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Regulation

FCA Extends Accountability Regime to Algos, Client Dealing The UK’s Financial Conduct Authority (FCA) has published the final rules confirming its approach to improving individual accountability for those carrying out wholesale activities, such as algorithmic and high-frequency trading, in banks, building societies, and Prudential Regulation Authority (PRA) ...
FCA Warns on CFDs

02:48 February 3rd 2016 in News, Regulation

FCA Warns on CFDs

The UK’s Financial Conduct Authority (FCA) has issued a letter to CEOs of firms offering investors contract for difference trading, including “rolling spot FX” trading which suggests that these firms “may not be acting in the best interests of ...
Barclays, Credit Suisse Fined $150m for Dark Pool Violations Barclays and Credit Suisse have agreed to pay a combined $154.3 million to settle investigations into how they marketed their dark pools. The banks have settled with the Securities and Exchange Commission (SEC) and the New York Attorney General’s office ...
CFTC Approves Eurex for US Swaps Clearing The Commodity Futures Trading Commission (CFTC) has granted Eurex Clearing registration as a derivatives clearing organisation (DCO) in the US. This means that Eurex Clearing will be authorised to provide clearing services for swaps for US clearing members and their ...
New Paper Downplays Spoofer’s Role in Flash Crash A draft academic paper casts doubt upon the role played by UK trader Navinder Sarao in the May 2010 Flash Crash, and instead suggests weakness in the trade reporting infrastructure may have played a significant part. The draft paper, The Flash ...
Five Brokers Found Not Guilty in Libor Case Five individuals have been found not guilty of conspiracy to defraud in the ongoing Libor manipulation case by a jury at Southwark Crown Court in London today. The UK’s Serious Fraud Office (SFO) released a statement today stating that ...
CFTC Grants Final Registration to 18 SEFs The US Commodity Futures Trading Commission (CFTC) has granted final registration to 18 swap execution facilities (SEFs).  Prior to this, the SEFs had been operating under a temporary registration status. The SEFs approved for registration are: 360 Trading Networks, BGC Derivatives Markets, ...
More Chatrooms in Regulatory Focus? Newly released documents have attracted the interest of US investigators looking into alleged FX market manipulation, according to a report from Bloomberg News. The report, which cites documents and people with knowledge of the matter, says that portions of the ...
Microsoft Joins FXPA

13:19 January 20th 2016 in News, Regulation

Microsoft Joins FXPA

The Foreign Exchange Professionals Association (FXPA) is has announced the addition of Microsoft as the newest Advisory Member of the FX trade group. "We look forward to serving as an Advisory Member, helping shape dialogue with a broad spectrum of ...
Regulatory Changes Improving Swap Market Liquidity: Study A new Bank of England Staff Working Paper argues that recent regulatory change has had a positive impact on the global interest rate swap market by both improving liquidity and reducing transaction costs. The report’s authors, Evangelos Benos and ...