The CSRC plans to ban derivatives dealers from using QFII quotas to on-sell derivatives mirroring CSI 300 index futures contracts to offshore clients. The move looks set to challenge ETF fund managers when hedging China index-tracking funds.
China's State Council is advising the Shenzhen municipal government and local regulators about permitting renminbi conversion outside of currency restrictions
Barcap offers investors access to emerging market currencies
European Commission's Patrick Pearson says no member state has advocated an outright exemption for foreign exchange clearing
CEE and Russia in the spotlight – Société Générale interest rate and forex team focuses on the Russian corporate world
Risk awards 2011
Interdealer broker Icap will launch decimalised pricing on major currency pairs on EBS Spot on February 14, the broker told FX Week.
Choice of collateral currency
Barclays Capital’s December 2010 Global Outlook forecast for this year advises investors to buy commodities, credit and stay long-equities. Growth in 2011 is predicted to reach 4.5% as fears of a double-dip recession recede.
Asian banks likely to opt for harmonised OTC clearing approach with the US and expect higher hedging costs for corporates
Decision to join CLS Bank follows change in policy at Citi, Santander's former third-party CLS provider
Latest Financial Stability Report stresses importance of long transition to new rules, and concerns over central counterparty clearing
Pilot comes at a time when news reports suggest a group of 10 banks plan to launch a bank-only FX trading platform
Ready for launch
Currency ETCs have reached all-time highs as Ireland's impact on the eurozone sees the US dollar rebound.
Potential liquidity mirage in foreign exchange markets must be addressed, says Michael Cross
Citi indexes offers low-cost forex exposure
Push for global convergence in over-the-counter derivatives regulations means any US exemption is likely to be followed in other jurisdictions, says the EC’s Pearson
Three web seminars – in Hong Kong, London and New York – exploring key changes in international OTC derivatives regulation from a regional perspective
Expert paper calls on HMT to ensure EU legislation on clearing and reporting doesn't damage London's dominance or inhibit market activity in particular asset classes.
Further Plaza II-type agreement is unlikely, however, and only weak "peer pressure" applied to currency problems, says Barclays Young