And Another Thing…

As always when I write something vaguely controversial I feel the need to follow up on last Thursday’s column – because some people either got the wrong end of the stick on what I was trying to say or I feel the even greater need to beat them down on their views of last look. […]
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And Finally…

This column is going to sound like it was written for a journal offering something to the left of Stalinism, but some things need to be said and asked. So let’s ask the question – is the UK’s Serious Fraud Office’s dropping of the Libor investigation yet another example of how senior managers are getting […]
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And Another Thing…

The Global FX Committee is to soon embark on its first three year review of the FX Global Code and this represents a great opportunity to clarify – and hopefully eradicate – what I still believe to be the biggest legal risk facing the FX industry. Whereas I think prudent tweaks to the Code and […]
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And Finally…

Thursday’s column elicited quick a bit of feedback – most of it, it has to said, suggesting that I had wasted my time writing it! The strong consensus out there is that the zero brokerage model will not work in foreign exchange. In my defence, I was actually asking the question rather than answering it […]
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FX: A Trading or Data Business?

At the recent Forex Network Chicago conference David Mercer, CEO of LMAX Exchange Group, was interviewed by Colin Lambert about the foreign exchange and crypto market landscapes. This is an edited and abridged version of that discussion. Colin Lambert: There is a view out there that FX is no longer a trading business, how do […]
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And Another Thing…

Those of you who trade with US stockbrokers may have noticed that over the past week trading via the major brokerages (with the exception of Fidelity) has become “free” as these firms eradicated brokerage from their business models. The impact on these firms’ share prices, ironically, was they were clobbered as a result of them […]
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And Finally…

I’ll keep this short as it’s a public holiday in my domicile, so I will just ask the question, how worried should the FX industry be about ESMA’s pondering over including spot FX in its Market Abuse Regulation? Obviously the question has been raised with the European regulator thanks to the ongoing headlines around the […]
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And Another Thing…

It’s been quite a week for me thanks to my digital life being turned upside down (I have never had to deal with so many help desks at one time) and the passing of the founder of my favourite restaurants in London, Dick Barfoot of Sweetings. So with a “vale” to Dick and a gesture […]
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And Finally…

I am wondering how long it will take for the global authorities to work out that their regulatory regime has made conditions in financial markets worse – someone told me once there is nothing more dangerous that ill-thought our regulation and I think we might be seeing that play out in markets. We have been […]
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And Another Thing…

I am struggling to find someone who was not surprised by the BIS data on Monday, I think most of us who study the FX committee semi-annual data closely expected somewhere around the $6 trillion mark, but obviously it blew through that by another 10%. This very much reflects the growth in emerging markets to […]
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