In the FICC of it is one year old this week, and, aside from expressing surprise they got this far, Colin Lambert and Galen Stops celebrate by plunging into two of the themes covered in the first podcast that still resonate today. Stops talks about the evolution of Euronext FX and has two questions for […]
Tag: FX Global Code
FX Global Code
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 […]
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 […]
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 […]
The changing nature of foreign exchange markets, not least the day-to-day participation of the buy side, offer a good rationale for why buy side firms should sign a Statement of Commitment to the FX Global Code, speakers argued at the recent Profit & Loss Frankfurt conference. Ahead of the Global Foreign Exchange Committee meeting in Tokyo […]
So we brace ourselves, as an industry, for more bad headlines about conduct in the FX markets, however in contrast to previous instances, the industry should be ready on this occasion. The culmination of the European Union’s clearly exhaustive and complicated investigation into events that first came to light six years ago is upon us […]
Trading analysis and data science company Ideal Prediction has announced the addition of Natural Language Processing (NLP) to its automated analytics services. By incorporating NLP with machine learning, the firm says its service empowers clients to create and visualise new analytical graphs in real-time with no coding knowledge. Prior to NLP, all potential cases required […]
Regular readers will know that I volunteer to help run the ACI Australia Dealing Simulation Course around the world – I actually met a good number of you for the first time at that forum. In the last year the course has been looked at in terms of the FX Global Code and one or two new processes introduced, but last week in Denmark was the first chance I got to put some new ideas into action – and the results highlighted how easy it is to get confused by some aspects of market interaction, and also why the buy side needs to get onside.
Analytics and data science company Ideal Prediction, has unveiled Scope, an automated monitoring service, which analyses the behaviours of voice traders and trading algorithms in line with the principles of the FX Global Code.
The firm says Scope is already in production and automatically monitors order and trade activity, evidencing that humans and algorithms adhere to governance and risk controls. It specifically highlights potential issues like last look, spoofing, flashing, layering, order violations, limit breaches, and P&L flags, the company adds.
Just two subjects fill our podcast this week as Colin Lambert and Galen Stops share (contrarian) views over the benefit (or otherwise) of closer links between retail and institutional FX markets.
The cynicism Lambert brings to that subject also permeates the second main subject – the release last week of two reports from Global FX Committee Working Groups on disclosures and “cover and deal” operators using last look. Our podcasters also take a look at the GFXC’s annual survey of opinions on the FX Global Code and while he admires what he terms “the optimism of youth” as expressed by Stops, Lambert is again wearing the cynical expression as they discuss some potentially concerning findings in the survey.
Not happy there, Lambert also tries to hit back at what he reports was “ridicule” aimed at him after last week’s podcast discussed his NOK/MXN prediction for 2019 by deflecting the issue onto one of Stops’ predictions – or rather one of what Lambert believes is a “non-prediction”. Will FX prime brokerage consolidation reverse (slightly) and will asset manager clients remain elusive? Find out by listening in.