Articles by Joel Clark
Banks are retreating from market-making, managers warn
Forex investment has became more challenging, as market-making banks facing new regulation have become less willing to take risk, say buy-side firms
Margin rules for uncleared FX rest with regulatory working groups
Regulators must adopt a calibrated approach to mandated collateral so that short-dated FX swaps and forwards are not caught up in the rules unnecessarily, argue market participants
LCH.Clearnet’s ForexClear awaits regulatory approval
Forex clearing platform for NDFs is ready for launch, pending regulatory approval, LCH.Clearnet confirmed in its annual report
Exemption for forex swaps and forwards should hold, says GFMA’s Kemp
James Kemp, managing director of the global foreign exchange division, talks to FX Week about the biggest regulatory challenges of 2012
FX clearing has taken an illogical course, panellists warn
Non-deliverable forwards are the current focus for FX CCPs and banks, but panellists argue the risk in those products is negligible
CLS pushing 'transformation' agenda, says Bozian
The central settlement utility is feeding greater resources into expanding its universe of currencies, according to chief executive Alan Bozian
Bank of England sets out code of practice on electronic trading
Members of the FX Joint Standing Committee comment on the recently reviewed Nips code, which includes a new section on electronic trading
Riccardo Rebonato quits RBS for Pimco
Ex-head of front-office risk management and quantitative research will join Pimco on December 1 as head of rates and FX analytics
FX Invest Middle East: Volatility is tough and unsustainable, say managers
Delegates at FX Invest conference in Dubai discuss Japanese intervention, the value of emerging market currencies and their outlook on volatility
FX Invest Middle East: Mena region dodges Arab Spring 'curveball'
HSBC's senior economist for the Middle East and North Africa tells delegates at FX Invest conference the region has dealt with two big challenges this year, but it stands in better shape than some developed economies
FX Week Asia: Options clearing on hold, prime brokers confirm
Forex clearing will be restricted to non-deliverable forwards as US authorities discuss whether settlement risk can be properly managed for cleared forex options, according to speakers at the FX Week Asia conference in Singapore
FX Week Asia: Corporate hedgers rattled by volatility
Tumultuous foreign exchange market in September has left some hedging strategies in disarray and led to more timely exposure monitoring in one treasury department, say corporate treasurers speaking at FX Week Asia
FX Week Asia: World economy 'needs alternative reserve currency'
Chinese renminbi looks poised for reserve status, but still no consensus on when it will happen due to forces beyond "anyone's control", senior academic tells FX Week Asia conference in Singapore
LCH.Clearnet eyes November launch for NDF clearing
London-based CCP is set to launch clearing for NDFs in six currencies in mid-November, having shelved plans for options clearing while banks discuss settlement-related issues with regulators
HFT is changing the ecology of the forex market, says BIS committee
Bank for International Settlements report on high-frequency trading in the forex market is lukewarm about recent initiatives to monitor HFT, and recommends further analysis by regulators and participants
HFT is changing the ecology of the FX market, says BIS committee
Bank for International Settlements report on high-frequency trading in the FX market is lukewarm about recent initiatives to monitor HFT and recommends further analysis by regulators and participants
Multiple repositories must adhere to common standards, says CPSS-Iosco
International coalition of regulators recognises the likelihood that multiple trade repositories will be set up along global, regional or national lines and sets out recommendations for minimum standards
Banks departs BNP Paribas
BNPP's global head of forex and local market sales left the bank last week and is expected to leave the industry altogether after 24 years
New proposals could take the sting out of Sefs, say industry experts
The appearance of the Sef Clarification Act last month, coupled with a changing mood in Washington, DC, has given rise to a more positive outlook among e-commerce experts
Investors caught out by strength of Swiss franc and yen
Intervention from Swiss and Japanese authorities last week to weaken currencies meets with mixed success and leaves trading desks facing uncertain environment
Questions raised over UK’s forex volume surge
Market participants attribute a range of factors to the 23% rise in foreign exchange turnover in the UK reported by the Bank of England's FX Joint Standing Committee on July 25
Greece’s second bail-out met with relief
Traders and strategists believe latest rescue package is a positive development, but expect further pain ahead as it is implemented
FX Week USA: Recovery has taken a nose dive, IMF warns
Monetary and capital markets deputy director Christopher Towe tells conference delegates that ongoing vulnerabilities could sow the seeds of the next crisis
Forex options clearing complicated by guaranteed settlement requirements
CPSS-Iosco guaranteed settlement requirements make foreign exchange options clearing more difficult, say participants