Financial MarketsRSS
Damian Carolan

Spot FX once again faces prospect of EU regulation

Regulating the spot FX market is back on the table in the EU, raising concerns in the industry that the European Commission might be seriously considering going ahead with this proposal.

FSB notes some delays in switching away from Libor due to Covid-19

The transition by firms to alternative interest rate benchmarks from the London interbank offered rate (Libor) is likely to have been temporarily disrupted by the Covid-19 pandemic, the Financial Stability Board (FSB) said in a statement. 

European Commission HQ

Forum delivers recommendations to European Commission to boost CMU

Yet another attempt is being made to breathe life into the EU’s CMU. This time it is 17 recommendations from a high level forum, most of which have been well received by industry with the baton now passed to the European Commission to act on them 

Deutsche Borse

Exchanges push to limit SIs' role as part of MiFID review

In a Federation of European Securities Exchanges webinar, some speakers called for the activity of systematic internalisers to be reined in further, for undermining transparency and price formation. By Justin Pugsley

Johnny Shearman

Covid-19 fallout increases urgency to address Libor transition legal issues

Fallout from the Covid-19 pandemic is heaping pressure on market participants to resolve the legal issues bedevilling the transition from Libor to alternative risk-free rates. By Johnny Shearman, professional support lawyer at Signature Litigation LLP, and Justina Stewart, barrister at Outer Temple Chambers.

Bitcoin

Should digital coins and tokens be regulated as securities?

The growth in digital coins and tokens has posed considerable challenges for regulators trying to protect investors from harm, but perhaps the question of how to regulate cryptocurrencies is based on a false premise. By Todd McDonald, co-founder of R3.

Subadra Rajappa

Covid-19 disrupts shift to risk free rates and regulators' deadline

The US Federal Reserve dropping SOFR in favour of Libor for a major funding programme has sparked mixed views as to whether this signals problems for the replacement risk free rates or if it is a minor hiccup. 

Covid-19 worsening existing financial vulnerabilities - IMF

The Covid-19 pandemic is exposing and exacerbating financial vulnerabilities built up over a decade of low interest rates and volatility, warn two IMF officials, who also urge scrutiny of non-banks. By Justin Pugsley. 

ESMA

Securities regulators lift short selling ban, but could reimpose it

Six EU securities regulators coordinate the lifting of their short selling bans, but have left open the possibility of reimposing them should extreme volatility reignite again

Frankfurst financial district

Industry wins one-year reprieve on initial margin rules

Around 1000 smaller financial firms have been granted another year by global standard-setters to comply with margin requirements for non-centrally cleared derivatives due to the Covid-19 fallout.