In a white paper released jointly, BlackRock, Goldman Sachs, JPMorgan, Allianz, Citi, Societe Generale, State Street, T. Rowe Price, and Vanguard, have presented detailed recommendations from both buy-side and sell-side perspectives to further enhance the safety and soundness of central counterparties (CCPs. The firms say that while CCPs have been increasingly relied upon to protect […]
In a rumbustious podcast this week Galen Stops relates how he took on the Twitter world following a tweet that was clearly misunderstood (he says) and he and Colin Lambert get into a debate over the value of speed bumps in futures markets. One group, as Stops observes, is very unhappy about it, but Lambert points out there is another – rather influential – group, that really like the idea.
Our two podcasters also follow up on a recently published story by Profit & Loss about the potential buyers of Refinitiv as well as take a look at a recent blog post on aggregation in FX which inevitably leads to a question from Stops to Lambert, ‘what do you consider full amount trading?’ Luckily for everyone, the latter keeps his answer reasonably (to him) short – even delving into the depths of his own trading career for an analogy.
Speaking of delving the depths, the podcast closes out by fulfilling its promise of the previous week through delivering “considered analysis” of a recent rival podcast which took a look at the events surrounding the death of crypto exchange Quadriga’s CEO. There are those that think, as Stops notes in this podcast, that the FX industry likes a good gossip and wild speculation, but his report on the investigation into Quadriga leaves FX standing well in the shade…
Chris Vogel, who left BlackRock in August after six years with the firm, has joined TD Securities as an executive managing director and global head of FX. He is based in New York. At BlackRock, Vogel was most recently managing director, global head of fixed income and currency trading and CEO for BlackRock Execution Services (BES). Vogel joined BlackRock as global head of FIC trading in 2011 and took on the additional role as CEO for BES in 2012. Since 2016, he served as global co-head of trading for the firm.
Speaking at the Commodity Futures Trading Commission’s (CFTC) Market Risk Advisory Committee (MRAC) meeting today in Washington, a range of market participants weighed in on the expected impact of Britain’s exit from the European Union
Eileen Kiely, director at BlackRock, said that markets are currently in a period of low volatility – both implied and realised across asset classes globally – and that she does not expect Brexit to disrupt this trend. This is in part because Kiely believes that markets are currently pricing the risks associated with Brexit appropriately.
HSBC Bank (China) has been appointed as the onshore custodian bank for BlackRock, which has been granted approval by Chinese regulators to use the RMB to directly access China’s onshore securities market.
Blackrock is the first US-based institutional investor to obtain a Renminbi Qualified Foreign Institutional Investor (RQFII) license.
The RQFII programme provides global investors with direct access to invest into China’s capital markets. In June 2016, China allocated to the US a milestone RQFII quota of RMB250 billion, the largest quota globally outside of Hong Kong.