global Code
Salmon warns on adherence as strategic decisions loom
In an exclusive interview with FX Week, the BoE's Salmon floats regulation as a possible vision for 2020; for now last look stays
Corporates expect long-term negative impact of Brexit
45% of corporates domiciled in continental Europe believe Brexit will have a negative impact; with almost 30% of their UK counterparts sharing the sentiment, says a survey by Greenwich Associates
Shay trades Virtu for Nasdaq
Shay was appointed senior vice president and global head of fixed income and commodities
FX markets not positioned for Fed hike
Investors are still sceptical of Fed action, and participants are looking at commodity currencies for better opportunities