Heering Ligthart President ACI-The Financial Markets AssociationFMK Director Fortis Bank.
Heering Ligthart President ACI-The Financial Markets AssociationFMK Director Fortis Bank.

FX – The Wild West of Capitalism?

Heering Ligthart argues that a truly global market such as foreign exchange probably cannot be regulated, but individual market participants can and should be.

First Published: e-Forex Magazine 7 / Foreword / July, 2002

In a recent article in the Wall Street Journal the global foreign exchange markets were referred to as " The Wild West of capitalism" . Even more interesting to read , in almost the same sentence, was the statement that these markets are still “unregulated “.Apart from the observation that a quality paper such as the Wall Street Journal used this extremely negative expression to characterise the foreign exchange markets, the article focused on only one instrument being used in these markets and gave no indication at all on how regulation should work. On the other hand how would the Wall Street Journal characterise the energy Derivatives market or the Chinese walls within Investment Banks.At the recent ACI European Congress in Luxembourg a major topic being discussed by one of the panels was Supervision or Regulation. This is very interesting and important for market-participants as it might have a real impact on our industry. During the Question and Answer session the question was...continued

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