Bank of England
Global margin standards face further delays
Proposals to collateralise non-centrally cleared derivatives could now be subject to further consultation and impact assessment, having missed the original end-of-2012 deadline
Senior relationship manager exits Thomson Reuters
Head of interdealer broker relationship management has left Thomson Reuters after seven years
Bank of England must promote RMB trading, warns Chinese official
A swap line between the central banks of the UK and China would be a key step towards the growth of offshore renminbi, a former official of the People's Bank of China said yesterday
Head of spot trading exits CBA
The Australian bank has parted company with its London-based head of FX spot trading after 23 years
Photo gallery: FX Week Europe, November 2012
Photos and stories from the FX Week Europe conference, held in London on November 21
Margin for longer-dated uncleared FX would be unpopular, FSA official admits
While the idea behind a maturity threshold for FX collateral requirements makes sense to regulators, FSA speaker at FX Week Europe recognises the industry's opposition
FX Week Europe: Uncleared FX not necessarily more risky, says BoE’s Cross
Proposed rules could result in relatively vanilla FX products attracting disproportionate margin and capital requirements, says BoE FX division head
Low volatility driving FX turnover down, says Bank of England FX chief
Speaking at the FX Week Europe conference, Michael Cross explains why turnover in FX spot is declining for the first time in a decade
No need to panic about collateral supply, says Bank of England
Isda estimates that mandatory clearing and margin could require the posting of up to $30 trillion of initial margin have been inflated, not least because of a likely exemption for FX swaps and forwards, according to a senior BoE official
The jewel in the crown
Despite sweeping changes at a number of investment banks to prepare for regulation and changing market conditions, FX remains a core business for most top-tier banks
Barclays reshuffles in FX strategy
The UK bank's head of global FX strategy has moved to a new role, to be replaced by Jose Wynne
Bank of England FX committee hears corporate concerns
Rolls-Royce's assistant treasurer presented at the last meeting of the central bank's FX industry committee on the impact of derivatives regulation on non-financial companies
Dealers hope for replication of BoE move to two-way CSAs
As the Bank of England prepares to begin posting collateral to its counterparties when trading derivatives next year, FX traders hope other central banks will follow its lead
FX committees prepare for platform proliferation
Monitoring trading volumes in the foreign exchange market is an important priority for the central bank-sponsored FX committees, but if liquidity fragments across a handful of new trading platforms, could that analysis become more difficult? Miriam Siers…
Central banks working on liquidity support for CCPs, says BoE’s Tucker
International regulators and central banks trying to avoid "nightmare" of fragmented clearing system
FX spot volumes in decline, survey results reveal
Average trading volumes in the spot market fell across all major FX centres in April, according to turnover survey results
Insight appoints FX strategy veteran as head of currency
Paul Lambert, head of currency at UBS Global Asset Management, will join Insight Investment in September
Saxo appoints Nick Beecroft to chair London board
Saxo Capital Markets UK has appointed market veteran Nick Beecroft as chairman in London to replace Albert Maasland, who quit in May to join Knight Capital
Del Missier renews pressure on BoE over Libor scandal
Former chief operating officer of Barclays Bank says he was told instruction to submit lower Libor rates came from Bank of England; directly contradicts Bob Diamond’s testimony
Markets recoil as major central banks ease policies
Chinese, European and UK central banks take monetary policy action; moves leave no doubt about gloomy global economic picture as eurozone stock markets fail to rally
QE3 will be positive for GBP
A new bout of quantitative easing might be positive for sterling, but will likely lead to dollar depreciation, argues Adam Cole
Bank of England to post collateral in OTC derivatives trades
BoE thought to be the first major central bank to change policy on collateralisation as it seeks to reduce dealer funding charges
Euro exit testing intensifies
Banks and FX market infrastructures are stepping up their efforts to prepare for a possible redenomination of eurozone currencies if Greece is forced to leave the currency union, but some investors would like to see new contracts to protect them from…
HFT adds value to the forex market, says Bank of England
While the effects of high-frequency trading activity should continue to be monitored, the practice adds value to the FX market, a senior Bank of England official has argued