Latest articles from Frances Maguire

Retail FX models go head to head

Retail FX models go head to head

October 1, 2012

New regulations are pushing many retail foreign exchange platforms to move away from market making, towards an agency brokerage model, but this may not be good news for clients.


Adapting the securities value chain

January 3, 2012

As regulators seek to push more business onto exchanges and into central clearing, and to make derivatives and other markets more transparent and more resilient, the reform of the securities industry is well under way. What will regulations mean for businesses in practice?

Are commodity currencies coming off the boil?

Regulations prompt FX and OTC rethink

October 3, 2011

New regulations, specifically the push towards central counterparty clearing, are having a huge impact on banks' over-the-counter foreign exchange operations. As the banking sector undergoes significant changes, what will this mean for banks' organisational structures and the foreign exchange market?

European Central Bank

What do investment managers need from brokers?

September 1, 2011

As their global operating models evolve, what do investment managers need from their service providers and what can they do to help themselves?

Lehman Brothers in 2008

Market infrastructures gear up for new role

September 1, 2011

The introduction of mandatory clearing for over-the-counter derivatives will bring with it a widescale, and costly, post-trade infrastructural reorganisation and a host of new considerations for the industry.

Jim Chrystal

Bank-to-bank volumes no longer biggest FX driver

March 10, 2011

Last year, customer volumes overtook interbank volumes in the foreign exchange market for the first time. Electronic and high-frequency trading help to account for the change, as does the rise of retail participants – but regulatory change is also helping to cement this trend.

Andrew Coyne, global head of prime brokerage, Citi

Decision time on FX CCPs

March 8, 2011

Two central counterparties are currently being built to clear foreign exchange options. There is a great deal of preparation to be done.

Corporates left at the sharp end of currency risk

September 29, 2010

Unprecedented volatility on the foreign exchange markets has dramatically increased the currency-related risks for corporates and has forced them to re-evaluate their strategies for hedging against sudden shifts. Banks and software suppliers are developing tools to help them address the situation, writes Frances Maguire.

Fund processing plays catch-up

July 28, 2010

Much work has been done to standardise and automate fund processing, with several commercial solutions available, but the cost of processing fund transactions is still significantly higher than for bonds or equities and this is hampering critical mass. Is a more centralised market infrastructure needed to tackle processing costs? Writer Frances Maguire

Regulation collaboration comes closer

July 6, 2010

An unprecedented overhaul of the securities industry is taking place under politically mandated reform. This is forcing markets and regulators to work more closely together to ensure that there is no repeat of the recent financial crisis. Writer Frances Maguire

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