On Wednesday, the UK’s Financial Conduct Authority, along with the Bank of England and a Working Group, has asked the financial companies that are using synthetic LIBOR to adopt a permanent and robust alternative to the controversial LIBOR.
The FCA discontinued most of the LIBOR at the end of 2021. This prompted a majority of the industry to make a transition to SONIA, as £13 trillion LIBOR-referencing contracts converted to SONIA last December. It also added that there is no longer any sterling LIBOR-linked cleared derivatives.
But the UK agency introduced a synthetic LIBOR in November for two currencies, pound sterling and yen, for its temporary usage in existing contracts. “The FCA has been clear that synthetic LIBOR is a temporary
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ຂົວຫຼືຂົວສະພາບຄ່ອງແມ່ນອົງປະກອບທີ່ສໍາຄັນສໍາລັບນາຍຫນ້າທີ່ຊ່ວຍໃຫ້ລູກຄ້າຂອງພວກເຂົາສາມາດຊື້ຂາຍໃນອັດຕາລະຫວ່າງທະນາຄານໂດຍກົງຜ່ານນາຍຫນ້າ Prime ຫຼື Prime-of-Prime (PoP). ໃນຂະນະທີ່ຜູ້ຜະລິດຕະຫຼາດບໍ່ຕ້ອງການຂົວເພື່ອໃຫ້ບໍລິການລູກຄ້າ, ນາຍຫນ້າທີ່ສົ່ງຜ່ານຄໍາສັ່ງໄປຫາຜູ້ໃຫ້ບໍລິການດ້ານສະພາບຄ່ອງຫຼືສະຖານທີ່ປະຕິບັດເອເລັກໂຕຣນິກຕ້ອງການຂົວເພື່ອເຊື່ອມຕໍ່ເວທີການຄ້າຂອງພວກເຂົາກັບຕະຫຼາດລະຫວ່າງທະນາຄານ. ຂົວຖືກນໍາໃຊ້ຢ່າງກວ້າງຂວາງໃນການຊື້ຂາຍ forex. , ໂດຍສະເພາະສໍາລັບ Metatrader, ເວທີການຄ້າທີ່ນິຍົມທີ່ສຸດໃນໂລກ. ຂົວສາມາດເຊື່ອມຕໍ່ນາຍຫນ້າກັບນາຍຫນ້າທີ່ສໍາຄັນຫຼືກັບນາຍຫນ້າທີ່ສໍາຄັນ. ຜູ້ໃຫ້ບໍລິການເຊື່ອມຕໍ່ກໍາລັງສະຫນອງການແກ້ໄຂສ່ວນໃຫຍ່ແມ່ນມຸ່ງໄປສູ່ເວທີທີ່ນິຍົມທີ່ສຸດໃນຕະຫຼາດ - MetaTrader 4 (MT4) ແລະ MT5. ອົງປະກອບແມ່ນອີກສ່ວນຫນຶ່ງທີ່ສໍາຄັນຂອງການຫຼຸດຜ່ອນຄວາມສ່ຽງທີ່ເຫມາະສົມສໍາລັບນາຍຫນ້າ. ຄວາມຕ້ອງການຂອງຂົວໃນການຄ້າຂາຍຍ່ອຍຍ້ອນການເພີ່ມຂຶ້ນຂອງເວທີ MT4 ແລະ MT5, ນັບຕັ້ງແຕ່ນັ້ນມາ, ຄວາມຕ້ອງການເຕັກໂນໂລຢີຂົວໄດ້ເກີດຂື້ນ. ນີ້ແມ່ນເນື່ອງມາຈາກຄວາມຈິງທີ່ວ່າ Metaquotes, ບໍລິສັດທີ່ຢູ່ເບື້ອງຫລັງ MT4, ພຽງແຕ່ຄາດຄະເນວ່າແພລະຕະຟອມຂອງພວກເຂົາຖືກນໍາໃຊ້ເປັນການຊື້ຂາຍຂອງນາຍຫນ້າຊື້ຂາຍລູກຄ້າຢ່າງດຽວ. ນີ້ຫມາຍຄວາມວ່ານາຍຫນ້າກໍານົດວົງຢືມ, ກໍານົດການແຜ່ກະຈາຍ, ແລະການຊື້ຂາຍຕໍ່ກັບລູກຄ້າ. ຢ່າງໃດກໍຕາມ, ຕົວຈິງແລ້ວ, ພໍ່ຄ້າບໍ່ມີການເຂົ້າເຖິງໂດຍກົງກັບຕະຫຼາດ forex ຂາຍຍົກ, ແຕ່ນາຍຫນ້າຈໍານວນຫຼາຍບໍ່ເຕັມໃຈທີ່ຈະປ່ອຍໃຫ້ໄປຂອງ MT4 ໃນຄວາມໂປດປານຂອງເວທີອື່ນໆທີ່ໄດ້ຮັບການສະຫນັບສະຫນູນການເຂົ້າເຖິງຕະຫຼາດໂດຍຜ່ານເຄືອຂ່າຍການສື່ສານເອເລັກໂຕຣນິກ (ECN) ເນື່ອງຈາກຄວາມນິຍົມອັນໃຫຍ່ຫຼວງຂອງ MT4. ແລະດັ່ງນັ້ນການສູນເສຍລູກຄ້າທີ່ເປັນໄປໄດ້. MetaTrader ບໍ່ໄດ້ຖືກອອກແບບມາເພື່ອຕິດຕໍ່ສື່ສານກັບທະນາຄານ ຫຼືຜູ້ໃຫ້ບໍລິການດ້ານສະພາບຄ່ອງ ເນື່ອງຈາກ Metaquotes ບໍ່ໄດ້ປະຕິບັດໂປຣໂຕຄໍ FIX (ການແລກປ່ຽນຂໍ້ມູນທາງດ້ານການເງິນ). ອະນຸສັນຍາ FIX ແມ່ນການຕັ້ງຄ່າໂປໂຕຄອນການສື່ສານທາງອີເລັກໂທຣນິກໃນຕົ້ນຊຸມປີ 1990 ເພື່ອສະໜອງການແລກປ່ຽນຂໍ້ມູນທົ່ວໂລກໃນເວລາຈິງກ່ຽວກັບການເຮັດທຸລະກໍາຂອງຕະຫຼາດການເງິນ ແລະເຄື່ອງມືຕ່າງໆ. ດັ່ງນັ້ນ, ຊອບແວໄດ້ຖືກພັດທະນາໂດຍພາກສ່ວນທີສາມເພື່ອໃຫ້ MetaTrader ເຊື່ອມຕໍ່ພໍ່ຄ້າກັບທະນາຄານລະຫວ່າງປະເທດ.
ຂົວຫຼືຂົວສະພາບຄ່ອງແມ່ນອົງປະກອບທີ່ສໍາຄັນສໍາລັບນາຍຫນ້າທີ່ຊ່ວຍໃຫ້ລູກຄ້າຂອງພວກເຂົາສາມາດຊື້ຂາຍໃນອັດຕາລະຫວ່າງທະນາຄານໂດຍກົງຜ່ານນາຍຫນ້າ Prime ຫຼື Prime-of-Prime (PoP). ໃນຂະນະທີ່ຜູ້ຜະລິດຕະຫຼາດບໍ່ຕ້ອງການຂົວເພື່ອໃຫ້ບໍລິການລູກຄ້າ, ນາຍຫນ້າທີ່ສົ່ງຜ່ານຄໍາສັ່ງໄປຫາຜູ້ໃຫ້ບໍລິການດ້ານສະພາບຄ່ອງຫຼືສະຖານທີ່ປະຕິບັດເອເລັກໂຕຣນິກຕ້ອງການຂົວເພື່ອເຊື່ອມຕໍ່ເວທີການຄ້າຂອງພວກເຂົາກັບຕະຫຼາດລະຫວ່າງທະນາຄານ. ຂົວຖືກນໍາໃຊ້ຢ່າງກວ້າງຂວາງໃນການຊື້ຂາຍ forex. , ໂດຍສະເພາະສໍາລັບ Metatrader, ເວທີການຄ້າທີ່ນິຍົມທີ່ສຸດໃນໂລກ. ຂົວສາມາດເຊື່ອມຕໍ່ນາຍຫນ້າກັບນາຍຫນ້າທີ່ສໍາຄັນຫຼືກັບນາຍຫນ້າທີ່ສໍາຄັນ. ຜູ້ໃຫ້ບໍລິການເຊື່ອມຕໍ່ກໍາລັງສະຫນອງການແກ້ໄຂສ່ວນໃຫຍ່ແມ່ນມຸ່ງໄປສູ່ເວທີທີ່ນິຍົມທີ່ສຸດໃນຕະຫຼາດ - MetaTrader 4 (MT4) ແລະ MT5. ອົງປະກອບແມ່ນອີກສ່ວນຫນຶ່ງທີ່ສໍາຄັນຂອງການຫຼຸດຜ່ອນຄວາມສ່ຽງທີ່ເຫມາະສົມສໍາລັບນາຍຫນ້າ. ຄວາມຕ້ອງການຂອງຂົວໃນການຄ້າຂາຍຍ່ອຍຍ້ອນການເພີ່ມຂຶ້ນຂອງເວທີ MT4 ແລະ MT5, ນັບຕັ້ງແຕ່ນັ້ນມາ, ຄວາມຕ້ອງການເຕັກໂນໂລຢີຂົວໄດ້ເກີດຂື້ນ. ນີ້ແມ່ນເນື່ອງມາຈາກຄວາມຈິງທີ່ວ່າ Metaquotes, ບໍລິສັດທີ່ຢູ່ເບື້ອງຫລັງ MT4, ພຽງແຕ່ຄາດຄະເນວ່າແພລະຕະຟອມຂອງພວກເຂົາຖືກນໍາໃຊ້ເປັນການຊື້ຂາຍຂອງນາຍຫນ້າຊື້ຂາຍລູກຄ້າຢ່າງດຽວ. ນີ້ຫມາຍຄວາມວ່ານາຍຫນ້າກໍານົດວົງຢືມ, ກໍານົດການແຜ່ກະຈາຍ, ແລະການຊື້ຂາຍຕໍ່ກັບລູກຄ້າ. ຢ່າງໃດກໍຕາມ, ຕົວຈິງແລ້ວ, ພໍ່ຄ້າບໍ່ມີການເຂົ້າເຖິງໂດຍກົງກັບຕະຫຼາດ forex ຂາຍຍົກ, ແຕ່ນາຍຫນ້າຈໍານວນຫຼາຍບໍ່ເຕັມໃຈທີ່ຈະປ່ອຍໃຫ້ໄປຂອງ MT4 ໃນຄວາມໂປດປານຂອງເວທີອື່ນໆທີ່ໄດ້ຮັບການສະຫນັບສະຫນູນການເຂົ້າເຖິງຕະຫຼາດໂດຍຜ່ານເຄືອຂ່າຍການສື່ສານເອເລັກໂຕຣນິກ (ECN) ເນື່ອງຈາກຄວາມນິຍົມອັນໃຫຍ່ຫຼວງຂອງ MT4. ແລະດັ່ງນັ້ນການສູນເສຍລູກຄ້າທີ່ເປັນໄປໄດ້. MetaTrader ບໍ່ໄດ້ຖືກອອກແບບມາເພື່ອຕິດຕໍ່ສື່ສານກັບທະນາຄານ ຫຼືຜູ້ໃຫ້ບໍລິການດ້ານສະພາບຄ່ອງ ເນື່ອງຈາກ Metaquotes ບໍ່ໄດ້ປະຕິບັດໂປຣໂຕຄໍ FIX (ການແລກປ່ຽນຂໍ້ມູນທາງດ້ານການເງິນ). ອະນຸສັນຍາ FIX ແມ່ນການຕັ້ງຄ່າໂປໂຕຄອນການສື່ສານທາງອີເລັກໂທຣນິກໃນຕົ້ນຊຸມປີ 1990 ເພື່ອສະໜອງການແລກປ່ຽນຂໍ້ມູນທົ່ວໂລກໃນເວລາຈິງກ່ຽວກັບການເຮັດທຸລະກໍາຂອງຕະຫຼາດການເງິນ ແລະເຄື່ອງມືຕ່າງໆ. ດັ່ງນັ້ນ, ຊອບແວໄດ້ຖືກພັດທະນາໂດຍພາກສ່ວນທີສາມເພື່ອໃຫ້ MetaTrader ເຊື່ອມຕໍ່ພໍ່ຄ້າກັບທະນາຄານລະຫວ່າງປະເທດ.
ອ່ານເງື່ອນໄຂນີ້ to RFRs, and its availability is not guaranteed beyond end-2022,” the regulator clarified.
It will consider retiring 1-month and 6-month synthetic sterling
LIBOR
ເສລີພາບ
Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the “Libor scandal” became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading banks submits the interest rates at which they are willing to lend to other finance houses. They suggest rates in 10 currencies covering 15 different lengths of loan, ranging from overnight to 12 months. The most important rate is the three-month dollar Libor. The rates submitted are what the banks estimate they would pay other banks to borrow dollars for three months if they borrowed money on the day the rate is being set. Then an average is calculated. Long-Term Consequences of Libor ScandalThe Libor scandal showed arrogant disregard for the rules and that traders colluded for years to rig Libor, the banks’ lending rate. Libor is set by a self-selected, self-policing committee of the world’s largest banks. Starting in 2012, an international investigation into Libor, revealed an overall plot by multiple banks – notably Deutsche Bank, Barclays, UBS, Rabobank, and the Royal Bank of Scotland – to manipulate these interest rates for profit starting as far back as 2003. Investigations continue to implicate major institutions, exposing them to lawsuits and shaking trust in the global financial system. Regulators in the United States, the UK, and the European Union have fined banks more than $9 billion for rigging Libor, which underpins over $300 trillion worth of loans worldwide. Since 2015, authorities in both the UK and the United States have brought criminal charges against individual traders and brokers for their role in manipulating rates. The scandal has sparked calls for deeper reform of the entire LIBOR rate-setting system, as well as harsher penalties for offending individuals and institutions, but so far change remains piecemeal.
Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the “Libor scandal” became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading banks submits the interest rates at which they are willing to lend to other finance houses. They suggest rates in 10 currencies covering 15 different lengths of loan, ranging from overnight to 12 months. The most important rate is the three-month dollar Libor. The rates submitted are what the banks estimate they would pay other banks to borrow dollars for three months if they borrowed money on the day the rate is being set. Then an average is calculated. Long-Term Consequences of Libor ScandalThe Libor scandal showed arrogant disregard for the rules and that traders colluded for years to rig Libor, the banks’ lending rate. Libor is set by a self-selected, self-policing committee of the world’s largest banks. Starting in 2012, an international investigation into Libor, revealed an overall plot by multiple banks – notably Deutsche Bank, Barclays, UBS, Rabobank, and the Royal Bank of Scotland – to manipulate these interest rates for profit starting as far back as 2003. Investigations continue to implicate major institutions, exposing them to lawsuits and shaking trust in the global financial system. Regulators in the United States, the UK, and the European Union have fined banks more than $9 billion for rigging Libor, which underpins over $300 trillion worth of loans worldwide. Since 2015, authorities in both the UK and the United States have brought criminal charges against individual traders and brokers for their role in manipulating rates. The scandal has sparked calls for deeper reform of the entire LIBOR rate-setting system, as well as harsher penalties for offending individuals and institutions, but so far change remains piecemeal.
ອ່ານເງື່ອນໄຂນີ້ at the end of 2022 and will also decide on a date to put an end to the 3-month sterling synthetic LIBOR.
The Dominance of SONIA
The FCA’s decision to put an end to LIBOR also prompted other global regulators to urge companies to find alternatives to the widely used benchmark. By far, SONIA is the most used alternative in the UK. Its floating rate note issuance in cash markets exceeded £120 billion since 2018, and new SONIA lending went over £100 billion in diverse sectors.
According to the Bank of Estimates, less than 2 percent of the total sterling LIBOR legacy stock remains and notes still remained, and firms are already addressing this residual exposure.
“It is difficult to think of a more far-reaching and substantial market shift in recent years than the transition away from LIBOR, said Andrew Bailey, the Bank of England Governor. “The fact that most LIBOR settings ended at end-2021 with minimal disruption is a testament to the co-operation across a wide range of industry sectors and jurisdictions.”
On Wednesday, the UK’s Financial Conduct Authority, along with the Bank of England and a Working Group, has asked the financial companies that are using synthetic LIBOR to adopt a permanent and robust alternative to the controversial LIBOR.
The FCA discontinued most of the LIBOR at the end of 2021. This prompted a majority of the industry to make a transition to SONIA, as £13 trillion LIBOR-referencing contracts converted to SONIA last December. It also added that there is no longer any sterling LIBOR-linked cleared derivatives.
But the UK agency introduced a synthetic LIBOR in November for two currencies, pound sterling and yen, for its temporary usage in existing contracts. “The FCA has been clear that synthetic LIBOR is a temporary
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ຂົວ
ຂົວຫຼືຂົວສະພາບຄ່ອງແມ່ນອົງປະກອບທີ່ສໍາຄັນສໍາລັບນາຍຫນ້າທີ່ຊ່ວຍໃຫ້ລູກຄ້າຂອງພວກເຂົາສາມາດຊື້ຂາຍໃນອັດຕາລະຫວ່າງທະນາຄານໂດຍກົງຜ່ານນາຍຫນ້າ Prime ຫຼື Prime-of-Prime (PoP). ໃນຂະນະທີ່ຜູ້ຜະລິດຕະຫຼາດບໍ່ຕ້ອງການຂົວເພື່ອໃຫ້ບໍລິການລູກຄ້າ, ນາຍຫນ້າທີ່ສົ່ງຜ່ານຄໍາສັ່ງໄປຫາຜູ້ໃຫ້ບໍລິການດ້ານສະພາບຄ່ອງຫຼືສະຖານທີ່ປະຕິບັດເອເລັກໂຕຣນິກຕ້ອງການຂົວເພື່ອເຊື່ອມຕໍ່ເວທີການຄ້າຂອງພວກເຂົາກັບຕະຫຼາດລະຫວ່າງທະນາຄານ. ຂົວຖືກນໍາໃຊ້ຢ່າງກວ້າງຂວາງໃນການຊື້ຂາຍ forex. , ໂດຍສະເພາະສໍາລັບ Metatrader, ເວທີການຄ້າທີ່ນິຍົມທີ່ສຸດໃນໂລກ. ຂົວສາມາດເຊື່ອມຕໍ່ນາຍຫນ້າກັບນາຍຫນ້າທີ່ສໍາຄັນຫຼືກັບນາຍຫນ້າທີ່ສໍາຄັນ. ຜູ້ໃຫ້ບໍລິການເຊື່ອມຕໍ່ກໍາລັງສະຫນອງການແກ້ໄຂສ່ວນໃຫຍ່ແມ່ນມຸ່ງໄປສູ່ເວທີທີ່ນິຍົມທີ່ສຸດໃນຕະຫຼາດ - MetaTrader 4 (MT4) ແລະ MT5. ອົງປະກອບແມ່ນອີກສ່ວນຫນຶ່ງທີ່ສໍາຄັນຂອງການຫຼຸດຜ່ອນຄວາມສ່ຽງທີ່ເຫມາະສົມສໍາລັບນາຍຫນ້າ. ຄວາມຕ້ອງການຂອງຂົວໃນການຄ້າຂາຍຍ່ອຍຍ້ອນການເພີ່ມຂຶ້ນຂອງເວທີ MT4 ແລະ MT5, ນັບຕັ້ງແຕ່ນັ້ນມາ, ຄວາມຕ້ອງການເຕັກໂນໂລຢີຂົວໄດ້ເກີດຂື້ນ. ນີ້ແມ່ນເນື່ອງມາຈາກຄວາມຈິງທີ່ວ່າ Metaquotes, ບໍລິສັດທີ່ຢູ່ເບື້ອງຫລັງ MT4, ພຽງແຕ່ຄາດຄະເນວ່າແພລະຕະຟອມຂອງພວກເຂົາຖືກນໍາໃຊ້ເປັນການຊື້ຂາຍຂອງນາຍຫນ້າຊື້ຂາຍລູກຄ້າຢ່າງດຽວ. ນີ້ຫມາຍຄວາມວ່ານາຍຫນ້າກໍານົດວົງຢືມ, ກໍານົດການແຜ່ກະຈາຍ, ແລະການຊື້ຂາຍຕໍ່ກັບລູກຄ້າ. ຢ່າງໃດກໍຕາມ, ຕົວຈິງແລ້ວ, ພໍ່ຄ້າບໍ່ມີການເຂົ້າເຖິງໂດຍກົງກັບຕະຫຼາດ forex ຂາຍຍົກ, ແຕ່ນາຍຫນ້າຈໍານວນຫຼາຍບໍ່ເຕັມໃຈທີ່ຈະປ່ອຍໃຫ້ໄປຂອງ MT4 ໃນຄວາມໂປດປານຂອງເວທີອື່ນໆທີ່ໄດ້ຮັບການສະຫນັບສະຫນູນການເຂົ້າເຖິງຕະຫຼາດໂດຍຜ່ານເຄືອຂ່າຍການສື່ສານເອເລັກໂຕຣນິກ (ECN) ເນື່ອງຈາກຄວາມນິຍົມອັນໃຫຍ່ຫຼວງຂອງ MT4. ແລະດັ່ງນັ້ນການສູນເສຍລູກຄ້າທີ່ເປັນໄປໄດ້. MetaTrader ບໍ່ໄດ້ຖືກອອກແບບມາເພື່ອຕິດຕໍ່ສື່ສານກັບທະນາຄານ ຫຼືຜູ້ໃຫ້ບໍລິການດ້ານສະພາບຄ່ອງ ເນື່ອງຈາກ Metaquotes ບໍ່ໄດ້ປະຕິບັດໂປຣໂຕຄໍ FIX (ການແລກປ່ຽນຂໍ້ມູນທາງດ້ານການເງິນ). ອະນຸສັນຍາ FIX ແມ່ນການຕັ້ງຄ່າໂປໂຕຄອນການສື່ສານທາງອີເລັກໂທຣນິກໃນຕົ້ນຊຸມປີ 1990 ເພື່ອສະໜອງການແລກປ່ຽນຂໍ້ມູນທົ່ວໂລກໃນເວລາຈິງກ່ຽວກັບການເຮັດທຸລະກໍາຂອງຕະຫຼາດການເງິນ ແລະເຄື່ອງມືຕ່າງໆ. ດັ່ງນັ້ນ, ຊອບແວໄດ້ຖືກພັດທະນາໂດຍພາກສ່ວນທີສາມເພື່ອໃຫ້ MetaTrader ເຊື່ອມຕໍ່ພໍ່ຄ້າກັບທະນາຄານລະຫວ່າງປະເທດ.
ຂົວຫຼືຂົວສະພາບຄ່ອງແມ່ນອົງປະກອບທີ່ສໍາຄັນສໍາລັບນາຍຫນ້າທີ່ຊ່ວຍໃຫ້ລູກຄ້າຂອງພວກເຂົາສາມາດຊື້ຂາຍໃນອັດຕາລະຫວ່າງທະນາຄານໂດຍກົງຜ່ານນາຍຫນ້າ Prime ຫຼື Prime-of-Prime (PoP). ໃນຂະນະທີ່ຜູ້ຜະລິດຕະຫຼາດບໍ່ຕ້ອງການຂົວເພື່ອໃຫ້ບໍລິການລູກຄ້າ, ນາຍຫນ້າທີ່ສົ່ງຜ່ານຄໍາສັ່ງໄປຫາຜູ້ໃຫ້ບໍລິການດ້ານສະພາບຄ່ອງຫຼືສະຖານທີ່ປະຕິບັດເອເລັກໂຕຣນິກຕ້ອງການຂົວເພື່ອເຊື່ອມຕໍ່ເວທີການຄ້າຂອງພວກເຂົາກັບຕະຫຼາດລະຫວ່າງທະນາຄານ. ຂົວຖືກນໍາໃຊ້ຢ່າງກວ້າງຂວາງໃນການຊື້ຂາຍ forex. , ໂດຍສະເພາະສໍາລັບ Metatrader, ເວທີການຄ້າທີ່ນິຍົມທີ່ສຸດໃນໂລກ. ຂົວສາມາດເຊື່ອມຕໍ່ນາຍຫນ້າກັບນາຍຫນ້າທີ່ສໍາຄັນຫຼືກັບນາຍຫນ້າທີ່ສໍາຄັນ. ຜູ້ໃຫ້ບໍລິການເຊື່ອມຕໍ່ກໍາລັງສະຫນອງການແກ້ໄຂສ່ວນໃຫຍ່ແມ່ນມຸ່ງໄປສູ່ເວທີທີ່ນິຍົມທີ່ສຸດໃນຕະຫຼາດ - MetaTrader 4 (MT4) ແລະ MT5. ອົງປະກອບແມ່ນອີກສ່ວນຫນຶ່ງທີ່ສໍາຄັນຂອງການຫຼຸດຜ່ອນຄວາມສ່ຽງທີ່ເຫມາະສົມສໍາລັບນາຍຫນ້າ. ຄວາມຕ້ອງການຂອງຂົວໃນການຄ້າຂາຍຍ່ອຍຍ້ອນການເພີ່ມຂຶ້ນຂອງເວທີ MT4 ແລະ MT5, ນັບຕັ້ງແຕ່ນັ້ນມາ, ຄວາມຕ້ອງການເຕັກໂນໂລຢີຂົວໄດ້ເກີດຂື້ນ. ນີ້ແມ່ນເນື່ອງມາຈາກຄວາມຈິງທີ່ວ່າ Metaquotes, ບໍລິສັດທີ່ຢູ່ເບື້ອງຫລັງ MT4, ພຽງແຕ່ຄາດຄະເນວ່າແພລະຕະຟອມຂອງພວກເຂົາຖືກນໍາໃຊ້ເປັນການຊື້ຂາຍຂອງນາຍຫນ້າຊື້ຂາຍລູກຄ້າຢ່າງດຽວ. ນີ້ຫມາຍຄວາມວ່ານາຍຫນ້າກໍານົດວົງຢືມ, ກໍານົດການແຜ່ກະຈາຍ, ແລະການຊື້ຂາຍຕໍ່ກັບລູກຄ້າ. ຢ່າງໃດກໍຕາມ, ຕົວຈິງແລ້ວ, ພໍ່ຄ້າບໍ່ມີການເຂົ້າເຖິງໂດຍກົງກັບຕະຫຼາດ forex ຂາຍຍົກ, ແຕ່ນາຍຫນ້າຈໍານວນຫຼາຍບໍ່ເຕັມໃຈທີ່ຈະປ່ອຍໃຫ້ໄປຂອງ MT4 ໃນຄວາມໂປດປານຂອງເວທີອື່ນໆທີ່ໄດ້ຮັບການສະຫນັບສະຫນູນການເຂົ້າເຖິງຕະຫຼາດໂດຍຜ່ານເຄືອຂ່າຍການສື່ສານເອເລັກໂຕຣນິກ (ECN) ເນື່ອງຈາກຄວາມນິຍົມອັນໃຫຍ່ຫຼວງຂອງ MT4. ແລະດັ່ງນັ້ນການສູນເສຍລູກຄ້າທີ່ເປັນໄປໄດ້. MetaTrader ບໍ່ໄດ້ຖືກອອກແບບມາເພື່ອຕິດຕໍ່ສື່ສານກັບທະນາຄານ ຫຼືຜູ້ໃຫ້ບໍລິການດ້ານສະພາບຄ່ອງ ເນື່ອງຈາກ Metaquotes ບໍ່ໄດ້ປະຕິບັດໂປຣໂຕຄໍ FIX (ການແລກປ່ຽນຂໍ້ມູນທາງດ້ານການເງິນ). ອະນຸສັນຍາ FIX ແມ່ນການຕັ້ງຄ່າໂປໂຕຄອນການສື່ສານທາງອີເລັກໂທຣນິກໃນຕົ້ນຊຸມປີ 1990 ເພື່ອສະໜອງການແລກປ່ຽນຂໍ້ມູນທົ່ວໂລກໃນເວລາຈິງກ່ຽວກັບການເຮັດທຸລະກໍາຂອງຕະຫຼາດການເງິນ ແລະເຄື່ອງມືຕ່າງໆ. ດັ່ງນັ້ນ, ຊອບແວໄດ້ຖືກພັດທະນາໂດຍພາກສ່ວນທີສາມເພື່ອໃຫ້ MetaTrader ເຊື່ອມຕໍ່ພໍ່ຄ້າກັບທະນາຄານລະຫວ່າງປະເທດ.
ອ່ານເງື່ອນໄຂນີ້ to RFRs, and its availability is not guaranteed beyond end-2022,” the regulator clarified.
It will consider retiring 1-month and 6-month synthetic sterling
LIBOR
ເສລີພາບ
Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the “Libor scandal” became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading banks submits the interest rates at which they are willing to lend to other finance houses. They suggest rates in 10 currencies covering 15 different lengths of loan, ranging from overnight to 12 months. The most important rate is the three-month dollar Libor. The rates submitted are what the banks estimate they would pay other banks to borrow dollars for three months if they borrowed money on the day the rate is being set. Then an average is calculated. Long-Term Consequences of Libor ScandalThe Libor scandal showed arrogant disregard for the rules and that traders colluded for years to rig Libor, the banks’ lending rate. Libor is set by a self-selected, self-policing committee of the world’s largest banks. Starting in 2012, an international investigation into Libor, revealed an overall plot by multiple banks – notably Deutsche Bank, Barclays, UBS, Rabobank, and the Royal Bank of Scotland – to manipulate these interest rates for profit starting as far back as 2003. Investigations continue to implicate major institutions, exposing them to lawsuits and shaking trust in the global financial system. Regulators in the United States, the UK, and the European Union have fined banks more than $9 billion for rigging Libor, which underpins over $300 trillion worth of loans worldwide. Since 2015, authorities in both the UK and the United States have brought criminal charges against individual traders and brokers for their role in manipulating rates. The scandal has sparked calls for deeper reform of the entire LIBOR rate-setting system, as well as harsher penalties for offending individuals and institutions, but so far change remains piecemeal.
Libor stands for London Inter-bank offered rate. It is an industry-specific term which most of us would never have heard of until the “Libor scandal” became popularized in 2012. Libor is considered to be one of the most important interest rates in finance, upon which trillions of financial contracts rest. The Libor rate effects over $800,000,000,000,000 in financial deals. Banks simply cannot lend money to one another whenever they like as there is a system in place. Every day a group of leading banks submits the interest rates at which they are willing to lend to other finance houses. They suggest rates in 10 currencies covering 15 different lengths of loan, ranging from overnight to 12 months. The most important rate is the three-month dollar Libor. The rates submitted are what the banks estimate they would pay other banks to borrow dollars for three months if they borrowed money on the day the rate is being set. Then an average is calculated. Long-Term Consequences of Libor ScandalThe Libor scandal showed arrogant disregard for the rules and that traders colluded for years to rig Libor, the banks’ lending rate. Libor is set by a self-selected, self-policing committee of the world’s largest banks. Starting in 2012, an international investigation into Libor, revealed an overall plot by multiple banks – notably Deutsche Bank, Barclays, UBS, Rabobank, and the Royal Bank of Scotland – to manipulate these interest rates for profit starting as far back as 2003. Investigations continue to implicate major institutions, exposing them to lawsuits and shaking trust in the global financial system. Regulators in the United States, the UK, and the European Union have fined banks more than $9 billion for rigging Libor, which underpins over $300 trillion worth of loans worldwide. Since 2015, authorities in both the UK and the United States have brought criminal charges against individual traders and brokers for their role in manipulating rates. The scandal has sparked calls for deeper reform of the entire LIBOR rate-setting system, as well as harsher penalties for offending individuals and institutions, but so far change remains piecemeal.
ອ່ານເງື່ອນໄຂນີ້ at the end of 2022 and will also decide on a date to put an end to the 3-month sterling synthetic LIBOR.
The Dominance of SONIA
The FCA’s decision to put an end to LIBOR also prompted other global regulators to urge companies to find alternatives to the widely used benchmark. By far, SONIA is the most used alternative in the UK. Its floating rate note issuance in cash markets exceeded £120 billion since 2018, and new SONIA lending went over £100 billion in diverse sectors.
According to the Bank of Estimates, less than 2 percent of the total sterling LIBOR legacy stock remains and notes still remained, and firms are already addressing this residual exposure.
“It is difficult to think of a more far-reaching and substantial market shift in recent years than the transition away from LIBOR, said Andrew Bailey, the Bank of England Governor. “The fact that most LIBOR settings ended at end-2021 with minimal disruption is a testament to the co-operation across a wide range of industry sectors and jurisdictions.”
Source: https://www.financemagnates.com/institutional-forex/fca-asks-financial-firms-to-drop-synthetic-libor-for-robust-alternative/