globalFXsource – Page 108 – Foreign Exchange Professionals Association

August 5, 2015 Julie RosglobalFXsource0

IMF Not Ready to Add RMB to its Reserve Currency Basket

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IMF Not Ready to Add RMB to its Reserve Currency Basket – Profit & Loss

The International Monetary Fund has issued a staff report stating that it is not ready to recommend that the renminbi (RMB) be added to the IMF’s Special Drawing Rights (SDR) currency basket.
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August 4, 2015 Julie RosglobalFXsource0

Hayes Handed 14 Year Prison Sentence for Libor Rigging

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Hayes Handed 14 Year Prison Sentence for Libor Rigging – Profit & Loss (free story)

Tom Hayes, the first individual to be charged and stand trial in the UK for manipulating the Libor benchmark, has been sentenced to 14 years in prison.

August 3, 2015 Julie RosglobalFXsource0

Four Further Banks Dragged into Fix Lawsuit: Accusations Widened

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Four Further Banks Dragged into Fix Lawsuit: Accusations Widened – Profit & Loss

The law firm undertaking a Class Action suit against several major FX banks has filed a second, broader Class Action that widens the range of currency pairs involved, the venues on which the alleged manipulation took place and the number of banks involved.

July 31, 2015 Julie RosglobalFXsource0

Top FX Banks Brace for Disruption Wave

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Top FX Banks Brace for Disruption Wave – Euromoney

Demand for single-dealer platforms continues to drive adoption of platform-as-a-service (PaaS) in the FX space, allowing smaller players to compete with the top-tier firms in pre- and post-trade services.

July 30, 2015 Julie RosglobalFXsource0

July 30, 2015 – CME Chairman: EU Regulators Putting US Clearing Houses at Disadvantage

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CME Chairman: EU Regulators Putting US Clearing Houses at Disadvantage – Profit & Loss

CME’s executive chairman and president, Terry Duffy, has accused European regulators of deliberately disadvantaging US clearing houses in order to provide their European counterparts with a competitive advantage.

Terry Duffy Written Evidence

July 29, 2015 Julie RosglobalFXsource0

Fed Expected to Push Ahead with Rate Hike Plan

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Fed Expected to Push Ahead with Rate Hike Plan – Reuters

The Federal Reserve is expected on Wednesday to point to a growing U.S. economy and stronger job market as it sets the stage for a possible interest rate hike in September

July 28, 2015 Julie RosglobalFXsource0

FXPA Meets with Regulators, Policymakers in Washington

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FXPA Meets with Regulators, Policymakers in Washington – FXPA.org

Members of the Foreign Exchange Professionals Association (FXPA) spent two days in Washington DC last month meeting with senior members of the Federal Reserve, US Treasury and Commodity Futures Trading Commission (CFTC), as well as held a series of educational briefings for Congressional staffers on such key committees as the House Financial Services Committee, both the House and Senate Agriculture Committees, and the Senate Banking Committee.

July 27, 2015 Julie RosglobalFXsource0

Deutsche Boerse to Acquire 360T

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Deutsche Boerse to Acquire 360T – Profit & Loss (Free Story)

Deutsche Boerse AG has today announced that it will buy Frankfurt-based 360T’s FX trading platform for 725 million euros ($795 million). Jefferies acted as sole financial advisor.

July 24, 2015 Julie RosglobalFXsource0

RBA’s Debelle to Head FX Conduct Group

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RBA’s Debelle to Head FX Conduct Group – Automated Trader
The Foreign Exchange Working Group (FXWG), announced by Bank for International Settlements (BIS) Governors in May to strengthen code of conduct standards and principles in foreign exchange markets, has now been established. The group, which operates under the auspices of the Markets Committee, is headed by Guy Debelle of the Reserve Bank of Australia.

Working Group to Strengthen Code of Conduct Standards and Principles in Foreign Exchange Markets Has Commenced Work (press release)

July 23, 2015 Julie RosglobalFXsource0

Question of Whether to Reveal Client Names Delays FX Trials, Sources Say

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Question of Whether to Reveal Client Names Delays FX Trials, Sources Say – Profit & Loss (subscription)
Multiple sources are saying a big part in the delay in the tribunal process for some of the dealers dismissed over the chat room fiasco comes down to revealing client names. Lawyers are still thrashing out the details of whether client names will be redacted ahead of the hearings.
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