Thomson Reuters is to publish a new proposed Matching Rule Book, applicable to the entire Thomson Reuters Matching community and designed to reflect a higher standard for acceptable trading behaviours in foreign exchange (FX).
Developed in consultation with market participants over the last 12 months, and in response to detailed analysis of trading activity on Thomson Reuters Matching platform, the new updated Rule Book is intended to encourage behaviours that sustain primary markets.
These include encouraging genuine interest at top of book, maintaining high certainty of execution and providing a fair and orderly trading experience for all market participants. Similarly, by raising the bar on expected trading behaviour the rules aim to discourage abuse, manipulation or disorderly conduct, as well as behaviours that do not enhance liquidity for the market as a whole.
“As a Financial Conduct Authority [FCA]-regulated trading venue, Thomson Reuters has a responsibility to guard that the trading behaviours and practices on its Matching platform comply with the market conduct rules that govern MTFs,” said Phil Weisberg, global head of FX, Thomson Reuters.
“Through a combination of platform controls and behavioural rules, the new updated Rule Book will seek to enhance liquidity for all clients trading on Thomson Reuters Matching. The proposed rules are based on feedback from detailed consultations with the market through the past year.”
GTNews asks Pugsley about what advice she would give to treasurers dealing with mergers and acquisitions, what the key challenges for her year ahead will be and how she is selecting a treasury management system (TMS).
The US money market fund reforms came into effect in 2016 and are already dramatically shaping US fund industry with investors flooding out of prime funds and into government securities. While the reforms are similar, they are not the same. GTNews interviews Yeng Bulter, global head of the cash business at State Street Global Advisors on the differences.
Tim de Knegt, strategic finance and treasury manager for the Port of Rotterdam, discusses how he is using blockchain, the challenges he will face in his role of treasury over the next 12 months and the advice he would give to someone starting out their career in treasury.
Due to the low interest rate environment and Basel III regulation many corporate treasurers, who may have in the past been very reliant on the banking sector to provide them with cash management solutions, have been forced to explore alternative options as banks have been refusing short dated cash deposits.