Our Resource Library will help equip you with the latest on the FX crisis, including perspectives, news, and solutions that are helping to shape the FX market going forward.
The FX Crisis
Collusion, market manipulation, and risky conduct have shaken the FX market. Authorities are aggressively instituting strict regulations to ensure it doesn't happen again. The stakes are high for the future of global currency trading. Do you know who's putting your FX organization at risk? Human risk is the biggest risk facing the FX market. Digital Reasoning provides financial institutions the best technology to find concealed relationships and hidden risks within electronic communications.
Trade Monitoring and Surveillance in FX Markets
Representatives from the industry regulator and vendors working with trading organizations came together in an event sponsored by Digital Reasoning, Nasdaq and TradAir to discuss changing compliance challenges and how to meet them.
Trade monitoring and surveillance in spot FX has come under intense regulatory scrutiny in the wake of recent collusion and benchmark manipulation scandals. There is an increasing need for trading firms, especially sell-side dealers, to demonstrate an auditable and near real-time record of all trading activities, including communications between traders.
Banks Seek Greater Insight Into Their Trading Activity
Banks are keen to adopt surveillance tools that will provide them with a greater understanding and insight into the trading activity within their institution, and the discussions that lead up to that activity, said panelists during FX Week’s trade monitoring and surveillance webinar.
FX Crisis Forcing Banking Surveillance Re-Think
Banks are being forced into a major reassessment of how they monitor and survey human communications following the recent regulatory investigations into FX market manipulation.
With already over $3.3 billion in fines levied against a number of major banks for the alleged misconduct of individual traders in the FX market, experts say that banks are looking for new surveillance tools and techniques to help them reduce this exposure.
Banks Look to Bolster Surveillance Tools
Digital Reasoning delivers powerful FX surveillance and monitoring technology to banks.
Banks are looking towards increasingly sophisticated surveillance and monitoring technology in FX, as they seek to reduce their risk exposures and ensure regulatory compliance. Last month a group of banks led by Goldman Sachs and Credit Suisse invested $24 million in Digital Reasoning, a firm that provides cognitive computing technology that aims to analyze vast amounts of data while mimicking the human reading process.
FX Crisis Webinar
Dealing with Human Risk and Restoring Trust within the FX Market
As the financial services industry looks to recover from the recent FX crisis and restore trust within the FX markets, banking executives are under pressure to fully understand the risks inherent within their organization.
This webinar will show you how Digital Reasoning's machine learning-based analytics platform, Synthesys, is helping leading FX organizations proactively and intelligently safeguard their FX business by revealing previously unknown risks and relationships within their electronic communications.
Foreign Exchange Solution Sheet
Proactively Detecting Market Manipulation
The credibility of the daily FX benchmark is critical to the health and wellbeing of the global financial system and the businesses that rely on it. This solution sheet explores the inherent risks within human communications and highlights how Digital Reasononing's approach can help restore trust in the FX Market.
FCA's Operation Dovercourt
FX Failings Technical Briefing
On 12 November 2014, the Financial Conduct Authority fined five banks £1.1 billion for failing to control business practices in their G10 spot foreign exchange (FX) trading operations and announced an industry-wide remediation program. This video is a technical briefing about how the FX market worked and how traders attempted to manipulate the market.