Foreign exchange
UK financial chiefs throw weight behind London’s RMB initiative
London will become the next offshore centre for RMB trading, vows UK chancellor George Osborne, supported by banking heads from Bank of China, Barclays, Deutsche Bank, HSBC and Standard Chartered
Currency floor breach raises questions over SNB policy
The Swiss National Bank should consider enlisting the help of top-tier banks to keep EUR/CHF above 1.20, forex traders suggest
Ice to compete with CME and LCH.Clearnet on FX clearing
Competition in forex clearing intensifies as LCH.Clearnet receives regulatory approval and Ice explains how its rival offering will differentiate itself
Asia Risk FX review and outlook 2012
Asia Risk FX review and outlook 2012
Banks are retreating from market-making, managers warn
Forex investment has became more challenging, as market-making banks facing new regulation have become less willing to take risk, say buy-side firms
Margin rules for uncleared FX rest with regulatory working groups
Regulators must adopt a calibrated approach to mandated collateral so that short-dated FX swaps and forwards are not caught up in the rules unnecessarily, argue market participants
Singapore’s FX exemption welcomed as a sign of global consistency
A proposal by the Monetary Authority of Singapore to exempt forex swaps and forwards from mandatory clearing is seen as a positive move to harmonise treatment of foreign exchange with the US
Latest turnover figures tell positive story for FX, say committee members
Steady volume rises in US and UK indicative of healthy state of foreign exchange markets
LCH.Clearnet’s ForexClear awaits regulatory approval
Forex clearing platform for NDFs is ready for launch, pending regulatory approval, LCH.Clearnet confirmed in its annual report
Icap’s forex e-trading platform to offer outright forwards
Icap’s forex spot and NDF electronic platform, EBS, is looking to diversify into outright forwards and other services this year
Basel guidance on settlement risk delayed until June
Updated guidance on foreign exchange settlement risk from the Basel Committee and CPSS was originally expected by the end of 2011, but now has an expanded remit
FX swap cost could rise from €279 to €2,779 under EU tax, warns Oliver Wyman
Research published today on behalf of the GFMA global foreign exchange division highlights the potentially punitive impact of the financial transaction tax on the forex industry
The lure of leveraged funds in China
Lof out loud
Markets braced for tough 2012 in FX
Market participants share their expectations for a challenging year ahead in the foreign exchange industry
Forex repository aiming for mid-2012 launch, says DTCC
Following the launch of the interest rate derivatives trade repository last week, the Depository Trust & Clearing Corporation confirms foreign exchange and commodities are the next priority
Forex infrastructure providers testing for eurozone worst-case scenario
Panellists at FX Week Europe discuss the implications for the forex market of a possible exit of one or more eurozone members from the single currency
Bank of England sets out code of practice on electronic trading
Members of the FX Joint Standing Committee comment on the recently reviewed Nips code, which includes a new section on electronic trading
O'Sullivan quits SG CIB
Co-head of forex trading has left the French bank after relocating to New York earlier this year
Greek reversion to drachma easier than euro conversion, say analysts
If Greece were to leave the eurozone it would have to establish a new currency in record time; analysts explain how the process would be simpler today due to technological advances
Despite hurdles, clearers map out forex ambitions
Clearing a way for forex
Political crisis in Europe brings volatility back to forex options
Volatility returned to eurodollar last week, as forex traders priced further downside risk into euro options
Despite hurdles, clearers map out forex ambitions
Clearing hurdles