On 5 December, we welcomed over 100 leading Buy Side professionals to the magical Kensington Roof Gardens for the Global FX meeting in London with the sole aim of debating the big issues impacting FX right now such as Brexit, MiFID II, liquidity and post-trade transparency.
The meeting was opened by David Clark, Chairman of The Wholesale Markets Brokers’ Association who chaired the keynote debate on international cooperation between Central Banks and the Global Code of Conduct for the FX markets which was published on 25 May 2017
The panel featured Christophe Beuve, Directorate General of Market Operations, European Central Bank, Meredith Beechey Osterholm, Division for Market Analysis and Operations, Monetary Policy Department, Riksbank and Vladimir Shapovalov, Head, International Markets Department, Central Bank of Russia
David Clark set the scene for the establishment of the Global Code of Conduct in the wake of the Libor scandal in 2013. Fast forward four years and on 29 November 2017, 15 banks, including the European Central Bank and the Riksbank signed the Statement of Commitment to the Global Code of Conduct which indicates demonstrates the Central Banks are leading by example. .
The meeting concluded with an interview by Anthony Belchambers, Financial Services Negotiating Forum Advisory Board talking to Kay Swinburne, MEP for Wales about the impact of Brexit negotiations on the FX trading community in particular looking at issues such as equivalence and clearing.
The Finance Hive have prepared a 5 minute debrief which summarises the key discussions from each round table and we look forward to welcoming our members to the next Finance Hive Live in 2018.