With FX volumes surging to unprecedented levels, Frances Maguire finds out if avoiding bottlenecks is just a case of scaling up operations or if more dramatic industry-wide change is needed.
Regulators and users alike are working to break down the barriers between world exchanges in a fight to open up the market and reduce costs, writes Frances Maguire.
Competition and consolidation among exchanges, on both sides of the Atlantic, is reshaping the clearing models for exchange-traded derivatives, reports Frances Maguire.
Sepa, the European Commission’s plan to create a domestic environment for euro payments, has launched. However, as Frances Maguire reports, the process has just begun on what will be a very long journey.
Prime brokers are investing in smarter systems to manage risk and collateral across multiple asset classes. Frances Maguire looks at how far this ability to mark-to-market in real-time will go.
The T-Charter, a code of best practice for transition managers, was unveiled at the end of 2007, but even before the ink was dry it appeared that it did not go far enough. Frances Maguire looks into whether the industry is better or worse off.
Specialist advice in operational risk management is readily available but practical, constructive tools and techniques for the day-to-day management of risks are less developed. Frances Maguire reports on the move to benchmark best practices in operational risk.
As cash rapidly becomes a strategic asset for corporates and asset managers, Frances Maguire looks at the outlook for 2008, post credit crisis.
Algorithmic trading was blamed for the escalating volatility spikes in August. Frances Maguire asks if this is a fair criticism as well as looking at how algorithms are getting smarter.
Having fewer bank accounts in Europe post-Sepa will enable corporates to pool funds more effectively but, as Frances Maguire reports, liquidity management solutions will still be needed.
The US subprime crisis ended one of the biggest bull markets to date but will it cause corporates to revert back to cash? Frances Maguire reports.
Swift’s new CEO, Lázaro Campos, talks to Frances Maguire about his plans for Swift in the immediate future and beyond, including regionalisation, courting US institutions and working on the integration of portals.
More than a year after the Giovannini Group’s original deadline for removal of all 15 barriers to the creation of an integrated clearing and settlement system for European securities trades, only one barrier has been fully removed.
The US and European stock exchanges have long dealt with competition from alternative trading systems, but with the challenge from Project Turquoise, is this trend likely to go global? Frances Maguire reports.
Despite huge technological advances, firms still issue clunky, non-standardised activity announcements – that can be misinterpreted. Frances Maguire assesses the industry’s attempts to automate the process.
The securities lending market has grown up around bilateral dealing and sealed bids. Frances Maguire asks if a new electronic trading platform will convince the industry to change.
The European Commission is reviewing pre-trade and post-trade transparency in the bond market. Frances Maguire asks if the bond market’s self regulation could prevent mandatory transparency requirements, similar to the equities market.
The delay of the Payments Services Directive means that the Single Euro Payments Area will go live in a phased approach. Frances Maguire looks at the impact this will have.
The Code of Conduct for Clearing and Settlement is being hailed as an important step in pulling down the barriers to cost-effective, cross-border clearing and settlement in Europe.
Target2-Securities, the European Central Bank’s controversial proposal to build a single settlement platform for euro-based securities, would split settlement from custody. Do the proposals go too far or not far enough, asks Frances Maguire.