Business

RBI Working Group Suggested to Extend Forex Market Trading Hours

Published

4 years ago

August 4, 2019

An RBI working panel has suggested extending the forex market trading hours which will help in assessing demand and potential benefits. The panel has suggested setting trading hours from 9 am to 9 pm. In August 2018, the Reserve Bank of India (RBI) had decided to set a working panel to thoroughly review the timing of various markets it regulates. The review also included associated payment and settlement infrastructure. RBI is committed to regulate money market, Government Securities market, and foreign exchange market in the country.

According to the draft report of the working group, RBI is in a process to provide flexibility by reviewing and rationalizing foreign exchange regulation. Thus calibrated extension of market hours from 9 am to 9 pm may be considered to complete gauge demand and potential benefits.

The Fx brokerage‘ Association of India has set the market timing of interbank USD/INR forex transaction from 9 am to 5 pm. And some authorized dealers are allowed to carry retail transaction after the set timing. There is no limitation of time for transactions in cross currencies. Banks are free to set trade timing as per their internal policies.

The draft report also said, “Extension of exchange timings without corresponding extension in the OTC market could pose risk management issues (valuation and open position) for banks operating in both markets. Therefore, it is desirable to extend trading hours for both OTC and Exchanges.”

The working group has also suggested retaining current market timing for the G-sec market due to lack of demand from traders. Indian forex market is like a wholesale market and it is completely dominated by banks, forex brokers and corporate clients.

Business

Fitness Dating Brand, FITFCK, Expand Into Influencer Management

Published

2 weeks ago

November 27, 2023

Matthew Wiles

Fitness dating brand, FITFCK, recently announced the launch of their management company “FITFCK MGMT”. The company, which recently announced the launch of its £5m A Round investment raise is looking to expand on their brand growth by offering content creators of all niches and brands a full 360 lifestyle management service.

Rebranded in March 2022, the recently featured BBC News company has emerged as the leading brand for gym goers that are looking to make new connections – whether through IRL fitness dating events or online dating experiences. To accompany its strong digital product suite, FITFCK is now developing a series of consumer products to further enhance their brand power, with the most recent being a holistic management company for content creators and brands.

FITFCK Founder and UK Government Enterprise Advisor, Jamie says: “Having worked closely with content creators for the last eighteen months since our relaunch, this addition made nothing but complete sense to me. As a management service, you should be looking at improving all angles of your clients life – not just quick brand deals for a few quid. We are looking to offer a 360 lifestyle approach where we assist our clients with everything from their income, branding, business advisory, PR, legalities and more – all under the FITFCK brand umbrella.”

To continue its ruthless chase of becoming the largest omni-channel community for dating, relationships, casual meets and friendships, FITFCK will be looking to embed the management service into members of their ever growing community which already includes a number of high profile content creators.

The first creator to be signed under the label is Santino Valentino, a fitness content creator boasting over 70,000 followers across platforms. Valentino states; “I have known Jamie for a few months now and have felt nothing but constant support from himself and the rest of the FITFCK team. Having seen where they have taken the brand in such a short space of time, I am hoping they can do the same for me. I am really looking forward to seeing where we can take this whilst learning under Jamie and Callum simultaneously”

FITFCK MGMT athlete manager Callum Roberts added: “At the core of every FITFCK movement is the care we have for our community. This ethos is something that we will be looking to reflect in the management company. Hyper-focused care for our clients where they know they feel valued and at ease with us. We are not looking to just improve our client’s income, we are looking to improve their lifestyle”

If you are looking to work with FITFCK MGMT, you can contact the team at support@fitfck.co.uk for more information.