The deadline for registering statements of commitment for the global code is only a day away, and market participants are reporting difficulties finding who has signed up, with statements spread out across eight registers – but GFXC has a plan to alleviate the problem.

A rule many thought had died silently in the legislative process is about to be resuscitated, and bond market pros say it will be devastating to bond market liquidity.

ECM bankers look safer from automation than their DCM colleagues, whatever Spotify might be up to.

Objective to increase transparency has largely failed but liquidity remains resilient, say senior traders.

The country’s Employees Provident Fund puts considerable effort into Shariah compliance from an ESG framework. Could chief executive Shahril Ridza Ridzuan have hit upon a template for other Islamic funds?

March 2018

Collect everything and store it for ever, or only collect some data and destroy it as soon as possible? That is the question facing bank compliance officers struggling with Mifid II and GDPR.

Comments made by the US regulator at an FX industry event in Miami in February have raised the hackles of some market participants over the thorny issue of ghost or phantom liquidity.

The Financial Conduct Authority (FCA) director in charge of stamping out market abuse sees her work as a dialogue with the industry.

The findings of JPMorgan’s 2018 e-trading survey underlined yet again the importance of effective execution policies and systems.

The forex market may have had a quiet 2017 with no big market dislocations, but liquidity is not as deep as it once was, while the buy side is becoming more discerning, driving changes in trading behaviour.

JPMorgan’s annual institutional e-trading survey shows rising appetite for mobile trading, but growth in algo execution has been slower than anticipated.

With just under half of Bank of America’s staff reporting to her, Cathy Bessant is one of the most powerful people in banking. She sees technology now developing faster than banks’ ability to implement it – or work out what to do with it – and believes cyber security to be the most important challenge of all.

Equities is a business where only the top handful of banks traditionally make money. It is also a sector with shrinking volumes and revenues. So why are two banks outside the top tier – Citi and HSBC – trying to boost their franchises?

Banks are booking big charges in the fourth quarter, but the domestic names are sitting pretty for the future as US taxes fall.

Some of the blips thrown up by the launch of the new regime look like more than just teething problems.

The demands of post-crisis regulation mean that banks need to take a more flexible approach to the compliance function.

For the banking industry, 2017 was a time of trying finally to resolve issues of the past and avoid new mistakes, yet dig beneath the surface and it was also 12 months of intrigue and, sometimes, farce. Here are Euromoney’s alternative awards for 2017.

Primary debt capital markets have been remarkably slow to embrace technology. Vested interests are at play: lucrative underwriting fees will not be wrested from the banks without a fight. But automation is coming, partly driven by regulators looking into dysfunctional allocation.

No one doubts JPMorgan's global influence, but it still needs to fill some holes in its corporate bank

Global growth will be a key driver of currencies in 2018, a year in which the foreign-exchange industry will have to adapt to the strictures of Mifid II and a self-governing code of conduct.

FX market participants have benefited from guidance on good practices and the availability of sophisticated technological solutions, but implementing a surveillance programme remains a considerable undertaking.

Are non-bank market makers simply repackaging existing liquidity or are they genuinely adding to market flows?

November 2017 issue

SEC action just delays a final reckoning on the rules.

From integration to level playing fields: the discussions at this year’s IIF meetings in Washington were dominated by talk of combating divergence. Other familiar complaints were still present, but the overall tone was less fearful than in 2016.

Co-location providers are getting a boost from higher levels of electronic trading, the ambitions of Asian brokers to grow their businesses in Europe, ongoing concerns over cybersecurity and regulatory factors.

BNY Mellon and HSBC hope that, in an illiquid fixed income market with no registry of beneficial owners, their asset management clients may benefit from alerts about other counterparties wishing to buy or sell bonds.

As exchanges look to snap up a bigger share of foreign-exchange business, they face the challenge of catering to investors’ multiple trading models.

As research departments become revenue earners, their coverage universe will become a crucial part of the business strategy.