FX Markets - Mar 2024
See below for a full listing of the articles in the March 2024 collection of FX Markets
Articles in this issue
Banks face tough choices over single-dealer platforms
Costly upgrades and shifting execution methods by corporates could challenge SDPs
FX options traders rethink vol drivers amid macro uncertainty
Market-makers believe more and more events will influence options pricing as political risk bubbles up during 2024
European funds face upsurge in settlement risk after T+1
Trade body Efama finds up to 40% of daily FX flows may have to settle outside protection of CLS
Quarter-ends add $184bn to FX swap costs, study finds
Academics observe 36% increase in bid/ask spreads in short-tenor liquid currency pairs at quarter-end
FX algo firms see rise in matched principal trading
FX Markets Asia: Users more willing to trade passively in low-vol environment
Basel Committee prepares crackdown on bank ‘window dressing’
Study says lenders have obscured their true systemic importance at reporting dates
Brazil readies long-dated FX hedging scheme for green projects
Development bank IDB will lend its credit rating to unlock cheaper USD/BRL hedges out to 25 years
SocGen hires Estrada as global head of FX
John Estrada previously held the same role at Credit Suisse prior to his departure last year
JP Morgan leads US banks’ FX trading revenues
Only two dealers recorded growth last year as Goldman Sachs reports 75% drop
US dealers slam capital hit on clearing for unreal CVA risk
Fed would diverge from Basel standards by imposing CVA capital on client-cleared trades
Pimco’s cuts to FX forwards positions hit dealers in Q4
Counterparty Radar: State Street takes top spot among dealers as BNP Paribas slides to fourth
Invesco more than triples size of its FX options book
Counterparty Radar: Manager’s portfolio exceeded $5 billion notional in Q4
Inside BGC’s quiet move into agency broking
The interdealer broker’s Caventor Capital arm is pitching a hands-on service for hedge funds, filling what it sees as a gap left by large banks
Emir 3.0 threatens lag for Simm revisions
New EU rules could stall changes aimed at improving risk sensitivity of industry margin models
