FMSB Releases Third Spotlight Paper on Libor Transition

The FICC Markets Standards Board (FMSB) has published its latest Spotlight Review on Libor transition with practical case studies to support firms when considering the risks to fairness and effectiveness as the market moves to risk-free rates as more sustainable and representative benchmarks. As the risks associated with the continued provision of new LIBOR-linked products […]
Read More »

Fed’s Powell: Doing All We Can: Will it be Enough?

US Federal Reserve Chair Jay Powell has offered reassurance policymakers are not even “thinking about thinking” about raising rates and shared his worries about possible long-term post-crisis unemployment. Answering questions after the Federal Open Market Committee reaffirmed that what it’s doing now it will keep doing as long as it takes, Powell acknowledged it’s been […]
Read More »

BNY Mellon Latest to Connect to Singapore FX Hub

BNY Mellon has unveiled plans to build a high-performance FX pricing and trading engine in partnership with the Monetary Authority of Singapore (MAS), the latest milestone as the bank continues to enhance its foreign exchange presence in the region. The bank will establish new low-latency electronic FX infrastructure in Singapore, helping to improve execution quality and price […]
Read More »

The Times, They Are A-Changin’

‘Back to normal’ – three simple words, and a world of meaning. For those in the UK, Monday, 23rd March 2020 marked the point at which everyone’s life changed. Lockdown has had, amongst many other effects, a profound impact on how and where we work and the very nature of the job we do. The […]
Read More »

BIS Opens Americas Dealing Room

The Bank for International Settlements (BIS) has opened a new dealing room at its Representative Office for the Americas in Mexico City. The new facility complements the existing BIS trading rooms in Basel and Hong Kong SAR, allowing the BIS to offer 24-hour services to its central bank customers. Jaime Cortina, who joined BIS last […]
Read More »

US Regional Data, Confidence, Key Released in Week Ahead

The May 25 week in the US starts off with the Memorial Day holiday, but it quickly speeds up from there. Regional conditions data for May are the highlight of the week, with reports from the Philadelphia, Dallas, Richmond and Kansas City Federal Reserve banks and the Chicago PMI on tap ahead of the ISM […]
Read More »

Nolens Named Head of BIS Innovation Lab Hong Kong

The Bank for International Settlements (BIS) has announced the appointment of Bénédicte Noella Nolens as head of the BIS Innovation Hub Centre in Hong Kong SAR for a three-year term from 1 July 2020. The Innovation Hub, established in 2019, aims to identify and develop in-depth insights into critical trends in technology affecting central banking; develop public goods in […]
Read More »

White House Watch: An Inconsequential Virus Obituary

With by one count 93,382 deaths blamed on the corona virus through Wednesday, each one a life-altering tragedy for a family, there is hardly any point chronicling the death of an inanimate process which few could care about or should. Yet the passing of the early morning ritual of getting the jobs report, the Consumer […]
Read More »

WHW: ‘My Decision to Make’ – The New Virus Anthem

A few loose ends remain but this whole virus thing is about to be wrapped up, with all the states reopening to some degree, so far no virus rebound evident and a vaccine candidate or two coming along fine. Once that vaccine is nailed down and a few hundred million doses administered, back to revving […]
Read More »

CLS, SGX Report April Activity

CLS Group says the average daily traded volume (ADV) submitted to it was $1.55 trillion in April, down 29.4% from March. This represents the lowest reported ADV by CLS since December 2017. FX swap volume was $1.085 trillion per day in April, a 20.1 drop from March and down 5.4% year-on-year. Outright forward activity was […]
Read More »