Trading
China needs an RMB liquidity absorber – HK might be the answer
Increasing HKMA’s CNH debt issuance could help cement renminbi’s role in financial markets
Buy-siders to face rising settlement risks when 2 becomes 1
Non-US asset managers may miss crucial window to settle trades with CLS after switch from T+2 to T+1
Fidelity FX forwards trades propel BofA to top dealer spot
Counterparty Radar: Bank of America takes dealer rankings lead in Q1 for the first time
MassMutual drives JP Morgan’s FX forwards surge with insurers
Counterparty Radar: Bank’s total values rise 72% in Q4 to crack top 10 dealer rankings for first time since Q2 last year
Buy-side firms eye perks of being a liquidity provider
Larger players increasingly see themselves as LPs and are asking for more in return
GFXC fosters global awareness of T+1 impact on FX
Many non-US firms yet to realise forex implications of the country’s shift to shorter settlement times
Fast LPs accuse rivals of maxing out last look response times
Firms with sub-10ms checks complain of losing volumes to slower rivals, prompting one to ditch ECNs
Barclays’ global co-head of EM and G10 flow trading departs
James Hassett leaves UK bank after 17 years in various senior FX trading roles
Isda survey explores refresh of FX derivatives rule book
Lawyers agree updates to definitions are needed, but some areas of focus may prove controversial
BNPP, BofA and Nomura ditch last look add-on
Majority of top 25 LPs have now removed hold times as regulators step up scrutiny of controversial practice
Why NDF execution algos might still hit the spot
Products have yet to live up to initial hype, but their long-term potential is significant
Citi’s global head of FX to depart
Stuart Staley to leave in May, according to internal memo
Why KfW revived an old idea for cross-currency collateral
Transport currency concept re-emerges at SwapAgent, but dealers warn of hidden FX risks
Mizuho fined over deal contingent FX forwards
CFTC finds clients weren't told about pre-hedging activity that likely resulted in worse pricing
Athene dominates FX forwards market for US life insurers
Counterparty Radar: Morgan Stanley claims top dealer spot in $56 billion sector
Large US funds shrink exposure to top FX forward counterparties
Smaller managers increase top-dealer allocations as big beasts pull back
Isda’s fork provision gives crypto market plenty to chew over
Not everyone is happy with the discretion new digital definitions offer to calculation agents
FX options hint at potential for euro shock
Months-long rally powered by ongoing hikes, but euro-bears fear economy will crack
RBC eyes AI to bolster FX and rates algos
Canadian bank plans to take deep reinforcement learning tech from equities to fixed income and currencies
LCH plans for Q4 bitcoin derivatives clearing launch
CCP will run segregated default fund; does not rule out following up with ether-based contracts
CVA desks avoided re-hedging as Credit Suisse teetered
As credit spreads blew out, dealers opted not to adjust rates and FX risks
Stemming the tide of rising FX settlement risk
As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market
ING’s digitisation efforts boost eFX trading flows
Liquidity provider says upgrades to e-trading engine enable it to hold on to risk for longer
Chinese corporates step up FX hedging after reopening
Exporters eye hedges as RMB strengthens, but negative forwards points are a turn-off for some