News
Dealers look to cut SDP prices amid platform fee battle
JP Morgan offers different pricing for single and multi-dealer venues; Barclays mulls same approach
Lack of incentives slow uptake of deliverable FX clearing
Absence of regulatory drivers and use of prime brokerage curbing demand, say panellists
Asset managers want better access to spot crypto market
Top buy-side exec bemoans constraints in debate on use of futures versus spot for cryptocurrency
Digital Vega aims to slash FX options fees with new Clob
Traders hope platform can loosen grip of voice brokers, despite concerns over market fragmentation
First wave of GFXC cover sheets expected December 17
Greater transparency could lead to tighter last look policies, says Bank of England FX head
China netting: industry raises concerns on cross-border trades
Filing requirement of new netting law could unfairly penalise trades from foreign banks
Bank FX teams eye slice of crypto derivatives action
Business heads increasingly confident that trading will reside in their patch
Bank of Tanzania ‘working on CBDC’, governor says
Luoga says “cryptocurrencies are not safe” and president has urged work on CBDC
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
FCA move brings regulatory risk to use of hold times
Regulator’s adoption of code, and rejection of extra hold times, means those ignoring it risk scrutiny
FXPBs wary of Turkish lira risk, say hedge funds
Primes hesitant to take big positions on embattled currency
FX HedgePool eyes mid-month matching
Peer-to-peer swaps venue plans single monthly settlement date for funds that don’t trade at month-end
Former clearing head urges ‘reasonable regulation’ of crypto
Risk USA: panellists complain current regulatory approach is ‘painful’ and doesn’t embrace innovation
Argentine central bank freezes banks’ FX purchases
BCRA order comes amid a falling peso, IMF talks and mid-term elections
Fee standoff intensifies as FX spreads compress
As spread squeeze continues, brokers refuse to budge on trading fees
Currenex lawyers ask judge to dismiss class action lawsuit
Case alleging secret priority trading deals brought too late and not based on facts, defence argue
Last look add-on is disappearing. Is that good for the market?
Views diverge on whether removal of additional hold times will benefit FX liquidity consumers
Nigeria launches ‘digital naira’ pilot
Central bank issues $1.2 million in retail CBDC after clampdown on private crypto
FX prime brokers jockey for buy-side flows as IM phase 6 looms
Banks say concentrating trades through single dealer would ease paperwork logjam for asset managers
US banks step up FX optimisation push as SA-CCR looms
With swaps and forwards hit hard by new capital measure, dealers turn to vendors and bilateral restructuring
FX hedge ratios fall across top 10 US managers
Counterparty Radar: Proportion of forwards to assets has been sliding since Q3 2020, but some firms buck trend
Nigerian central bank will test prototype CBDC
“eNaira” will be tested in four cities, reaching a combined population of nearly 15 million
State Street launches tri-party custody for IM clients
Third-party provider begins shifting phase five clients to full-service collateral model
Synthetic Libor gets cautious approval as swaps fix
‘Tough legacy’ solution could mop up $2.7trn-equivalent of non-cleared sterling and yen derivatives