News
MSIM holds half of FX options notionals among US funds
Counterparty Radar: Manager tops up on USD/RMB calls to extend lead and helps Goldman into second place among dealers
Citi names Stuart Staley FX co-head
US bank’s Asia-Pacific markets head moves to London to work alongside Itay Tuchman
EBS delays migration to CME Globex following member requests
FX dealers experiencing IT freezes or reallocation of resources have asked for more time to prepare
Pimco, Franklin Templeton affiliates top for Russia derivatives exposure
Counterparty Radar: Funds had biggest long exposures to Russia across credit, rates, FX at end of Q4
JP, Goldman and TD surge in FX forwards as Citi falls back
Counterparty Radar: Citi drops to fifth, losing a third of market share with US mutual funds
‘Broken’ euro FX options market facing liquidity concerns
Traders worry about market depth as surge in put buying sees risk reversals hit extremes
‘Dead’ derivatives market leaves big Russia dealers unhedged
VTB and Sberbank face directional exposure to local corporates after mass unwinds by foreign banks
Ruble NDF pricing rupture alarms traders
Conflict sparks big dislocation between ruble NDF and spot, threatening hedges and clouding valuations
Russia sanctions throw derivatives market into disarray
Lawyers say western banks face illegality terminations; industry groups plan deliverable ruble workaround
CLS wants more members to help it boost third-party access
New members are fuelling PvP settlement growth, but utility says it will need more to maintain this
Banks, prime brokers and trading venues shun ruble trades
FXPBs turn away derivatives bets as spot platforms block ruble trades and NDF fixings go dark
Traders turn to ruble NDFs to avoid sanctions trouble
Basis between physical and non-deliverable trades hits record high as users shun local currency
XTX joins Currenex class-action lawsuit
Non-bank LP claims rival HC Tech could see every order submitted to the platform
Product innovations push deal contingents beyond M&A
Banks entice new users with hedges related to IPOs and bankruptcy procedures
Fed paper explores stablecoins’ impact on financial system
Researchers say stablecoins could be a ‘digital safe haven’ during volatility, but design choices matter
Barx FX to donate net commission to cancer research
Algo trading platform plans four-day fundraising drive in March for Leukemia & Lymphoma Society
Indian banks struggling to make gains from close-out netting law
Lawyers say undocumented derivatives trades hinder the audit trail needed to secure capital benefits
NatWest Markets scraps last look hold time for e-FX
UK bank joins Citi, Goldman Sachs, Morgan Stanley and UBS in ditching controversial practice
Bank of Mexico overhauls peso closing rate in fillip for derivatives
Dealers welcome changes which, they say, will iron out kinks in valuing swaps, forwards and other currency products
Citi rolls out revamped FX algo execution platform
US bank’s new-look platform aims to provide algos for Asia and Latam NDFs
Wells Fargo adds Asia FX trading and sales heads
Weeli Goh joins from TD to head Asia FX trading; Yash Biswas moves from NatWest to run sales
Cboe to cut FX trading response times in half
Incoming policy will give liquidity providers 35 milliseconds to review last look orders
Fears over strong dollar put Asia’s hedgers on edge
Local corporates look to manage US dollar exposures in response to inflation and Fed tapering concerns
Bitcoin futures ETF loses 9% a year to fees and contango
Cost of rolling futures contracts from one month to another exacerbates ProShares ETF’s losses