Press releases

Press releases, latest news and views from EVIA

Article reports that the Derivatives Service Bureau (DSB) has decided not to change its fee model for 2019 following feedback from its clients. Article reports that the firm’s objective is to develop a fair fee model that does not intentionally penalise users in the system. Article refers to comments by Alex McDonald that governance arrangements for the UPI are reassuring and reflects the success of local operating units for LEIs.

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Article reports that Britain has consolidated its position as the global centre for FX trading 24 months on from the Brexit vote, with Reuters’ analysis demonstrating that FX volumes in Britain have grown by almost a quarter since April 2016 to a record daily average of £2.1 trillion in April 2018. This has been interpreted as a sign that London is likely to continue to be one of the world’s top two financial centres in coming years. Article includes comments from Alex McDonald highlighting that without an alternative venue to London that will house offshore dollars, the City will maintain its current position in FX markets.  

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Article reports that over half of the 29 buyside firms surveyed by Liquidnet have not implemented their Brexit plans due to uncertainty around the direction of Brexit negotiations. Of those surveyed, 83% of the respondents have developed a theoretical plan to respond to Brexit, although 17% are unsure of what to do. Article refers to comments from Alex McDonald around the increasing need for intermediaries to help firms manage uncertainties such as Brexit.

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Article reports that intermediaries could have an increased role in financial services following uncertainty around Brexit and other regulatory challenges. Article includes comments by Alex McDonald on how intermediation can increase efficiency in financial markets by adding price transparency. Article also includes comments from David Clark on how some larger banks are offloading clients as the interdealer business can be a useful source of liquidity.

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Article reports that the CPMI and IOSCO are looking into how OTC derivatives data should be treated as industry bodies strive to achieve meaningful information from trade repositories and streamline critical data elements used in OTC derivatives reporting. Article includes mention of how Evia found the latest FSB proposal for UPI “reassuring.”

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Article reports that the Committee on Payments and Market Infrastructures (CPMI) and the Board of the International Organization of Securities Commissions (IOSCO) are examining options for how OTC derivatives data should be treated as the industry seeks to obtain useful information from trade repositories whilst also streamlining the most important data elements that are used in OTC derivatives reporting. Article refers to comments made by Alex McDonald on how the latest FSB proposed governance framework for the unique product identifier (UPI) is reassuring.

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Article reports that the importance of intermediaries in financial markets is growing as Brexit and other regulatory challenges create uncertainty, according to Alex McDonald, as intermediation can increase price transparency as well as encouraging regulation or codification of conduct. Article also includes comments from David Clark on how some larger banks are creating an opportunity for smaller players by focussing on larger clients, thus allowing interdealer businesses to act as a useful source of liquidity. 

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