Chris Dodd
Senior UK regulator emphasises importance of aligning European regulation of FX with US, but says it is not top of Esma's agenda
Read this week's Trading Places to catch up on people moves across the FX world.
Dealers in the US could find their market-making and hedging freedom curtailed by a proposed ban on proprietary trading, if the final rules mirror...
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Senior figures from the European Commission (EC) and European Parliament signalled that an outright clearing exemption for forex was unlikely, at an Association for Financial Markets in Europe conference in Brussels held on January 12.
Contradictions in the US regulations slowing down exit from Basel II parallel run
Custodian banks will become the biggest threat to FX prime brokers if clearing is introduced to foreign exchange, according to Jason Vitale, global head of dbClear FX - FX prime brokerage and clearing at Deutsche Bank.
The foreign exchange market needs to address the increasing role of high-frequency traders as market-makers to insure against a liquidity event, says Michael Cross, head of the foreign exchange division at the Bank of England (BoE).
A second flash crash is inevitable while there is no consistency in the rules at exchanges, said delegates at the FX Week Europe congress in London last Tuesday (November 16).
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