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liquidity and market structure ,” says Hock . “ I spoke to regulators , central banks and treasury departments about the negative implacations making them aware of that . It ' s important to have an intensive communication with regulators . At the end of the day , they decide about the framework we operate in , but it ' s important also to share thoughts from an investors perspective and potential concerns on regulatory initiatives to give them the opportunity to have second thoughts about it .”
The regime sought to make it mandatory for a failing counterparty to have a buy-in initiated against it with limited time and flexibility as to when this could be completed . Institutions across the Street have canvassed the regime for years due to the damage it could pose to liquidity by discouraging counterparties from making markets . The regulation was originally due to come into play in February next year , however , lobbyists managed to get it delayed again in November with experts predicting this time it could be for several years .
Hock has been involved in most ongoing regulatory discussions to grip the market in the last year , sitting within an FX group with the European
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