News
Bloomberg offers auto-RFQ chat feed – but banks want a bigger prize
Traders hope for unfettered access to IB chat so they can build their own AI-enhanced trading tools
Iosco mimics industry codes to tackle pre-hedging dilemma
Advocates breathe sigh of relief, but Iosco release carries suggested restrictions
Franklin Templeton dethrones MSIM as top FX options user
Counterparty Radar: MSIM continued to cut RMB positions in Q3, while Franklin Templeton increased G10 trades
FX automation key to post-T+1 success, say custodians
Custody banks saw uptick in demand for automated FX execution to tackle T+1 challenges
Doubts raised over new FX platform disclosures
New disclosure sheet template will require platforms to outline how they charge for data
Pimco and Vanguard slash FX forwards trading with BNP Paribas
Counterparty Radar: French bank sees its notional with mutual funds halve
Profit and pain as macro turmoil engulfs Brazil
FX options trades pay off, while sharp jump in rates caught traders by surprise
Cross-currency futures could ease bilateral burden – CME
Quarterly €STR-vs-SOFR contract could be used by Stir desks to manage currency basis risk
Consortium-backed FMX eyes push for FX unit
Formerly Fenics FX, the venue has seen growth from dealers and non-banks using its pegged order types and dark pool liquidity
Digital euro can fill market gap, panellists say
Representatives from central banks and industry discuss use cases for retail and wholesale CBDCs
Bilateral streaming relationships set to grow, say LPs
FX Markets Europe: More clients are embracing APIs to access bank liquidity directly
Buy-siders call for FX options workflow overhaul
FX Markets Europe: Traders say electronification of FX options is still lagging
LSEG shelves replatforming project for FX Matching venues
After EBS migration, dealers had little appetite for another major technology project
Dealers weighing response to FXGO’s fee plans
Spread compression means costs will likely have to be passed on to clients, say banks
FX options market eyes Trump inauguration trades
FX Markets Europe: Traders turn to short-dated plays on cabinet picks and early tariff actions
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
SocGen makes Americas FX push with string of new hires
French bank eyes US and Latin American real money clients
BNPP ups efforts to weed out skew sniffers
French bank deploys skew sensitivity algo to help identify predatory behaviour
BlackRock exec pushes for FX swaps Clob
FX head Chaudhry says all-to-all venue could boost TCA, price discovery and spur algo trading
FXGO eyes platform upgrades with new fee model
Bloomberg’s brokerage charges will fund upcoming automation and TCA projects
India delays initial margin go-live date
RBI communicated putting off initial margin rules one day before planned November 8 implementation