Current section : Markets

Forex

BoE revamps FX Joint Standing Committee membership

BoE revamps FX Joint Standing Committee membership

The Bank of England (BoE) has recast the terms of reference and membership of a key foreign-exchange industry committee to take account of the growing diversity of the forex market in the UK and the central role that will be played by the new global code of conduct.

FX prime brokerage enters new era

FX prime brokerage enters new era

The past 12 months have seen fees rise in FX prime brokerage, with many admitting there is probably more to come this year – but it has not all been bad news for clients, with the business benefiting from innovation, with technology, and particularly risk-management systems, an increasing priority among providers.

FXPA jostles for relevance in industry group crowd

FXPA jostles for relevance in industry group crowd

Some 14 months after it was created, FXPA – the latest organization to put itself forward as the voice of the FX industry – is confident it is setting policymakers on the path to better market regulation.

Russia payments bid unlikely to be swift

Russia payments bid unlikely to be swift

While irked by western dominance of Swift and determined to assert its monetary independence, the prospect of Russia going it alone on payments and messaging remains remote.

FX: CLS outlines plans for expansion

FX: CLS outlines plans for expansion

CLS, the systemically important FX settlement system, has a number of plans in the pipeline, including an initiative with LCH.Clearnet and a settlement system for currencies outside its proprietary system.

Currency wars: special focus

Currency wars: special focus

Call it what you will – currency war, competitive devaluation, currency manipulation, currency intervention – but central banks are knee-deep in the trenches as they battle to lower their exchange rates and boost their economies.

FX monitoring systems remain in infancy

FX monitoring systems remain in infancy

FX monitoring and surveillance solutions have been beefed up since the fixing scandal broke, but inconsistencies persist in the way in which they are applied and, more generally, new systems lack a harmonized and automated approach.

Yen: special focus

Yen: special focus

The yen has depreciated sharply since Shinzo Abe returned to power as Japanese prime minister last year, promising to loosen monetary policy and weaken the currency in a bid to reflate the economy.

SEFs (swap execution facilities): Special focus

SEFs (swap execution facilities): Special focus

Swap execution facility (SEF) regulations, intended to increase transparency and reduce swap market risk, have been reported to impact market makers’ margins and liquidity, creating wider spreads for end-users.

The future of the RMB: special focus

The future of the RMB: special focus

An in-depth guide to global currency wars; how Beijing is seeking to globalize the renminbi, through currency swaps and trade-financing facilities; the rise of the offshore bond market; and how fee-hungry banks are salivating at the prospect of the RMB’s growth.