Euromoney (May Issue)
“Investigations into allegations of market fixing in foreign exchange are spreading into the very heart of the business. Those running the world’s biggest FX houses live in fear of what analysis of hundreds of millions of calls and emails will unearth.”
New York Times (November 20)
Last week, the Treasury Department decided to exempt “certain foreign exchange derivatives from rules under the Dodd-Frank reform law that are intended to reduce risk and increase transparency. The exempted derivatives—instruments known as foreign exchange swaps and forwards—represent a $4 trillion-a-day global market.” This “step back for derivatives regulation” invites new problems and could spur a future crisis.
Last week, the Treasury Department decided to exempt “certain foreign exchange derivatives from rules under the Dodd-Frank reform law that are intended to reduce risk and increase transparency. The exempted derivatives—instruments known as foreign exchange swaps and forwards—represent a $4 trillion-a-day global market.” This “step back for derivatives regulation” invites new problems and could spur a future crisis.
