Month: December 2019

And Finally…

With a reminder to vote for your favourite P&L socks (yes really!) let’s move onto the second of this year’s abbreviated Irrationals – the Headline/Analysis of the Year. I have been known in the past to give strategists and analysts a bit of stick, it is good-natured with a tint of seriousness – there are […]

In the FICC of It

There is plenty for Colin Lambert and Galen Stops to get their teeth into this week as the BIS released a series of papers studying the data in the Triennial FX Turnover Survey. From working out who the mysterious “others” were in the survey, through some initially confusing execution data, to a signalling of the […]

Is FX Still an Attractive Market to Trade?

Although Justin Foley, managing director, head of FX at Gelber Group, concedes that subdued volatility has made FX less interesting for traders in recent years, he says that this state of affairs will not last forever. Foley, who was inducted into the Profit & Loss Hall of Fame earlier this year, explains in a new […]

Sterling Jumps on UK Poll – More to Come?

Sterling has had one of its strongest days for several years, climbing almost 3% versus the dollar following the release of an exit poll from the UK general election signalling a large majority for the ruling Conservative Party. Cable jumped to 1.3330 from 1.3170 on the release of the poll, before climbing higher to 1.3510, […]

Basel Committee Consults on Crypto Regulation

The Basel Committee on Banking Supervision has started a consultation process on the regulatory treatment of crypto assets by publishing a discussion paper on the design of a prudential treatment of these assets. The committee says the past few years have seen rapid growth in crypto-assets, and that while the market is still small relative to […]

Liquidity Holds Up Well as UK Exit Poll Surprises

Market sources say that liquidity in FX markets has held up well following the shock exit poll from the UK general election indicating a much bigger majority for the ruling Conservative Party than expected. Cable jumped from 1.3170 to 1.3350 immediately following the poll, but has since climbed steadily to 1.3500, while EUR/GBP fell from […]

New York Fed Names New Markets Head

The Federal Reserve Bank of New York has announced new senior leaders for its Markets and Financial Services Groups. Daleep Singh has been named executive vice president and head of the Markets group; Lorie Logan has been named executive vice president and manager of the System Open Market Account (SOMA); and Christopher Armstrong has been […]

360T Goes Live with FX Swaps Platform

360T has launched a fully automated FX swaps limit orderbook with mid-rate matching capability, called 360TGTX MidMatch. It offers a fully visible limit orderbook that will allow market makers to stream curves out to two years, while the Swaps Data Feed that 360T has spent two years developing with 20 bank partners, will act as […]

Remember How Technology Changed FX? Now It’s Doing the Same for Crypto

James Banister, CEO of Market Synergy, reflects on how the dynamism of the digital asset space reminds him of the FX industry of yesteryear and talks about how institutional-grade technology is changing these markets. For those of you who weren’t around in the FX market during the ‘90s and early ‘00s, let me tell you […]

And Another Thing…

I was going to start this year’s Irrationals in this column – and I will come to that later, but I can’t let this column pass without a quick mention of the passing of former Federal Reserve chairman Paul Volcker. To many readers he was probably best known thanks to the regulation that bears his […]