FSB Report Sounds Warning on Fragmentation

A report issued this week by the Financial Stability Board (FSB) warns that differences between regional and national regulation is heightening the risk of market fragmentation, thus making it harder for global regulators to monitor markets and for global market participants to operate efficiently across borders. The report states, “Differences in rule-making could lead to […]
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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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ACI UK to Pilot Global Code Training Course

Profit & Loss understands that ACI UK is working with Corellian Trading Academy to pilot a two-day training programme on the FX Global Code of Conduct. At the end of the programme delegates will have the option to take the ACI Global Code Certificate examination, which was launched by ACI globally in May 2018. The […]
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Debelle Named as GFXC Chair

Guy Debelle, deputy governor of the Reserve Bank of Australia (RBA), has been named as the next chair of the Global Foreign Exchange Committee (GFXC). His two-year term will begin in early July, 2019, after he was nominated and elected to the position at the latest two-day GFXC meeting hosted by the Bank of Japan […]
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FCA Report Finds £27m Lost to Crypto, Forex Scams

The UK’s Financial Conduct Authority (FCA), in conjunction with Action Fraud, has issued a report showing that last fiscal year £27 million was lost to crypto and forex investment scams. The report from the FCA and Action Fraud, a national reporting centre for fraud and cyber crime, found that the number of scams reported nearly […]
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EU Fines Five Banks for FX Manipulation

The European Union has formally fined five banks a total of EUR 1.07 billion for taking part in what the EU terms two “cartels” in the spot FX market, involving trades in 11 currencies. Two settlement decisions have been announced, the first involves a group called the “Three Way Banana Split” which sees a total […]
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And Another Thing…

Back in the day there were certain “clients” who would flat-out lie to their LPs about their trade being “full amount”. Nowadays, thanks to better data and analytics this type of behaviour can be spotted fairly easily and this has meant that now clients are quite open about the “full amount” not actually being “full […]
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Digital Reasoning Unveils Hosted Cloud Solution

Digital Reasoning has announced the availability of a managed hosted version of its conduct surveillance solution on Google Cloud Platform and Amazon Web Services. Developed with Digital Reasoning’s banking partners, the firm says the solution brings its text and audio communications analytics to the world’s leading secure cloud infrastructures. It adds that compliance and front-office […]
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BNY Mellon Adds Margin Calculation Tools

BNY Mellon has incorporated AcadiaSoft’s initial margin (IM) risk suite of tools for margin calculation, reconciliation and messaging into its collateral service offering. In conjunction with BNY Mellon’s existing bilateral margin capabilities from post-trade and settlement through to collateral segregation and ongoing position monitoring, the aim of this is to enable buy side clients trading […]
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Cappitech Rolls Out RTS 28 Intelligence Tool

Cappitech has announced the launch of RTS 28 Market Intelligence, a product that the firm claims allows financial institutions to use regulatory compliance data to their own advantage by assessing firms’ best execution capabilities across all asset classes and benchmarks performance to the industry average. The new product enables asset managers to optimise performance by […]
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