News
BNP’s FX sales head takes on new rates role
Neehal Shah will take on additional role as head of G10 rates sales following mini shake-up
UK offers six-month margin reprieve for China netting sweep
Transition period falls short of Isda’s 18-month request, Hong Kong mulls similar relief
HSBC-Finastra aim to centralise white labelling
Proponents say connecting via central hub can streamline the often-bespoke process
India onshore/offshore NDF markets tipped to converge
Local banks will increasingly take advantage of price differentials and close gaps, say market participants
Almost half of top LPs yet to publish GFXC disclosures
FX market disclosure remains patchy, fuelling buy-side concerns over transparency
Asian central banks deploy FX reserves to prop up currencies
Analysts remain confident in Asia’s financial stability, but recession risks are building
Banks prepare to unleash FX swap bots
BNP Paribas, JP Morgan build execution algos to plug into platforms – but swaps liquidity needs to catch up first
JP Morgan fined for not reporting half of FX swap trades
US bank incorrectly believed one-day swaps did not have to be reported
Dealers advancing electronic FX swaps trading on CME
Deutsche Bank is among a handful of dealers using CME’s FX Link platform to help automate market-making
XTX lawyers urge court to deny Currenex’s dismissal motion
Plaintiffs accuse platform of trying to split case across jurisdictions, which could lead to inconsistent decisions
FX HedgePool to push into spot market by year end
Buy-side P2P swaps matching engine to launch new service for WM/R benchmark
e-FX Awards 2022: The winners
BNP, Deutsche and UBS win two categories each; Citadel retains spot crown; B2C2 is top crypto LP
GFXC launches tool to spur buy-side adoption of FX code
Standard-setter aims to overcome “lukewarm” buy-side response with web-based prototype tool
Systematic hedge funds eye outsourcing to bank algos
Cost pressures push new stream of clients to pass FX algo trading to banks
European banks can’t escape SA-CCR hit, warns FX exec
Although not yet directly affected, EU dealers may feel regulation’s impact, says Goldman’s Wilkins
One by one, dealers embrace standardised FX reject codes
Investment Association’s proposed codes finally begin to take hold after Covid setbacks
MSIM cuts third of FX options volume amid market contraction
Counterparty Radar: Manager pares $13bn of USD/RMB trades, deals blow to BNP’s market share
LSEG Singapore NDF platform to gain from EBS London shift
New matching engine could clean up in Asia as rival facility exits Tokyo
Lazard and Pimco profit from shorting Hong Kong dollar
Repeat interventions from HKMA fail to revive a currency under pressure from rising US rates
State Street flies high in FX forwards as Goldman, Citi dive
Counterparty Radar: Goldman loses half of market share, drops out of dealer top 10
Bank of Israel increases FX interventions to tame shekel
Central bank’s foreign reserves reach new record level
Barclays scraps additional hold time on last look
With more disclosures expected this month, list of LPs ditching controversial add-on continues to grow
Crypto derivatives should be banks’ ‘gateway drug’ to spot
Improved spot market liquidity means cash-settled derivatives shouldn’t be the end goal, says co-founder
Refinitiv uses rebates and speed to drive Matching liquidity
LSEG arm takes carrot-and-stick approach to market-making on primary venue