Infrastructure
Swaps platform aims to cut out the banks – but not entirely
Peer-to-peer newcomer FX HedgePool targets asset managers’ month-end hedging activity
CLS proposes second-tier FX settlement system
Stripped-back system for EM currencies mooted to tackle rising settlement risk
LCH to launch non-deliverable options clearing
Clearing service will go live in Q4 for nine currency pairs
SA-CCR adoption may spur wider FX swaps clearing
With up to 90% lower exposures on offer, dealers say capital benefits could outweigh margin costs
Volatile FX markets reveal pitfalls of RFQ
Clients urged to mask trading intent; critics warn of subtle sell-side advantages
Buy side eyes outsourced trading amid Covid disruption
Pressure on trading continuity drives in-house desks to look outwards
Vol boosts rules-based trading services
More users – and more platforms – turn to auto-RFQs for smaller tickets
Fee fight: dealers take aim at brokerage costs
Old tensions have new edge as banks urge clients to bypass platforms
E-trading takes hold for FX swaps – sort of
Bulk of trades are being executed over screen, but bolder changes have stalled
Two more banks consider Singapore engines
Fight to be dominant regional FX hub continues
Four more banks join CLSNet
Bilateral payments netting service using distributed ledger tech now has nine firms live
Cboe plans comeback in crypto markets
US exchange plans to offer crypto derivatives after previous attempts at regulatory approval to list crypto ETFs thwarted
Instinet launching FX agency trading business
Execution services arm of Nomura prepares agency-model e-trading platform for spot FX
SVB Financial Group invests in TickTrade Systems
Parent company of Silicon Valley Bank partners Toronto-based fintech to strengthen FX offering as client base goes global
Rising initial margin costs tilts the balance in favour of clearing
As international standard-setters have extended the implementation period of the lowest threshold for the uncleared margin rules (UMR) to 2021, Kahyang Chong, head of ForexClear product, Europe, the Middle East and Africa at LCH, explores the options…
Z.com Global Markets to launch prime-of-prime service
The firm will wind down its retail arm by the year-end
Integral and Jefferies partner to cut buy-side costs with TrueFX
By centralising credit, liquidity and technology, costs could drop by up to 80%
Deutsche Bank’s Autobahn goes mobile
App gains 700-plus subscriptions since September launch; users can trade round-the-clock
Money managers won’t trade digital assets soon, say crypto experts
Few institutional market participants willing to take on reputational risk associated with crypto trading
OpenFin: user experience is new differentiating factor for banks
Market participants want agile applications that interact easily with other software
Kace to offer electronic distribution of FX options in China
Huge potential for China’s FX options market, but regulation and digital transformation are key
StanChart prime services to accept Chinese bonds as collateral
Inclusion will reduce collateral drag for PB clients ahead of stricter initial margin rules
Three go live on Cobalt’s shared FX ledger
Technology provider aims to reduce trade reconciliations for Deutsche, Saxo and XTX
JP Morgan to bring e-FX trading and pricing engine to Singapore
The bank’s scheduled 2020 launch will help consolidate Singapore’s position as Asia’s leading FX trading centre