The first thing to note is that the In the FICC of it podcast now available in the iTunes Store, so it will be even easier for you to get your weekly fix of our editors, Colin Lambert and Galen Stops, ranting and rambling about all the latest and greatest news in the FX industry each week!
This week’s podcast opens up with Stops quizzing Lambert about the significance of Guy Debelle, deputy governor of the Reserve Bank of Australia (RBA), being named as the next chair of the Global Foreign Exchange Committee (GFXC). Then, following on from his recent discussion with outgoing chair, Simon Potter, Lambert says that he senses a distinct shift appearing in the GFXC’s approach to encouraging adoption of the FX Code of Conduct, with the group more resolved to put pressure on buy side firms to commit to its principles.
This in turn sparks a conversation between the editors about whether it is realistic, or even desirable, for platform providers to publicly publish more information regarding trading behaviour on their platform, with Lambert suggesting that perhaps there should be specific pools of liquidity that only include firms that have committed to the Code.
The two then discuss the results of a recent report about investors increasingly using alternative data, with Stops indicating that although he doesn’t disagree with results of the report he remains sceptical about some of the conclusions the author draws from it. Handily, Profit & Loss also published an interview with John Arabadjis, the new head of markets macro strategy product and analytics at BNY Mellon, this week precisely on the topic of utilising alternative data to provide new insights for investors, giving Stops and Lambert plenty of fodder to discuss both the possibilities and limitations of these new data sources.
And finally, the podcast ends with Lambert turning on one of his favourite punchbags – retail FX! But what has aroused his ire this week? Listen to the end to find out……