Day: May 22, 2017

CLS Expands Third Party Access in Korea

Fund management institutions can now access the CLS system in Korea for the first time via CLS third-party service provider, HSBC.
This announcement builds on the earlier adoption of CLS participation in Korea by other non-bank financial institutions (NBFIs), including a number of leading securities brokers. Third-party participation globally accounts for approximately 22% of the total value settled in CLS and there was a 12% increase in the number of third-party participants using the service in the Asia Pacific region in 2016.

Responding to the Technology Revolution

Technological developments present new challenges to both financial services firms and their staff, warned John Ashworth, CEO of Caplin Systems, at Forex Network London.

In a presentation “The Fourth Industrial Revolution: Society, Finance, Trading & Sales”, Ashworth opened the discussion by questioning the assumption that the advance of technology is unambiguously good for business.

“The notion that an entry level economist would invite you to believe is that technology is a good thing, that technology delivers productivity, that productivity delivers advancement, that opens up new markets, and so forth. The reality is somewhat different,” he said.

A New Dawn?

May 25 marks the release of the full FX Global Code of Conduct, an event that has been much anticipated in FX circles. What will the Code bring to the FX industry and what are the key changes likely to be experienced by participants? Colin Lambert finds out.

It all starts – and to a degree ends – with Annex Three, which sits at the end of one of the more important documents released in the FX industry. A lot has been debated and speculated over as the FX Code of Conduct has been developed by the Bank for International Settlements’ FX Working Group

And Finally…

My colleague Galen Stops and I were recording some material for our podcast series “In the FICC of It” late last week and during this hour or so we made the observation that one of the buzz phrases that seems to be used more and more in the industry (and that we dislike intensely) is “unique liquidity”.
I accept that the FX market does have unique characteristics, participants and flow, but am I sceptical of those claiming “unique liquidity”? You betcha!

Hotspot: A Fresh Approach

Following hot on the heels of its second ownership change in a relatively short time, Hotspot is maintaining the momentum of change by launching new products, specifically outright deliverable forwards. It has also announced a raft of new hires and sought to broaden its geographical footprint. Galen Stops speaks to senior staff at the platform about what these changes – which include the addition of non-deliverable forwards to the platform – are building towards, as well as their view on the changing FX market structure.