Heering Ligthart President ACIThe Financial Markets AssociationMerchant / Institutional Banking Fortis Bank.
Heering Ligthart President ACIThe Financial Markets AssociationMerchant / Institutional Banking Fortis Bank.

Cyber Regulation?

Heering Ligthart argues that regulators should focus on the quality of traders and introduce an official accreditation for wholesale market particpants as in equity and bondmarkets.

First Published: e-Forex Magazine 11 / Foreword / July, 2003

In this rapidly evolving world it is becoming more and more difficult for supervisors and regulators to develop themselves at the same pace as products and markets are developing.Theoretically these organisations will always run behind the market and market participants. Market participants are creative in many ways: new structures, new technology, new hedging techniques and some times they are using their creative skills to mislead their superiors, their back – and mid-office staff and consequently their regulators/ supervisors. The task of regulators is getting even more complicated when markets and products are becoming more and more cross-border orientated and traded.Foreign Exchange has been globally orientated from the start and by nature. Nowadays FX is still the only truly global market and by far the biggest market in spite of the 19 percent decline in daily turnover; (see BIS survey April 2001.) Other markets are becoming more and more internationally, not globally; orientated. The Eurozone...continued

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