News
A peek inside GFXC’s algo cover sheets
Order priority and segregation policy among the items under discussion
Citi extends lead in FX forwards, BNP Paribas climbs
Counterparty Radar: Total value of forwards positions jumps 11% after second-quarter dip
Bank of Israel announces major increase in FX interventions
Central bank announces FX spend in advance for first time and pledges 40% increase
Capitolis signs data deal with CLS
FX optimisation service to use settlement utility’s data to help boost efficiency
PBoC eases cross-border yuan settlement policy
Central bank promotes use of yuan in cross-border settlement and financing
Dealers drag their feet on NDF clearing, say prime brokers
Trade mismatches and other wrinkles hinder clearing between executing broker and prime broker
Thai central bank relaxes FX rules to curb currency’s strength
Central bank says it is considering further liberalisations to currency regime
Isda plans separate workstream for currency disruption provisions
Industry body to exclude update from 2020 definitions
EU benchmark drama set for cliffhanger end
Access to key FX rates due to be decided six months before potential cut-off
US regulator casts doubt on key SA-CCR netting benefit
OCC rejects suggestion banks can net certain cleared client exposures; Fed stays silent
US brands Switzerland a ‘currency manipulator’
Treasury also accuses Vietnam of manipulating exchange rate to gain “unfair competitive advantage”
Vanguard signs FX Global Code
World’s second largest asset manager adopts code after seeing evidence of positive impact on the market
Algo users seek apples-to-apples info
BIS study raised concerns; standards now a work in progress at GFXC
GFXC eyes standardised disclosure cover sheets
New docs planned to allow easier comparisons of algos and LP dealing terms
FX Markets Best Banks Awards 2020: The winners
Citi takes 12 categories, including best bank for FX; HSBC follows with six wins
Cross-currency swaps will use RFRs on both legs, says JPM exec
Despite slow start, all-RFR swaps will become the market standard within a year, according to Tom Prickett
Machine learning will create new sales-bots – UBS’s Nuti
Technologists working to automate indications of interest from trading desks
Project Helvetia proves central banks can use tokenised assets – BIS
Benoît Cœuré says project marks “the beginning of the further evolution of central banking”
BoE needs ‘better handle’ on control of UK currency
Lawmakers highlight the UK’s disjointed cash management, which could put consumers at risk, they say
EC looks to GFXC on potential regulation of spot FX
GFXC to meet this week about revising global FX code, which may influence European legislator stance
SA-CCR switch clouded by confusion over netting sets
An effort by US regulators to incentivise the switch to SA-CCR may be having the opposite effect
MAS unveils renminbi funding for banks in Singapore
New funding scheme of up to 25 billion yuan replaces overnight funding facility
Banks explore ESG-linked deal contingents
Trend for tying derivatives to ethical criteria could soon extend to deal contingent hedges
Regulators voice concerns over cloud risk
Risk USA: failure of big cloud service provider could cause “a very large shock”, says NY Fed exec