News
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
FX HedgePool targets Europe as volumes grow
Platform eyes expansion, as swaps volumes hit $1.5 trillion since inception
‘Do no harm’: central bankers warn against rush to issue CBDC
Agustín Carstens, Jerome Powell and Jens Weidmann highlight risks of acting too fast
CFTC’s Behnam wants federal oversight of crypto markets
Proposal would make US first western country to regulate crypto exchanges and traders
Vanguard extends forwards dominance as Citi dips
Counterparty Radar: Fund giant responsible for more than a third of total forwards volumes and half of EUR/USD in Q4
Deutsche Börse eyes quantum computing
Pilot application to model enterprise risks cuts computation time from 10 years to 30 minutes
EU’s initial margin relief may come too late for phase five
Long-awaited easing of model governance requirements unlikely to take effect by September
GFXC sees no changes to code on pre-hedging
Committee rejects calls to set more strict boundaries to controversial practice
The world’s largest bitcoin fund has a tracking error problem
Grayscale Bitcoin Trust moved from trading at an average premium of 36.5% to an 11.6% discount
ECB pushes for greater crypto asset powers
Central bank suggests changes to afford it greater oversight of e-money issuers
Brazil ramps up FX interventions to defend real
Governor Campos Neto says fall “is not justified by fundamentals”
State Street to look after bitcoin, just don’t call it custody
The second-biggest custodian will provide “record-keeping services” for the unregulated asset
Foreign corporates rally round new Thai baht hedge rules
Cheaper onshore pricing draws non-Thai corporates to Bank of Thailand’s new FX hedging scheme
CFTC urged to take lead on CCP margin models
Advisory committee unable to agree steps on margin period of risk, model transparency
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
Has Covid stopped the clocks on FX timestamp efforts?
Budget reallocation may not be the only factor stalling standardisation progress, say participants
First P2P trade completed on Siege FX
Dark pool aims to match algo orders among its 30 buy-side clients
Growing internalisation could threaten price discovery, say LPs
Dealers might have to deliberately hedge on venues to bolster data, says Credit Suisse’s Estrada
Japanese lifers boost FX hedging as new capital rules loom
Banks expect insurers to pile on long-dated JGBs and USD/JPY cross-currency swaps
Industry bodies mull reform of disruption fallbacks
Following Argentine peso debacle, GFXC and others seek alternatives to fallback protocol
Digital Vega, Spark deal hints at wider shake-up for platforms
Two trading tech firms seek point of difference as dealers cull vendor relationships in cost-cutting drive
Banks nervy over GFXC plan for algo cover sheets
Disclosing inner workings of algorithms could result in loss of intellectual property, banks warn
China tightens regulations on non-bank payment firms
Central bank will scrutinise payments more closely and fine firms for rejecting cash
Optiver becomes first non-bank options market-maker on FXall
Dutch e-trading firm joins OTC FX options platform in a market taking electronic baby steps