Month: December 2019

ISDA Launches Another Ibor Consultation

The International Swaps and Derivatives Association (ISDA) has launched a supplemental consultation on the spread and term adjustments that would apply to fallbacks for derivatives referencing euro Libor and Euribor in the event those benchmarks are permanently discontinued. This represents the fourth consultation on the issue by ISDA in recent years and will also cover technical […]

Crisil Buys Greenwich Associates

S&P Global-owned analytics company Crisil has bought market infrastructure research and strategy firm Greenwich Associates, the terms of the deal were not disclosed. Crisil says the acquisition will complement its existing portfolio of products and expand offerings to new segments across financial services including commercial banks and asset and wealth managers. It adds it will […]

And Another Thing…

The second – and penultimate – Irrational of 2019 is the Event of the Year and obviously this had to be held back to ensure that the Great British public did not don their subversive hats again and surprise at last week’s election. They did not to any great degree (although I don’t recall a […]

A New Approach to FX Liquidity

In a new video interview with Profit & Loss Fred Allatt, managing director — FX sales at INTL FCStone Markets, details how his firm has adapted its model for accessing FX liquidity.  In the interview Allatt reflects on his 15 years in the FX industry, noting that the market has changed significantly in terms of […]

Australian Regulator Seeks Improvement in Banks’ FX Businesses

The Australian Securities and Investment Commission (ASIC) has published a review of its investigation into practices in the wholesale FX market and says that while it has identified conduct and process improvements in banks’ FX businesses, there remain a number of areas in need of further improvement. Specifically, ASIC says that more can be done […]

Fidelity Expands Crypto Business into Europe

Fidelity Investments has announced it is establishing a new entity to serve European institutions investing in digital assets. Fidelity Digital Assets, Ltd. will offer access to enterprise-quality custody and trade execution services for digital assets to investors such as hedge funds, family offices and market intermediaries. This business builds upon the company’s 2018 launch of […]

State Street Announces Digital Asset Pilot with Gemini

State Street has announced a new digital asset pilot in collaboration with Gemini Trust Company, a cryptocurrency exchange and custodian. The pilot is looking to combine Gemini’s custody services with State Street’s back office reporting. Initially, it will perform reporting scenarios on users’ cryptocurrency holdings within Gemini Custody, but it can be adapted to report […]

ACI to Update Exam Suite

ACI – The Financial Markets Association (ACI) has announced it will be updating its examination suite with all new syllabi. This first exam to be updated will be the ACI Diploma for senior foreign exchange and money market dealers, corporate and bank treasurers and senior operations staff. ACI says the diploma “has long been a […]

CLS Data Confirms November Slowdown

The average daily volume (ADV) of FX trades submitted to CLS in November was $1.61 trillion, down 10% compared to October and down 4.2% year-on-year. The ADV of swaps submitted to CLS last month was $1.17 trillion, down 8.2% compared to October, but up 3.9% from November 2018. Spot ADV was $366 billion in November, […]