FCA Publishes “Dear CEO” Letter to Asset Managers

UK regulator, the Financial Conduct Authority (FCA), has published a “Dear CEO” letter to asset management firms, urging them to prepare for the end of Libor “now”. In the letter from Nick Miller, head of asset management supervision at the FCA, it stresses that UK authorities have been clear that the intention is that Libor […]
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And Finally…

The “buy side” is a hydra – we use the phrase for convenience rather than accuracy – and indeed as more buy side firms face holding more risk and, possibly, seek to match with other firms, even this generic description may be out of date soon. So with the caveat that what I am about […]
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Lumint, New Change FX Partner for Hedging Analytics

Lumint and New Change FX (NCFX) have joined forces to provide a new solution which they say will address all the major challenges and opportunities faced by investment managers wishing to outsource some or all of their hedging programs. Lumint provides a full STP process to obtain the necessary hedge data and establishes a clear […]
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Hedge Fund Association Adds Two

The Hedge Fund Association (HFA), a not-for-profit lobbying organisation, has appointed two to its board of directors in Josh Stone, legal and compliance advisor, and Mark Shaw, UK regional co-director. US-based Stone is principal and founder of FundsLawyer in Florida, while Shaw is a partner in the investment funds practice group of Wildgen, a Luxembourg […]
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Insch Kintore Strategy to Backbone New Fund

The Insch Kintore fund, which has, since inception, earned a total net return of +88.45%, with an average rolling 12 month net return (49 observations) of +16.21% (net of management and performance fees), has been selected by Linear Investments in its new appointment as investment advisor to Bermuda-based Rudolf Wolff Insch Kintore, Rudolf Wolff will […]
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And Finally…

Before I get into today’s subject, some very tragic news for our industry last week as I understand that Steve Jennions, former FX trader at Citi, Morgan Stanley and Deutsche Bank to name just three firms, died last week. I only met Steve once to my memory, when he was at Morgan Stanley, but talk […]
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Mesirow Breaks the $100 Billion Barrier for Currency Management

Mesirow Financial says that its currency management group has surpassed $100 billion in assets under management as of December 31, 2019. The firm says currency is one of the biggest risks for institutions investing abroad and, as more money is put to work overseas, this risk continues to grow. As a result, a significant demand […]
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FX HedgePool Launches Buy Side-to-Buy Side Matching

FX HedgePool launched its new buy side-to-buy side swaps matching utility – FXHP – last Friday with three asset managers, including Vanguard, Eaton Vance Management and a European manager, along with Standard Chartered Bank operating as credit provider. The launch focused on a single currency pair – EUR/USD – and although the firm declines to […]
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Investment Association Calls for Standardised FX Rejects

The UK’s Investment Association (IA) has proposed new standardised categories to simplify the processing of rejected FX trades in a bid to bring greater consistency to the market and improve outcomes for investors. Under the proposals, when a request by an investment manager to trade is not executed, the execution providers – brokers, dealers and […]
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Central Bank Group to Assess the Case for Digital Currencies

Six central banks, along with the Bank for International Settlements (BIS), have created a group to assess the potential use cases for a central bank digital currency (CBDC) in their home jurisdictions. The central banks involved in the group are: the Bank of England (BoE), the Bank of Japan (BoJ), the European Central Bank (ECB), […]
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