Canada is promising $82 billion in financial relief to soften the blow of the pandemic crisis that is causing massive upheaval and uncertainty in this country and around the world. Prime Minister Justin Trudeau announced Wednesday that his government would provide up to $27 billion in direct support for Canadian workers and businesses impacted by […]
Canada followed the US by substantially lowering interest rates to buffer the shock of the COVID-9 virus that is reverberating through financial markets around the world. The Bank of Canada Wednesday lowered its target overnight rate by 50 basis points to 1.25%, its largest single rate cut since 2009. That cut led to a corresponding […]
The latest round of FX turnover data from a group of the world’s FX Committees show that volumes dipped slightly in October 2018 compared to April last year when they hit a new high mark. Average daily reported UK FX turnover was $2.6 trillion per day in October 2018. Although this is the third largest turnover figure on record, it represents a 4% decrease from the record high of $2.7 trillion reported in April 2018. Turnover by instrument was mixed in the UK. Spot increased for the third successive reporting period, gaining 3% compared to April 2018 to reach $775 billion traded per day. This represents a 14.5% year-on-year increase in volume.
The Alternative Investment Management Association (AIMA) has appointed Claire Van Wyk-Allan as its new head of Canada.
Van Wyk-Allan, who takes over on April 2, joins AIMA from RBC Global Asset Management, where she served as business development manager, advisor channel sales.
Prior to joining RBC in 2013, she worked for Arrow Capital Management, where she spent almost four years as regional manager, covering advisors across Ontario.
She has been an active member of AIMA for almost a decade, including serving as a member of the AIMA Canada board since 2014. She has also been a two-time co-chair for Help for Children’s Hedge Funds Care Canada Gala.
The latest round of FX committee semi-annual turnover surveys indicate that activity globally dipped slightly in October 2017 from the previous April, but was up year-on-year.
The US was the bright point amongst the surveys, showing a 6.2% rise from April 2017’s level and 7.2% higher than the previous October, while the UK, still easily the world’s largest FX market, saw activity decline by 4.3% from April, however it was up 5.4% year-on-year. Elsewhere, all centres saw slightly higher activity from the April 2017 survey, however Singapore and Canada were up on a year-on-year basis while Japan and Australia declined slightly.
The Depository Trust & Clearing Corporation (DTCC) says that its Global Trade Repository (GTR) has added trade repository services for Newfoundland and Labrador.
With this addition, DTCC says GTR now supports all Canadian provinces and territories.
In an effort to achieve improved risk analysis, all Canadian provinces and territories have adopted harmonised derivatives reporting regulations. These rules require reporting for OTC derivatives transactions, including rate, credit, equity, FX and commodity derivatives.
GTR is anticipated to begin support for public price dissemination in January 2017, across all Canadian provinces and territories, DTCC says.