“Short, Sharp Shock” Needed for FX Market – Profit & Loss
The recent multi-billion dollar fines given to a range of banks and the continued flow of negative headlines relating to the financial markets are still not enough to prevent criminal behaviour from happening in the future, according to Andrew Bullion, partner at law firm Hausfeld.
Does the FX Industry Need the Equivalent of a Truth and Reconciliation Commission? – Profit & Loss (subscription)
Does the FX industry need the equivalent of a Truth and Reconciliation Commission? This question was asked when the subject of discussion around Profit & Loss Scandinavia was, sadly it must be said, still dominated by the ongoing legal actions around dismissals and chat room activity. The idea is that at some stage in the near future a line needs to be drawn (probably 2013), beyond which no further legal action can be taken, much along the lines of the Commission in South Africa post-Apartheid.
The New Bond Market: Algorithms Trump Humans – Wall Street Journal
Computerised trading strategies are remaking the $12.7 trillion treasury market, emulating earlier sea changes in stock and currency trading.
Swaps Market Structure Changes Create Fragility – International Financing Review
New regulations pushing execution in the $630 trillion over-the-counter derivatives market onto electronic platforms may be contributing to a more fragile trading environment and exacerbating shocks, market participants have warned.
London Passes New York as Top Financial Centre on Election Boost – Bloomberg
London moved ahead of New York as the world’s top financial centre, boosted by Prime Minister David Cameron’s decisive election win, according to an index published by Z/Yen Group.