And Finally…

Following a recent podcast someone asked me why I thought the FCA’s recognition of the FX Global Code in the UK was so important, as I had stated. I won’t bore you with the full answer – it seems pretty clear to me that if a regulator is going to be guided by the Code’s […]
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And Another Thing…

A fair bit has been made of the latest FX committee turnover surveys showing an increase in activity during a month in which people broadly experienced the opposite. Looking at the FX platform data and April was the worse month of the year thus far for everyone save 360T and Refinitiv non-spot products – and […]
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LSEG and Refinitiv: Deal of the Century or Disaster Waiting to Happen?

Galen Stops gives his take on the five key questions to be asking following the announcement of LSEG’s proposed acquisition of Refinitiv. The news that London Stock Exchange Group (LSEG) is set to acquire Refinitiv in a deal worth $27 billion certainly caused a lot of excitement and intrigue within the financial services industry when […]
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And Another Thing…

In what can only be described as a plea for sanity, this very brief column has only one message – get over it people! In an absolute shocker (yes, that is sarcasm), a group of banks are being sued in the UK over FX manipulation and the use of chat rooms. This seems to have […]
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And Finally…

I think it is fair to say that the London Stock Exchange Group was the dark horse in the chase to buy Refinitiv, after all, LSEG has a long and no-so-proud history when it comes to M&A – over the years it has been mentioned as a buyer of Icap, NEX Group and Deutsche Borse, […]
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And Another Thing…

What to make of the latest round of FX turnover surveys? Obviously the “big daddy” of them all is due in just over a month’s time, but historically the FX committee surveys have done a good job of reflecting what is happening in the world, so why, when so many people are bemoaning the lack […]
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And Finally…

There is still so much “spin” around liquidity, for as we have noted in our In the FICC of It podcast, while the platforms and liquidity providers would have us believe there is no problem, the occasional flash move and, more pertinently I would argue, survey results indicating liquidity remains a very high concern for clients […]
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And Another Thing…

I have often thought that the FX trader dismissals, indeed the entire chatroom related scandal in FX, would make a great case study for business management schools. Over the years I have argued there have been weak, misguided, vindictive, panicky and ill-informed decisions made at management level across a range of organisations that has resulted […]
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The Libra Hearings, Part Deux

So today it was the turn of the US House Committee on Financial Services putting Facebook’s proposed cryptocurrency, libra, under the microscope, and it was a vast improvement on yesterday’s hearing in the Senate. If you haven’t read the key takeaways from that hearing, you can find them here. Full disclosure: I had to run […]
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Key Takeaways from Day One of the Libra Hearings

The US Senate Committee on Banking, Housing and Urban Affairs today held a hearing examining Facebook’s proposed cryptocurrency, libra, and I almost filled up a whole notebook taking notes, which I’ll try and distill into something coherent now. It was fairly compelling, although frequently frustrating and sometimes amusing, stuff. Firstly, it’s worth noting that the […]
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