AFME establishes FXPB Group

The Global FX Division of AFME/SIFMA/ASIFMA has announced that it has formed a new working group to focus specifi cally on the challenges and issues surrounding Global FX Prime Brokerage and to implement OTC FX Clearing for clients.

First Published by e-Forex News: January, 2011

The Global FX Division of AFME/SIFMA/ASIFMA has announced that it has formed a new working group to focus specifi cally on the challenges and issues surrounding Global FX Prime Brokerage and to implement OTC FX Clearing for clients. The participants of the new group, co-chaired by Citibank, Deutsche Bank and JP Morgan, comprise a number of the global Prime Brokerage fi rms which are already actively involved with the Global FX Division. Commenting on the new group, James Kemp, Managing Director AFME’s Global FX Division said: “As we build out the Global FX Division, it is becoming clear that there is real benefi t in having a coordinated global body to respond to regulation and work to implement best practices and technology solutions for the FX clearing industry. We expect the new FX Prime Brokerage group to look at key issues such as client clearing models, ECN best practice and also to represent end client needs. We anticipate that we will be working closely with regulators and central banks.”