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- Title
Markets and operations.
- Abstract
This article reviews developments in sterling fixed income and foreign exchange markets since the Autumn Quarterly Bulletin. * Sterling forward interest rates from futures and gilts fell out to just beyond five years and rose a little beyond that. Sterling's effective exchange rate index increased slightly. * The FTSE All-Share index fell sharply to late September, but in the second half of the period it rose and equity market volatility fell from high levels. * Since CLS Bank International commenced live operations in September 2002, the value of trades, including in sterling, settling through Continuous Linked Settlement has grown sharply. * Work continues to enable money market instruments to be issued in electronic form and to be settled in CREST, with delivery-versus-payment, reducing daylight credit exposures, from the second half of 2003.
- Subjects
UNITED Kingdom; FIXED-income securities; FOREIGN exchange market
- Publication
Bank of England Quarterly Bulletin, 2002, Vol 42, Issue 4, p357
- ISSN
0005-5166
- Publication type
Article