Article discusses the shift away from LIBOR as the key derivatives benchmark. Commenting on the issue, David Clark, Chairman, WMBA, believes the industry is keen to move on as quickly as possible, and substantially in the form we have at the moment. However, while LIBOR has been a long-established benchmark for, David Clark asserts the market has become more sophisticated since its initial introduction in the 1980s.
Read more
Article reports on the announcement that eleven EU countries are in support of the European Financial Transaction Tax. David Clark, Chairman, Wholesale Markets Brokers’ Association, believes that a eurozone FTT might cause extra-territoriality problems, and the sooner it becomes a ‘truly dead parrot, the better’.
Read more
In-depth article discussing whether HFT is a positive or a negative development in FX trading, and where will it head from here. Looking forward, it would seem that the natural development for HFT firms would be to move into currencies outside the ‘Big Four’. According to David Clark, Chairman, WMBA, once HFT veers into less traded currencies, the impact of HFT on smaller pools will be magnified.
Read more
Article reports that leading figures across the financial services industry have suggested that there is growing evidence of regulators softening their stance on the wholesale imposition of Europe-wide rule changes. David Clark, Chairman, Wholesale Markets Brokers’ Association, believes there is simply a cold-blooded realisation that many rules are unworkable in their current form.
Read more
Article discusses the effects of the US presidential election on the Dodd Frank rule-making process. According to David Clark, Chairman, WMBA, even if changes are made to Dodd-Frank, it’s probable that banks, brokers and other platform providers will roll out the new regime anyway.
Read more
