Tag: Chris Salmon

Chris Salmon

Salmon Steps Down from Bank of England, GFXC

Chris Salmon, executive director, markets, at the Bank of England and chair of the Global Foreign Exchange Committee is stepping down to pursue an opportunity in the private sector.
Although there has been no formal announcement from the Bank of England, the GFXC says in a release that Simon Potter, executive vice president of the Federal Reserve Bank of New York, will act as interim chair of the committee with immediate effect. A new chair will be elected at the next GFXC meeting, to be held on 27 June 2018 in Johannesburg.

Regulators Must Keep Up with Fast Markets: BoE’s Salmon

In a speech on Friday, Chris Salmon, executive director, Markets, at the Bank of England, discussed the changing market microstructure, in particular the advent of “fast markets” and stressed it was “incumbent” upon authorities to keep up.
Salmon highlighted three recent flash events in financial markets, the equities market flash crash of 2010, the US Treasuries flash rally in 2014 and last year’s Cable flash crash and while he observed that sharp moves in asset prices are nothing new, “the speed, and the typical near-total reversal” is new.

FX Code of Conduct: Reasons for Optimism

What is widely seen as one of, if not the, biggest challenge surrounding the BIS FX Working Group’s work on developing the Global Code of Conduct – adherence – was addressed by Chris Salmon, executive director, Markets at the Bank of England earlier this week and Salmon – the man responsible for the adherence piece in the Code – was optimistic that it would be effective.
Addressing ACI UK’s Square Mile Debate, Salmon noted, “It is no secret that all has not been well in FX or FICC markets more generally.”
He cited the erosion of trust in markets to preface his speech but identified an “ethical drift” resulting from “structural weaknesses” that presented opportunities for misconduct.