BoE Warns of Market Fragility After Brexit Vote

A further deterioration in investor appetite for UK assets, together with a potential rise in the number of vulnerable households and increased fragility in financial markets are among the main risks that the Financial Policy Committee of the Bank of England (BoE) is monitoring, following results of the Brexit referendum on June 23. Some of […]
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Asian Corporates Cite FX as Biggest Financial Risk Concern

Asian corporates and CFOs cited FX risk as the financial risk that they are most concerned about, according to a new survey from Thomson Reuters and Asset Benchmark Research. In the report accompanying the research results, it notes that as basic management processes are increasingly automated, corporate treasurers and CFOs have become more focused on […]
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Markets Standards Board Publishes First Draft of FICC Standards

The Financial Markets Standards Board (FMSB), established in the wake of last years Fair and Effective Markets review (FEMR) process in the UK, has published its first draft standard aimed at improving conduct in FICC markets. The FMSB’s work started last year and was initially aimed at all FICC markets, however since the Bank for […]
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Non-Bank LPs Prove Their Worth During Brexit Volatility

Following the results of the UK referendum decision to leave the European Union last week the common consensus amongst FX market participants has been that the biggest surprise – apart from the result itself – was how well the FX market handled the resultant volatility. “Two months ago if you’d told me that we’d have […]
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Non-Bank LPs Prove Their Worth During Brexit Volatility

Following the results of the UK referendum decision to leave the European Union last week the common consensus amongst FX market participants has been that the biggest surprise – apart from the result itself – was how well the FX market handled the resultant volatility. “Two months ago if you’d told me that we’d have […]
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FXPA Commends FX Market Over Brexit

The Foreign Exchange Professionals Association (FXPA) has commended the foreign exchange industry for its preparations ahead of Britain’s referendum last week on whether to leave or remain in the European Union. FXPA says the preparations resulted in the relatively smooth functioning of currency markets in the initial hours and days after the polls closed. “The […]
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BIS Appoints Ellis as New Secretary General

The board of directors of the Bank of International Settlements has appointed Monica Ellis as secretary general for a five-year term, effective January 1 2017. Ellis replaces Peter Dittus, who retired in 2016, the BIS said in a statement late Monday. In her new role, Ellis will head the general secretariat, one of the bank’s […]
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“Brexit Uncertainty Can be Contained, Contingency Plans are in Place”: BIS

Despite an initial period of “uncertainty and adjustment” that is to be expected following the victory of the Brexit camp at the UK referendum last week, “with good cooperation at the global level, I am confident that uncertainty can be contained and that adjustments will proceed as smoothly as possible”, the general manager of the […]
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Brexit Response Highlights SNB Lessons Learned

With market participants reporting wider spreads but continuous liquidity following the UK’s vote in favour of leaving the European Union, platform providers claim that the FX market has learned important lessons about how to function effectively in volatile market conditions. The multi-bank FX trading platforms generally reported increased volatility and trading volumes following the surprise […]
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Analysts Quick to Predict Further Sterling Weakness

Following the historic UK vote to leave the UK, analysts have been quick to issue gloomy predictions for sterling and the euro. Societe Generale’s global head of macro strategy Kit Juckes says in a note, “The UK economy enters a period of huge uncertainty – and weakness as a result – and despite the 9.8% […]
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