UK Chancellor Promises FX Market Review, Benchmark Oversight

George Osborne
George Osborne announced the planned measures during his annual Mansion House speech on the state of the economy.

Speaking to an audience comprising leading figures from the City of London during his annual Mansion House speech, Osborne implied that recent troubles in FX had dampened the reputation of London's markets.

"The integrity of these markets matters to us. London is home to 40 percent of the global FX business, 45 percent of over-the-counter (OTC) derivatives trading, and 70 percent of trading in international bonds. And [Bank of England governor] Mark Carney and I intend to keep it that way," he

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