Vanguard, in collaboration with technology provider Symbiont, and in conjunction with Bank of New York Mellon, State Street, and Franklin Templeton, says it is actively exploring the application of distributed ledger technology (DLT) to FX forwards in an effort to increase transparency and workflow efficiencies to the currency market. As part of this pilot, Vanguard has […]
FX benchmark fixes, specifically the WMR London 4pm “close”, have been in the spotlight recently thanks to price action around and during the fixing windows. Colin Lambert talks to Shirley Barrow, global head of benchmarks at Refinitiv about how WM/Reuters Benchmarks are managed – and what it would take to change In spite of liquidity […]
A surprisingly small number of the world’s largest companies employ sophisticated techniques designed to assess and manage their foreign exchange risk, according to a survey by Greenwich Associates. Companies use FX markets to hedge currency risks in the course of their businesses, however, Greenwich says, relative to banks and financials, their FX needs and strategies […]
The Global Foreign Exchange Committee (GFXC) held a teleconference meeting on June 22 to discuss conditions in FX markets, part of which saw the committee focus in on activity around the London WM/R 4pm Fix and issues highlighted by last year’s Bank for International Settlements (BIS) Triennial Survey which revealed an increase in the proportion […]
Euronext FX is changing the distribution methodology of anonymous counterparty identifiers – tags – on its platform. Unless the client (taker) specifically elects to have their identity shared, pre-trade tags will not be provided to liquidity providers after August 1. The use of pre-trade IDs is a sensitive subject in FX markets, with proponents saying […]
The European Commission (EC) has opened an in-depth investigation to assess the proposed $27 billion acquisition of Refinitiv by the London Stock Exchange Group (LSEG) under European Union Merger Regulation. The Commission says it is concerned that the proposed acquisition may reduce competition in trading and clearing of various financial instruments and in financial data […]
