UK Wins Court Case With ECB on Euro Clearing

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UK Wins Court Case With ECB on Euro Clearing – Wall Street Journal (subscription)
A European Central Bank policy requiring British companies managing trades in euros to relocate to the eurozone will be annulled, Europe’s second-highest court ruled Wednesday, marking a victory for the UK government which had argued such a move was against European law and would push business away from London’s financial centre.
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Join FXPA at FIA Boca

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Join FXPA at FIA Boca
Attending FIA Boca next week? Please join the membership of the Foreign Exchange Professionals Association (FXPA) for a Meet & Greet session at the FIA Boca conference. Representatives from the FXPA will be in the Lounge Area adjacent to Bar Luna from 5:30-6:30 on Tuesday, 10 March. Profit & Loss is sponsoring cocktails. Please rsvp to jros@profit-loss.com

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Banks Likely to Trim Their Customer Bases

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Banks Likely to Trim Their Customer Bases – Profit & Loss (subscription)
The capital available to bank FX businesses is much reduced compared to a short time ago; the impact of the Fix fiasco is seeing more players pull back from proprietary risk taking and pushing more towards an agency model; the lessons of the SNB event are still being absorbed; and then there is the “hot” topic of last look being openly debated around FEMR and, possibly, by certain regulatory agencies. All of this is likely to lead to several players doing what some institutions did years ago, and trim their customer bases.
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RBS Suspends Two Forex Traders Over ‘Currency Rigging’

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RBS Suspends Two Forex Traders Over ‘Currency Rigging’ – The Times(subscription)
Royal Bank of Scotland has suspended two more foreign exchange traders in London on suspicion of market manipulation as part of an investigation into currency rigging by American regulators.

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