Tag: FX Global Code

FX Global Code

And Finally…

As flagged in Thursday’s column, I want to revisit the subject of pre-hedging and the FX Global Code – and it is timely to do so given that the US Supreme Court is expected to review Mark Johnson’s petition to have his case heard and, eventually, overturn his conviction. The “offense” committed by Johnson, even […]

And Another Thing…

Ahead of my normal duties at Profit & Loss Mexico on Thursday evening and Singapore next Wednesday afternoon (both local time), I had the all-too-rare pleasure of being on the other side of the “divide” this week, as a speaker on an excellent ACI UK panel on conduct and the FX Global Code. I was […]

Settlement Risk Remains High on GFXC Agenda

Following its latest teleconference meeting, the Global Foreign Exchange Committee (GFXC) has reiterated its focus on settlement risk gaps in the FX market and says it will strengthen its guidance on settlement risk as part of its ongoing review of the FX Global Code. Highlighting recent incidents in the Turkish lira, where borrowing rates of […]

BoE Questions Decision to Drop Spot FX Market Abuse Regime

As part of its response to the findings of an internal investigation conducted after it was revealed that audio recordings of its press conferences were being sold to market participants, the Bank of England has flagged revisiting a previously ignored recommendation of the UK’s Fair and Effective Markets Review (FEMR) to create a new statutory civil […]

And Another Thing…

Compared to the mayhem of April, the June month-end WM/R 4pm Fix went off reasonably OK – there were no huge moves, just a steady grind lower by the dollar except for against the yen, where it was in demand for the second time that day (the first being the Tokyo rate set at 9.55am […]

FX Global Code in 2021 and Beyond

How well have the principles of the FX Global Code stood up in face of recent volatility spikes? Panellists Rohan Churm, head of the FX division at the Bank of England; Neill Penney, vice chair of the Glboal FX Committee; Christian Schoeppe, managing director and founder of Schoeppe FX; and Martin Pluves, CEO of the […]

In the FICC of It

In this week’s podcast, P&L managing editor Colin Lambert takes a look at the week’s news, including a brief look at the month-end Fix and the “Friday phenomena” in liquidity, leading him to describe the overall experience as “not a good look for the market – although he does also ask the question, “has much […]

And Another Thing…

If everything stacks up, something happened on Monday that highlights just how much more work the FX industry has remaining to not only get people to understand the FX Global Code’s requirements, but also to adhere with it. Bloomberg News issued a report which basically stated that someone in Asia had triggered an option barrier […]

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