So we have the first stage of the global
Code of Conduct in the public domain but as I witnessed on Thursday in New
York, there is still a dangerous degree of complacency in the industry – and
that represents a ...
They do say the media loves a crisis and I
don’t suppose the financial media is any different, but I do feel that
sometimes we lose perspective.
Partly through poor predictions by analysts
and partly because the media loves ...
For many years, people have predicted that a new breed of
non-bank market maker was emerging in FX. And for as many years, many have
predicted that as a result the banks would lose their dominance of the market. My
With apologies for the enforced absence,
this column is back – and I suspect it is back at the start of what could be an
eye-opening week for the foreign exchange industry.
In recent months I have quite vocal on one
The buzz around dark
pool trading in FX continues and although actual data is impossible to acquire,
anecdotally it seems BGC’s MidPoint service has gained the most traction and is
leading the race.
Everyone has their own
idea of ...
Liquidity has always been somewhat illusive
in foreign exchange – the old definition being, “you can get as much done as
you want when you’re wrong”. Generally speaking, if events happened in 1980,
90, 2000, 2010 or 2016, the outcome would generally be the same – ...
Following Monday’s column about the
responsibility of intermediaries to police behaviour in FX markets – and whilst
my sources say they don’t believe it to be the end game one has to applaud
FastMatch’s new order type, which ...
Some months ago I suggested that some
multi-dealer platforms and connectivity providers could take a more
“responsible citizen” approach by helping to mediate in disputes between
liquidity providers and consumers, especially over predatory trading.
At the time the response was ...
As always seems to be the case, the wealth
of material for these columns has been boosted by last week’s Forex Network
conference, and I will seek to cover several themes over the coming weeks. For
now though, a ...
There is a lot of hot air expelled around
the benefits of transparency but we may have an interesting example this week
of why it offers nothing but trouble for certain participants, many of whom are
end users of the ...