Day: 30 January 2014

ICBC to Buy Standard Bank’s Markets Business

The Industrial and Commercial Bank of China (ICBC) has increased its effort to build a financial markets business with the acquisition of 60% of the existing issued shares in Standard Bank Plc. SB Plc is a bank wholly owned by Standard Bank via Standard Bank London Holdings Limited, and has full banking licenses and an […]

And Another Thing…

I have not had a tremendous amount of dealings with the body and readers will (as always!) feel free to correct me if I am wrong, but news that the Financial Stability Board is being tasked with investigating and recommending a framework for FX fixings is nothing but good news to me. Yes, it could […]

Fed to Continue Tapering Despite Mixed Market Conditions

The US Federal Reserve has announced that it will continue to reduce its economic stimulus programme in February. It plans to reduce its purchasing of agency mortgage-backed securities (MBS) from $40 billion to $35 billion per month and its longer-term Treasury securities from $35 billion to $30 billion per month. The news that the Fed […]

Industry Quick to React to BaFin Exchange Suggestion

Moving currency trading onto regulated exchanges, as proposed by the head of the German financial authority, has been criticised by market participants. In a telephone interview with Bloomberg, Elke Koenig, president of BaFin, reportedly argued that such a move would make it “far easier” to detect trading patterns that manipulate prices, and suggested moving such […]

Turnover Surveys Reveal Scale of Yen “Bounce”

The world’s FX committees have released the latest semi-annual turnover surveys, for October 2013, which show a sharp decline in activity from April 2013, thus confirming suspicions that the latter month was unduly influenced by a spike in yen trading (Squawkbox, July 29, 2013).  Overall activity across the six centres to report dropped 12.1% to […]