MilitiaMan Friday Afternoon "Geared to Go Live" 10-4-19


Samson:  Refinitiv launches FX & Money Market awareness program with Central Bank of Iraq

As part of the collaboration with the CBI, Refinitiv organised a specialised workshop hosting 19 Iraqi banks in Beirut, Lebanon

1st October, 2019 Press Release

In partnership with the Central Bank of Iraq (CBI), Refinitiv is rolling out an awareness program to promote FX global best practices in Iraq.

As part of the collaboration with the CBI, Refinitiv organised a specialised workshop hosting 19 Iraqi banks in Beirut, Lebanon. The workshop covered a wide variety of FX themes aimed at enhancing the practice, upgrading the technology tools, and cementing Interbank collaboration within the Iraqi financial and banking community.

“It is crucial we implement global practices as we move to a more regulated FX & Money Market (MM) Trading in Iraq. Our partnership with Refinitiv will raise the quality of our Interbank collaboration and allows our key banks to explore a new spectrum of technology tools used by FX and MM traders globally.  We look forward to rolling out more awareness sessions aimed at educating the Iraqi banking community on the latest trading conventions and tools,” Dr. Mahmoud Dagher, General Director, Central Bank of Iraq.

“We are proud to be part of the CBI’s vision to develop a sound Iraqi interbank community.  In today’s evolving FX markets, banks need flexible trading platforms and tools that provide control over electronic pricing, distribution and hedging to meet the growing demands of their client base and improve internal efficiency through automation,” Nadim Najjar, Managing Director, Middle East and Africa, Refinitiv, said.

“Our collaboration with CBI was the result of extensive research, preparation and coordination which will benefit the Iraqi banking community,” Najjar concluded.

Refinitiv offers the world’s leading independent source of trusted FX market insight, interbank and dealer-to-client electronic trading venues, workflow management, and post-trade and
regulatory support for both sell- and buy-side market participants.

About Refinitiv

Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community - driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.  LINK

MilitiaMan:  This picture should make you or us all smile.. The CBI on the 10/01/2019 has since been in extensive research, preparation and coordination to go live globally!

They have the ability of global distribution now from the looks of it. They'll need to tell us the new rate for the nscn's too. Frank told us the banks have been saturated with then.  imo Let that sink in.

Aside from the what appears to me as relatively controlled chaos with the demonstrations of late. That is not necessarily a bad thing for us (Sadly some have been injured and lost their lives.), however, the affect it has is pushing reforms into the forefront just as this article is showing us they are geared for to go live now into the future.

All is done for a purpose, and both being completely different things are in line with a need to push and move forward and enter a global market economy.

What better place to do it than the FX markets.. Many demonstrations are done for a purpose and have orchestration and coordination among participants, just as the FX has participants that need similar coordination to be effective.

So, at this stage with Al Sistani talking to the citizens today, makes me feel that the effects from the somewhat orchestrated events since the 1st,  the day this article was made public tells me the canvas they painted is just about dry now. imo

All is good for us and those looking for a bright future in Iraq. (Aside from those aforementioned.) So lets see if the saturation and distribution gets out to the citizens this weekend or there real close.

The 15th is not far off. Lots of things line up on that date.. As in the 2020 Budget, citizens demands, China Taxes and Tarrifs with the USA, etc.  ~ imo ~ MM