Tag: FXC

FXC

UK Execution Data Returns to Trend, but Concerns for Single Dealers?

Within the UK’s FX Joint Standing Committee (JSC) report on FX turnover, the data on execution styles suggests a return to trend on the part of the channels through which participants are trading. The last two reports from the UK have been notable for a significant surge in spot business executed via the voice channel, […]

Interest Rate Risk Helps Steady FX Volumes

Although spot FX markets have been characterised as existing in a very low volatility and volume environment, the same cannot be said for the interest rate space, and that has enabled FX volumes to remain steady over the past year according to data from six regional FX committees. The FX committees of the UK, US, […]

FXC Critical of Shifting Compliance Burden to FX Dealers

The Federal Reserve Bank of New York’s Foreign Exchange Committee (FXC) has issued a letter criticising market participants for trying to shift the burden of enforcing internal policies and controls towards FX dealers.

In the letter, the FXC says that its member firms have noted that FX market participants occasionally send notices, letters and other communications (“authorisation letters”) to dealing firms “that limit and/or restrict the authority of individuals to submit orders or instructions, trade, invest or authorise settlement-related instructions on the firm’s behalf”.