And Finally…

I have been keen in the past (appropriately so I still believe) to argue that the FX industry could do much more to help Mark Johnson fight his case and appeal against conviction for misconduct. The judges are apparently now considering whether striking down the conviction would mean a return to the “wild west” in […]
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Five on Friday: What Happened in Markets This Week

Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) US Economy on “Recession Watch” says Morgan Stanley This Tuesday, chief US equity strategist at Morgan Stanley, Michael Wilson, warned investors of a possible upcoming US recession. In a note to clients, using recent data highlighting […]
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State Street Reports Rise in Investor Confidence

The State Street Investor Confidence Index (ICI) showed an increase in confidence of 6.6 points in May. State Street’s Global ICI increased to 79.5 in May, up from 72.9 the previous month. The results found that confidence among North American and European investors improved, with the North American ICI rising from 71.3 to 76.7, and […]
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Report Highlights Major Slowdowns in US Growth

In a recent report from IHS Markit, the Purchasing Managers’ Index (PMI) has revealed faltering US business activity and a slowdown in US private sector output growth in May. IHS Markit’s Flash US Composite PMI Output Index, which accounts for services and manufacturing data from IHS Markit’s PMI surveys, came in at 50.9 in May, […]
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And Another Thing…

I read this week that UBS’ compliance head Markus Ronner believes that while they will inevitably remain high, compliance costs for the banking industry have peaked. There are undoubtedly a host of financial markets’ participants out there who fervently hope he is right, actually if it comes down to it, I hope he’s right! The […]
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And Finally…

Have we finally hit the wall in terms of our willingness, as a broad financial markets industry, to accept the continued race to cut a few microseconds off the speed of trading? I suspect we may have, for as P&L editor Galen Stops’ articles on speed bumps in the listed derivative world have highlighted, this […]
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Not So Fast: A Look at Eurex’s New Latency Mechanism

Galen Stops takes a closer look at the new latency mechanism being introduced to FX and certain equity options products by Eurex, in a bid to improve the order book. Speed bumps seem to be the topic de jour in the listed derivatives markets just now, with the Intercontinental Exchange (ICE) winning approval to implement […]
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And Another Thing…

I may, not for the first time, be reading too much into a brief sentence, but I found it significant in my conversation with Simon Potter, outgoing chair of the Global FX Committee, that when talking about the review of the Code he mentioned “the handling of larger orders” as one area of possible review. […]
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Outgoing GFXC Chair Potter Highlights Ongoing Work

Outgoing Global FX Committee chair Simon Potter remains optimistic about the impact of the FX Global Code and has signalled a busy work schedule for the Committee and its working groups over the coming year. In an interview withProfit & Loss Potter outlines the continuing work of the separate streams established by the GFXC, but makes […]
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P&L Talk Series with BNY Mellon’s John Arabadjis

John Arabadjis, head of markets macro strategy product and analytics at BNY Mellon, talks to Profit & Loss about the challenges associated with mining different data sources to produce new insights for investors. Profit & Loss: You were recently hired by BNY Mellon in the newly created role of head of markets macro strategy product […]
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