Tag: reform

reform

FSB, Basel Committee, Reinforce Libor Transition Message

The Financial Stability Board (FSB) and Basel Committee (BCBS) have published a report, Supervisory issues associated with benchmark transition, in which they observe that “continued reliance of financial markets on Libor poses clear risks to global financial stability”. The report acknowledges that transition away from Libor by end-2021 requires significant commitment and sustained effort from […]

Associations Call for European Benchmark Reform

Four associations have published a briefing paper with recommendations to reform the European Union Benchmarks Regulation (BMR), aimed at maintaining the intended protections of the regulation but reducing the potential for uncertainty and disruption and preventing EU investors from being put at a competitive disadvantage versus non-EU entities. The four associations, the International Swaps and […]

Refinitiv’s Shirley Barrow – Managing the WM/Reuters Fixes

FX benchmark fixes, specifically the WMR London 4pm “close”, have been in the spotlight recently thanks to price action around and during the fixing windows. Colin Lambert talks to Shirley Barrow, global head of benchmarks at Refinitiv about how WM/Reuters Benchmarks are managed – and what it would take to change In spite of liquidity […]

Bank of England Seeks to Accelerate Libor Reform

The UK has upped the ante again in driving interest rate benchmark reform away from Libor to risk free rates with the Bank of England unveiling two new initiatives aimed at further supporting the transition. The BoE and the UK regulator the Financial Conduct Authority (FCA) are working closely with market participants to support the […]

And Another Thing…

I read this week that UBS’ compliance head Markus Ronner believes that while they will inevitably remain high, compliance costs for the banking industry have peaked. There are undoubtedly a host of financial markets’ participants out there who fervently hope he is right, actually if it comes down to it, I hope he’s right! The […]

And Finally…

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 […]

And Finally…

The unexpected departure of ACI – The Financial Markets Association president Marshall Bailey has come at an inopportune time for the association, and more than ever the association needs to demonstrate to its members and the relevant authorities that it has a continuity programme in place

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