Exchanges
PBoC designates renminbi-clearing banks for France and Luxembourg
Bank of China and the Industrial and Commercial Bank of China to serve the offshore RMB markets of the two countries
ForexClear adds PEN to cleared currencies
Clearing house can now handle 12 currencies and more than 95% of non-deliverable forward markets
Ice's CLS service cut by JP Morgan
The Atlanta, Georgia-based exchange and clearing house has had its CLS settlement service discontinued, just like CME
Cross-margining key for RMB futures market - SGX
Cross-margining contracts across asset classes will give SGX a competitive advantage, with up to 30% margin savings, the exchange claims
CME to expand paired delivery as banks rethink third-party CLS
As banks scale back provision of CLS settlement to exchanges and CCPs
Fed official reiterates FX options-clearing guidelines
Lawrence Sweet highlights industry discussions around FX options clearing as a key component of a private-sector solution
Fat-finger error halts yen trading on CME
Price swing due to human order, market participants says, not rogue algorithm
CCIL-cleared forex forwards volumes double after mandate
European banks begin clearing in India, despite lack of an EU equivalency ruling
Paired delivery floated as options-clearing solution
A paired-delivery model proposed by CME has not been looked upon favourably by the US regulator, with further industry talks expected in July
Clearing costs creep up for clients
Some futures commission merchants are raising fees for clearing and collateral transformation services, buy-siders say
CME Europe ‘slow start’ expected
Market participants feel significant volume on CME Europe could take a long time, but prospects for Asia are exciting investors
Moex sees record FX volumes in March
Algorithmic traders have helped the Russian exchange boost its forex volumes
Banks looking to back bitcoin with new exchange
Digital currency bitcoin is set to be launched on an NYSE-comparable exchange this year with the backing of the institutional market
CME Europe set to launch FX futures in April
After a significant delay to the launch of its flagship European exchange, CME Europe will launch next month with 30 FX futures contracts
Eurex hopes to steal march on rival CME with FX launch
After delays, Eurex may launch FX futures and options by summer
Icap sees steady NDF volume on Sef
Reported data shows Icap's Sef trading roughly $6 billion daily volume in non-deliverable forwards but other Sefs have fared less well, including Integral, with just one trade
HKEx soft launches clearing for interdealer NDFs
Hong Kong Exchanges and Clearing becomes the latest entity to launch clearing services for FX non-deliverable forwards
Dialogue needed on Sef confirmations - GFXD
Following a further CFTC extension for Sef confirmation requirements until November 29, the global FX division stresses the need for dialogue and co-operation with regulators over the next month if the deadline is to be met
ForexClear launches client clearing for NDFs
LCH.Clearnet has launched buy-side clearing of NDFs on its ForexClear platform, a year after it gained approval from the UK Financial Services Authority
SGX closes in on FX futures launch
Singapore Exchange plans to launch FX futures in six currency pairs on November 11 as it looks to gain an edge on rival exchanges that have been delayed in launching the product
Footnote 88 prompts BlackRock to abandon NDF platforms
Asset manager returns to phone trading for non-deliverable forwards after controversial footnote in Sef rules makes trading on Sefs an unattractive option for users
Clearing of physical FX in China and India a concern, says GFXD’s Ngai
Global FX division managing director David Ngai warns of the challenges associated with centrally clearing physically delivered FX products
Eurex delays launch of FX derivatives
Eurex has joined CME Europe in delaying the launch of FX derivatives, with no new dates set for launch by either exchange
Confusion reigns at dawn of Sef era, say participants
There is still uncertainty over the exact scope of no-action relief issued by the CFTC, and traders warn the same challenges will remain when the relief expires on October 30