International Organisation of Securities Commissions (Iosco)

Iosco pre-hedging review: more RFQs than answers

Iosco pre-hedging review: more RFQs than answers

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Consultation papers are like tea leaves or runes: observers study them for clues to future actions or events. Such is the case with Iosco’s latest consultation paper on the controversial practice of pre-hedging. The document, released last November, has raised niggling concerns among market participants that the global standard-setter may be weighing tighter rules on […]

Iosco mimics industry codes to tackle pre-hedging dilemma

Iosco mimics industry codes to tackle pre-hedging dilemma

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Draft recommendations proposed by international regulators to address controversy over the practice of dealers pre-hedging client orders have largely copied guidance already set out in industry codes. That’s good news for advocates of pre-hedging who may have feared stricter guidance, but has left its critics wanting more. “When it comes to the competitive request-for-quote scenario,

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