Premium Content

Free Two Week Trial
Two minutes to sign up!

Sign Up For Squawkbox
Free Weekly Newsletter

Login Form

Squawkbox

Week Beginning 26th October 2014

Consolidation Begins in the New Swaps Environment?

30th October 2014
Market participants are predicting that there will be consolidation amongst swap execution facilities and related infrastructures

UK’s FEMR Launches ‘Forward Facing’ Consultation

30th October 2014
The Fair and Effective Markets Review (FEMR) established in June by UK chancellor George Osborne and Mark Carney, governor of the Bank of England, has launched a consultation aimed at determining what needs to be done to reinforce confidence in the fairness and effectiveness of the fixed income, currency and commodities markets

SGX Content With RMB Futures Launch

30th October 2014
The Singapore Exchange (SGX) has officially launched renminbi (RMB) futures, with approximately RMB1.1 billion in notional value traded on the first day

Deutsche Bank Names Wisnia Head of FIC Structuring

30th October 2014
Deutsche Bank has appointed Sam Wisnia as head of fixed income and currencies structuring and head of strategic analytics for corporate banking and securities

And Another Thing...

30th October 2014
I am not conversant with the investigative processes of the various authorities around the world, but it seems to me that both sections of the media and those investigating dealer activity around the Fix are getting a little more desperate

How Real is the Threat of Regionalisation for Swaps Trading?

27th October 2014
Following the introduction of SEFs last year, some market participants are now warning that the global swaps markets will become fragmented along geopolitical lines unless there is a greater degree of harmonisation from international swaps regulators. How real is the threat of regionalisation, and what would be its impact on the market?

Banks in Asia Focused on Capital Requirements Over Clearing

27th October 2014
Many banks in Asia are more concerned about new regulations regarding capital requirements than clearing and collateral obligations, say FX market participants in Singapore

GFI Will Review BGC Partners’ Unsolicited Tender Offer

27th October 2014
GFI Group has acknowledged the unsolicited tender offer announced by BGC Partners last week, but urged its stockholders not to take any action until it had completed its review of the terms

Mako FX Aquired by Xenfin; Jones and Patten Depart

27th October 2014
Xenfin Group has acquired the London-based Mako FX Partnership, including the Liquidity Pool platform established under Adrian Patten and Simon Jones

BAML Adds FX and Equity Options to Trader Instinct

27th October 2014
Bank of America Merrill Lynch (BAML) has recently added FX and equity options to its Trader Instinct platform

BoE Chief Economist Indicates Low Rates for Longer

27th October 2014
The Bank of England's chief economist, Andrew Haldane, has indicated that interest rates could remain lower for longer, “certainly longer than I had expected three months ago”

Rabobank FX Traders Depart Bank Following Investigation

27th October 2014
The two FX traders placed on leave by Rabobank following an internal investigation into trading practices are understood to have since left the bank

Bitcoin Developments Continue Apace, With New Currencies and Venue

27th October 2014
The advance of Bitcoin as a broadly accepted currency is gathering pace. In the past week, one Bitcoin exchange launched three new currency markets, while a new exchange was opened in Australia. In New York, proposed restrictions are being challenged in court

Canadian RMB Hub Could Boost Exports to China

27th October 2014
A Canadian Chamber of Commerce report calculates that establishing a Chinese renminbi (RMB) hub – likely in Toronto or Vancouver – could boost Canadian exports to China by as much as CAD32 billion, plus potential discounts on imports totalling CAD2.8 billion

Credit Suisse CEO Sees No Material Issue UK Relating to Fix Probe

27th October 2014
Brady Dougan, Credit Suisse CEO, claims the bank still does not see any material issues relating to its implication in the global FX investigations

IBA Calls for Feedback on Libor Reform

27th October 2014
ICE Benchmark Administration (IBA) has published a summary of the changes it has made to the way the London Interbank Offered Rate (Libor) is calculated

China’s FX Regulator ‘Not Concerned’ About Capital Outflows

27th October 2014
China’s State Administration of Foreign Exchange (SAFE) is “not concerned” over capital outflows, a senior official told a news conference in Beijing last week

Currenex Adds Seven Non-CLS Currency Pairs

27th October 2014
Currenex has expanded its asset coverage by including a range of Asian and Eastern European crosses

Indian Central Bank Warns Companies on Lack of FX Hedging

27th October 2014
The Reserve Bank of India (RBI) might consider making FX hedging mandatory if banks can’t encourage corporates to properly mitigate their currency risk

DGCX CEO Steps Down Due to Ill Health

27th October 2014
Gary Anderson, CEO of the Dubai Gold and Commodities Exchange (DGCX), has stepped down due to ill health

TriOptima Seeks Remedy to TR Mismatches

27th October 2014
TriOptima claims its triResolve service can solve the unmatched trade repository data problem reporting institutions face in European trade repositories

Blackwell Global Deploys FlexTrade

27th October 2014
Blackwell Global has deployed FlexTrade Systems’ MaxxTrader as its full straight-through processing and white label foreign exchange trading system

Pickel, Beeston and Cohen Join Droit in Derivatives Compliance Push

27th October 2014
Droit Financial Technologies, a provider of pre-trade front office and post-trade compliance services for derivatives, has appointed three industry heavyweights to a new advisory board

UK Charities Lose Up to £125 Million Per Year Due to Poor FX Strategies

27th October 2014
UK charities are potentially losing up to £125 million due to insufficient currency procurement strategies and risk management processes, says Ebury, a financial technology company

On the Move

27th October 2014
RBC, HSBC, CIBC, Standard Chartered, Unicredit, JP Morgan

Tech Corner

27th October 2014
A round up of the latest technology news...

And Finally...

27th October 2014
My access to the wider world has been severely restricted for the past two or three weeks, therefore this missive has an element of a retrospective about it, but I wanted to express an opinion so please forgive me for being a week or so out of date…what is going on with this Fix investigation?