Findings from Greenwich Associates 2015 FX survey

The advent of a global code of conduct for the FX market should bring greater consistency, fairness and transparency to key industry practices.

With the onset of central clearing and a growing regulatory overhang, market participants are under historic pressure to fully understand the impact of collateral and credit valuation on their portfolios.

Electronic trading in the fixed income markets is at a crossroads. Regulatory pressures and capital constraints have changed the economics of the business and promise to create a new market structure. In this emerging world, the buy-side community has the opportunity to be increasingly active as the balance of power shifts. That’s good news for trading and communications platforms, which up to now had been constrained by the use of the telephone and a long-established two-tiered market structure.

Final implementation of MiFID II is now just under 18 months away, yet the systems required to comply with the APA regime for pre- and post-trade reporting have not yet been built. Time is running out for the industry to assess the implications of these rules and to build the systems to comply, says Chris Leonard-Appleton at Thomson Reuters.

Thomson Reuters FXExchange 2015 brings together leading FX industry experts on topics affecting all participants in the world’s most liquid asset class.