FEMR Responses Hint at Direction Review May Take – Profit & Loss (free story)
A number of leading industry bodies are revealing their responses to the UK’s Fair and Effective Markets Review (FEMR) early, potentially allowing a glimpse into what the review’s final recommended standards are likely to be.
RBA’s Debelle Tells Forex Trading Banks to Reform, or Else – Sydney Morning Herald
Reserve Bank assistant governor Guy Debelle has told banks trading in the foreign exchange market to adopt global reforms or face greater scrutiny from regulators determined to stamp out manipulation of key market benchmarks.
Coyne Departs Traiana, Hunt is on for New CEO – Profit & Loss (free story)
CEO Traiana’s Andrew Coyne has decided to leave the firm to pursue other opportunities, Profit & Loss can exclusively reveal.
Euro Stalls on Lack of Greek Deal, Eyes on Riksbank – Reuters
The euro dipped on Thursday after regional finance ministers failed to secure a debt agreement with Greece, while investors readied for a possible interest rate cut in Sweden.
China Eases Rules on Foreign Banks’ Yuan Trades – Reuters
China has made it easier for foreign banks without full yuan business licenses to buy or sell foreign currencies against the yuan, its foreign exchange regulator said on Thursday.
Banks to Charge Clients for Executing at the Fix – Profit & Loss (free story)
A number of major FX banks are planning to charge their clients for executing FX trades at benchmark rates, in response to the FX Benchmark Group’s (FXBG) final recommendations and ahead of WM/Reuters changing its methodology for establishing the Fix as of 15 February.
Blog: Six Immediate Actions to be Prepared for the New CHF Volatility – KPMG
Since the latest SNB decision to release the EUR cap the CHF is back in a free floating and volatile FX market. Organisations that relied in their FX hedging strategy on the SNB floor registered significant financial impacts due to the CHF bull rally.
Hedge Funds Focused on Currencies Get Big Payoff – Wall Street Journal(subscription)
Currency markets are finally giving hedge funds some bang for their buck. Thanks to a consistently soaring dollar – and plunging euro – investment funds focused on currencies had the best month in years in January.
Speculators Seen Driving Denmark to Test World’s Lowest Rate – Bloomberg
Denmark’s central bank may set a world record in negative interest rates this week as policy makers try to flush out speculators still betting against the krone’s peg to the euro.