Tag: Brexit

Brexit

Battle Lines Drawn

Looking at the geographical distribution of OTC FX turnover, Galen Stops sees some areas of competition emerging amongst different trading centres, but argues that it will be a long time before we see the outcome of any moves being made now. It will have come as no surprise that the data from the Bank for […]

Brexit Uncertainty Not Hampering RMB Trading

Brexit uncertainty hasn’t stopped RMB trading activity in the UK reaching record highs, according to a new report published by the City of London Corporation. The report, London RMB Business Quarterly, shows that an average of £85 billion of RMB was traded in the UK on a daily basis in the second quarter of 2019, […]

DekaBank Moves Trades from LCH to Eurex Ahead of Brexit

With the UK still headed for a Brexit in 2020, subject to December’s General Election, German banking group DekaBank, the securities services provider of the German Savings Banks Finance Group, has successfully transferred a substantial portion of its swap book from UK-based LCH to Frankfurt-based Eurex Clearing in a single day. What the firm calls […]

And Finally…

I am flying to Singapore and then Hong Kong for our two Asian conferences this week, so this will necessarily be relatively brief – what does the British electorate have in store for us this time and will this UK general election, like so many other votes recently, leave the pollsters with egg on their […]

In the FICC of it

Profit & Loss editor, Galen Stops, is in London right now and explains that Brexit seems to be the main topic dominating a lot of conversations. And unfortunately for those who might be sick of the subject, he explains that even if the UK leaves with or without a deal in the near-future, this is […]

Markets Over-Estimating GBP Brexit Premium, Say Analysts

Markets might currently be overestimating the amount of Brexit premium left in sterling, argue senior analysts at UBS. “There’s not as much Brexit premium in sterling as people think,” says Arend Kapteyn, global head of economics and strategy at UBS. “A lot of the discussion I have with investors is along the lines of: ‘Sterling […]

FSB Reports to G20…and it’s a Familiar Message

The Financial Stability Board (FSB) has published a letter from its chair Randal Quarles to G20 finance ministers and central bank governors ahead of their meetings in Washington this week and the message from the letter is largely the same as it has been for some time – work is progressing but more needs to be […]

The 20 for 20 Countdown – Part Three

It’s been a busy 20 years since Profit & Loss launched. Colin Lambert and Galen Stops have picked out 20 key events or trends during that time and asked senior industry figures for their perspective on them – here’s numbers 10-6. 10. Brexit Putting aside the (ongoing) politics, the night of the Brexit vote showed […]

A Sense of Perspective

In a 1999 edition of Profit & Loss, David Clark, now chairman of the European Venues and Intermediaries Association (EVIA), reflected on 30 years in the foreign exchange industry. Now he talks about what has – and hasn’t – changed in the industry since then and makes some bold predictions for the future. Profit & […]

In the FICC of It

It’s the past, present and future as far as the agenda for this week’s In the FICC of It podcast is concerned as Colin Lambert and Galen Stops take a look at the chaos in the UK surrounding Brexit, digital assets, and the e-revolution that hit FX 20 years ago. Stops is surprised by the […]