Prime Minister Theresa May’s record defeat in Parliament over her Brexit divorce deal provoked a curious response from markets: Optimism.
- What Brexit’s Jumbled Politics Mean for Markets – The Wall Street Journal (subscription)
- JP Morgan CEO Jamie Dimon Says Hard Brexit Would Be a ‘Disaster’ for Britain – Bloomberg
The Foreign Exchange Professionals Association (FXPA) is pleased to announce the addition of Fifth Third Bank as the newest Associate level member of the FX trade group.Read More
The Foreign Exchange Professionals Association (FXPA) is pleased to announce the addition of Fifth Third Bank as the newest Associate level member of the FX trade group.
“The more we learned about FXPA, the more we realized that the core values of Fifth Third Bank and FXPA were aligned. We fully support the advancement of competitive currency markets in a constantly changing global landscape. The commitment to educating all participants on industry issues is a positive endeavor that we want to be part of,” says Bob Tull, SVP, Global Head of Financial Risk Management at Fifth Third Bank.
“We are very excited to now be a member of FXPA. We believe we can provide unique perspectives on issues faced by regional banks and look forward to working with FXPA on current and future initiatives,” says Tim Lyons, MD, Head Trader – FX & Derivatives, at Fifth Third Bank.
“A diversity of perspectives is a key pillar of FXPA,” says FXPA Chairman Chip Lowry. “FXPA represents a broad group of constituents that have come together to collectively help shape the future of the FX industry, and we are pleased to welcome Fifth Third Bank as our first regional bank member.”
Launched in September 2014, FXPA is uniquely comprised of a cross-section of the institutional FX industry. Diversity of membership is embedded in FXPA’s organizational construct to ensure wide representation of the professional FX market. Founding members epitomize this diversity – including the buy side, exchanges, clearing houses, trading platforms, technology companies, banks and non-bank market participants.
The FXPA is a Washington, DC-based organization that represents the collective interests of the full array of professional foreign exchange industry participants. The group was developed to engage key regulators, policymakers, the news media and general public through education, research and advocacy, with the goal of advancing a sound, liquid, transparent, and competitive global currency market.
To find out how you can support the FX industry through education, research and advocacy, visit our website at www.fxpa.wpengine.com,become an institutional member, sign up for our newsletter, FXPA globalFXsource.
As investors wait for the UK’s vote on the Brexit withdrawal agreement, banks and brokers have already accepted that, from March 29, Europe will be split into two distinct capital markets.Read More
How will sterling fare in (yet another) big week for Brexit? As always with Brexit and the pound, the sensible answer here is “nobody knows”. But some lively moves in the pound on Friday provided some clues.
- The Pound’s Most-Accurate Forecaster Says It Will Slip Another 3% – Bloomberg
- Theresa May to Warn no Brexit More Likely Than No-Deal EU Divorce – Financial Times
- Leading Brexit Donors Say Britain Will Reverse Decision to Leave EU – Reuters
If once is an accident and twice a coincidence, traders looking for a third currency flash crash are surely poring over Japan’s holiday calendar by now, bracing for enemy action. Last week’s yen-driven crash that sent the Turkish lira into a tailspin and a sudden plunge in the South African rand in January 2016 had three things in common.Read More
The Federal Reserve Bank of New York has taken the step of publishing a statement detailing how it handles confidential information from
Philippe Jabre was the quintessential swashbuckling trader, slicing his way through markets first at GLG Partners and then an eponymous hedge fund he founded in 2007 — at the time one of the industry’s biggest-ever launches. But in December he fell on his sword, closing Jabre Capital after racking up huge losses. The fault, he said, was machines.Read More
Cboe Global Markets has announced a raft of senior management changes following the news that Chris Concannon is set to leave the firm, where he currently holds the position of president and COO.Read More
Transaction cost analysis (TCA) as we know it has already begun to go bad. Its origins in FX were really to allow asset managers to show their clients that their FX executions were in the right ballpark, but the new breed of buy-side FX traders (many of whom have moved from the sell-side) are looking for much deeper insights.Read More