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‘Cartel’ FX Trader Ashton’s Whistleblowing Claim “Absurd”, Says Former Barclays COO Chris Ashton’s claim of whistleblowing against Barclays, where he was formerly head of spot FX voice trading, is “absurd”, according to Justin Bull, the bank’s former global chief operating officer. Bull - who co-chaired Ashton’s disciplinary hearing ...
Brexit Response Highlights Changing Nature of FX Liquidity The FX industry proved resilient in the wake of the volatility caused by the Brexit vote while also illustrating the changing nature of liquidity within the market, according to speakers on a Profit & Loss webinar last week. “One of the ...
Cable Below 1.3000 as Brexit Woes Start to Bite Cable has fallen below 1.3000 for the first time since June 1985 in early Asian trading, hitting a low of 1.2950. The selling is a continuation of the downtrend triggered by the continued fallout from the UK’s vote to leave the European ...
Brexit to Have Negligible Impact on ISDA Agreements Britain’s decision to leave the European Union (EU) will have little or no impact on ISDA agreements, legal experts said on a webinar last week. Speaking about the impact of the Brexit decision on the legal framework for derivatives ...
Mexican Peso May Lag Peers: Survey The Mexican peso is expected to underperform most of its peers in the emerging markets, according to a survey of FX corporate and sales executives, traders and strategists attending Bloomberg’s FX16 Symposium found. Out of more than 120 respondents, some 57% ...
ISDA CEO Calls for Unity on Margin Timetable Scott O’Malia, CEO of the International Swaps and Derivatives Association (ISDA) has issued an online post calling for regulators to realign the global implementation deadline for the forthcoming rules on non-cleared derivatives margining requirements. National regulators originally agreed to ...
Thomson Reuters, HKEX Launch RMB Indices Thomson Reuters and Hong Kong Exchanges and Clearing Limited have launched a series of RMB indices, measuring the intraday performance of the currency against mainland China’s most relevant trading partner currencies. The primary index measures the performance of the ...
SDR Bonds to Curb Flow Boat from China? The liberalisation of China’s capital account may prove to be one the key moments in the financial development of the 21st century. For some time now, many have predicted that this will ultimately become known as the Asian Century. ...
Mexico: the Best House in the Worst Neighbourhood? At Profit & Loss’ Forex Network Latin America conference economic experts debated the future of the region and whether internal or external factors are most likely to have the biggest impact on foreign exchange rates. Bob Savage, CEO of CCtrack, wasn’...
Report: RMB Band Still Tied To the Dollar Despite the avowed intention of Chinese authorities to measure the daily trading band for RMB against a basket of currencies, a new research report suggests that it is still very much tied to the US dollar. The report, published by ...