Regulatory uncertainty, technological change and traders behaving badly have collided in a perfect storm for banks’ foreign exchange operations
Philip Nel, head of FX trading for Africa at Standard Bank in Johannesburg, anticipates a proliferation of new foreign exchange products in countries across the continent.
Corporate Debt | Capital Markets
Euroclear will extend its cross-border settlement services at the end of January to Mexican corporate debt instruments known as cebures, or “bourse certificates.” This will enable Mexican companies to issue peso-denominated debt specifically targeted to international investors.
Africa | Emerging Markets Regional Review
African economies are well on their way to transforming the region’s status from a frontier to an emerging market. The IMF predicts Africa will grow by 5.8% in 2015, up from 5.1% this year, with Chad, Côte d’Ivoire, Democratic Republic of the Congo and Mozambique projected to growth over 8%.
China | Capital Markets
In a major step toward opening China’s capital account, Hong Kong and Shanghai have linked their equity markets and abolished the cap on how much Chinese currency Hong Kong residents may purchase (or sell) daily.
Q&A | Capital Markets
Saugata Bhattacharya is the senior vice president and chief economist at Axis Bank in India.
India | Capital Markets
The rupee realizes international ambitions. The International Finance Corporation (IFC) sold its first rupee-denominated bonds in London in November to attract international investment in India’s infrastructure.
Canada & China | Capital Markets
Canada and China have agreed to support the increased use of renminbi in trade, commerce and investment between the two countries.
Foreign Exchange | Capital Markets
How to take the gaming instinct out of foreign exchange traders has become the order of the day, following last month’s imposition of $4.3 billion in fines on six global banks for manipulating currency benchmarks.
FX Supplement 2014 | Overview
Will regulation repair forex’s damaged reputation—and are banks ready for the culture change?
FX Supplement 2014 | Introduction
Many dyed-in-the-wool foreign exchange traders lament the regulatory changes sweeping the industry more than six years after the global financial crisis.
FX Supplement 2014 | Corporate Hedging
The recent surge in foreign exchange volatility may be catching some corporate treasurers by surprise after the currency market’s prolonged lull.
Al Rajhi retains its crown as the Safest Islamic Bank.
Global Finance’s annual list of Who’s Who in Foreign Exchange.
Trends | Foreign Exchange
The global imbalance created by Europe’s huge current-account surplus and excess savings has created a glut of euros that could condemn the single currency to broad-based weakening.
TRENDS | RENMINBI TRADING
Even though Toronto is the center of Canada’s financial industry, much of the country’s trade with China passes through Vancouver. Groups in both cities have decided to work together to promote Canada as a trading hub for the renminbi.
CAPITAL MARKETS | FOREIGN EXCHANGE
It is a changing world for FX traders. Regulatory uncertainty and low volatility are putting a damper on the foreign exchange market, with spreads narrowing by 20% already this year—to record lows.
COVER STORY: CRYPTOCURRENCIES
Still in their infancy, cryptocurrencies could change the way that companies manage payments for the goods and services that are the essence of global trade. As the bitcoin surge picks up momentum, corporate financial executives are wondering what it means for their business and how they can manage the risk of adopting—or not adopting—digital currencies.
CORPORATE FINANCING NEWS | FOREIGN EXCHANGE