Thursday, 12 January 2017

CHAIRMAN'S MESSAGE - Sean Edwards, ITFA Chairman / Head of Legal at SMBC

Dear Members and Friends,

On behalf of the ITFA Board, I would like to take this opportunity to wish you all a very Happy New Year and all the very best for 2017. May the year ahead bring good health, peace and prosperity.

The ITFA team is currently in the process of compiling a list of scheduled events for the year ahead. The 2017 Events Calendar can be viewed on our ITFA website and will be updated on an ongoing basis. Click on this link to find out more information about our events.

To think that emerging markets would have had the run they did in 2016 following the dismal start to the year, and come out of it more than unscathed is no mean feat. Let's face it, 2016 was a challenging year for emerging markets, but comparative performance against 2015 helped alongside favourable views of EM resilience and future growth.

In December, the Fed raised interest rates by 25 basis points, indicating that in 2017 there could be yet another three rate hikes should positive economic conditions persist and warrant such a move. This unsurprisingly had an adverse effect on Emerging Markets but nevertheless ended the year with an optimistic momentum. Having said that, 2016 is inevitably not going to be repeated so we must all remain with our feet held tightly to the ground in 2017 and embrace ourselves for an era of possible higher interest rates in the US, so all eyes will be on the US dollar this year.

Amongst the themes which are likely to arise in trade this year are digitisation and a hoped-for reversal in the tide of compliance and regulation, the latter aided by pronouncements from the impending Trump presidency. In digitisation, many predict the scales will fall from the eyes of the cyber-dinosaurs as the old embrace the possibilities for new products (or maybe repackaged e-versions of old ones) along with young and start to love the productivity savings which could open whole new customer markets.

In the very first edition of the 2017 ITFA Newsletter you will find an interesting article titled ''The Global Economy: What's in store for 2017'', which was prepared by Giovanni Bartolotta, FIMBank - Senior Vice President; Head of Risk Management. One also finds the regular feature: our ‘Chart of the Month”contributed by Dr. Rebecca Harding of Equant Analytics - Trade in 2017. We have also included an article highlighting the inclusion of an Events Photo Gallery in the ITFA website.

May I take the opportunity to thank all associates, partners and sponsors for their support in 2016. Should any of our members wish to contribute to our website, and become website sponsors, please send an email to Your contribution is highly valued.

We look forward to hearing from you with any feedback you may want to share with us by sending an email to myself, any of the Board Members or to our general email,  

Best wishes

Sean Edwards

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