Infrastructure
Hong Kong launches HKD-RMB dual trading counters
Offshore investors now have the option to trade 24 RMB-denominated stocks in Hong Kong
It pays to be selective when choosing clients, say FXPBs
Credit Suisse collapse strained relationships and showed importance of a partnership approach
Major central banks set out CBDC policy debates
BIS and central banks discuss major policy issues that still need to be solved
SG1 growth slower than expected, say LPs
Despite sluggish take-up of Singapore FX matching engines, some hope a new NDF venue will offer a boost
Central banks step up dollar liquidity support
But initial auction results show little evidence of pressure on dollar funding
Tales from the crypto prompt calls for FX-style market structures
Demands for interdealers and prime brokers to be brought into crypto market in wake of FTX debacle
High-frequency flap over CME’s Aurora data centre
Exchange group’s migration to Google’s cloud could render HFT networks redundant
Refinitiv’s FXall launches automated forward fixing tool
New service offers asset managers automatic competitive pricing for a benchmark trade’s forward points
Crypto gets to grips with interest rate swaps
New derivatives provide synthetic access to staking yields and are being used in structured products
EBS ventures into crypto market with upcoming NDF
The move could be a big step forward for mainstream adoption of crypto NDF trading
Argentina and Brazil’s currency proposal met with scepticism
Experts say it is unclear whether governments want currency union or trade settlement mechanism
Stick to the fax? Isda seeks to revamp close-out notice methods
Plans to update termination notice provisions still won’t quite pull the plug on use of fax machines
Former StanChart FXPB head emerges at StoneX
Prime services co-head leaves for StoneX EMEA expansion role
FX settlement risk grows again in latest triennial survey
BIS also finds falling market share on primary venues and more internationalisation of emerging currencies
FX primary venues seek reversal of fortunes
EBS and Refinitiv fight to restore market share – but bilateral trading may be too entrenched, dealers say
GFMA mulls FX determinations committee
Creation of CDS-style board is one option on the table for managing forex market disruption events
CME eyes retail growth with new weekly FX options
Exchange hopes to capture massive demand from the sector
Operational hurdles slowing buy-side NDF clearing uptake
FX Markets USA: Artisan Partners’ O’Brien says problems must be tackled to make clearing more attractive
Euronext is latest venue to demand FX code compliance from LPs
From January 1, anonymous spot liquidity pools across the ECN will automatically switch to code compliant only
Market weighs viability of spot FX clearing
Supporters believe it could remove credit risks, but others say it would be unnecessary and add costs
SGX launches new Clob for FX spot and NDFs
CurrencyNode to tap into new matching engines in Singapore, and eventually will look to offer futures-spot spreads
FX timestamping progress ticks on, slowly
New fintechs may help with the problem, but lack of urgency holding back pace of change
XTX Markets set to clear NDFs on ForexClear
Move makes XTX first non-bank liquidity provider to clear NDFs
LCH mulls FX spot clearing as buy-side demand grows
Anticipated ForexClear service could reduce funds’ reliance on prime broker credit lines