In this week's In the FICC of it podcast, Colin Lambert and Galen Stops discuss the Mark Johnson trial, pointing out that if the current verdict is upheld despite the ongoing appeal against it and ACIFMA's decision to file an amicus brief in support of the appeal, it could have a very significant impact on both the Global FX Code and how the FX industry operates more broadly. They also look at why crypto regulation is unlikely to move as fast as some people in the industry would like, and why this might not be such a bad thing.
Next up, they address the question: do fintechs have an unfair advantage over the banks because of the lighter touch regulatory environment for such firms? This is turn led to the discussion of one particular fintech firm, Symphony, which is viewed by many as a challenger to Bloomberg's chat service, and potentially the terminal model in general. Despite a sound business case for Symphony on paper, the two discuss why this hasn't necessary caused the "disruption" that many imagined. And finally, Lambert and Stops try to wrap their heads around the latest rebrand from Thomson Reuters.