The Fair and Effective Markets Review may be a landmark event in FX markets as for the first time a regulatory body has joined the debate over practices such as internalisation and last look.
So what does FEMR say on these practices and where do we go from here? Are there feasible solutions to help manage the myriad of issues surrounding just these two practices?
On a wider note, what will be the ultimate impact of FEMR? Will its recommendations be used globally and can they be harmonised across jurisdictions? How effective will it be in dealing with recent conduct issues? And what will an FICC business look like post-FEMR?
Stephen Baseby, Associate Policy & Technical Director, The Association of Corporate Treasurers
Alex McDonald, CEO, WMBA
Xavier Porterfield, CFA, senior FX consultant, Newchange FX
Colin Lambert, Managing Editor, Profit & Loss