2016: the year Europe moves towards a regulated market

MiFid II, last look and the first Fed rate hike in nearly a decade will be key influences

David Newns at State Street
David Newns, Currenex

Foreign exchange markets are at a point of inflection, both from a macro angle and as an industry, says David Newns, a senior managing director of State Street and global head of Currenex. With the world entering a tumultuous period of geopolitical stress, interest rates diverging in major economies and an unprecedented level of scrutiny in the industry, 2016 looks set to be testing.

"I think we are at a fascinating inflection point: we haven't been in a US tightening cycle for 10 years and many