News
FX markets start to test sentiment data
Already widely used in equities trading, data derived from news and social media is now being applied to foreign exchange
Bilateral streams slash FX trading costs by 80%, dealers claim
Risk Live: FX dealers report 70% of spot traded in bilateral feeds, at least four times cheaper than RFQs and venues
FX Markets Asia Awards 2020: The winners
Citi lands four wins in this year’s awards
Ion-Broadway merger approved with strings attached
Broadway chief executive Tyler Moeller leads consortium to buy divested fixed income business
China derivatives appetite set to grow as PBoC lifts deposit rule
Central bank rule change could cut hedging costs by up to 100bp, traders say
Big moves, but no panic after tumultuous US election
Treasury market saw its largest post-election move since at least 2000 – but liquidity held up
FX vol markets shrug off US election fears
Vols are trading below their pre-election levels despite uncertainty over result
HKEX to clear SOFR cross-currency swaps from early 2021
Legacy Libor cross-currency swaps could move to SOFR discounting at the same time
Algos make market thinner, but not less liquid – BIS
Trading robots change market microstructure, central banks conclude; new liquidity metrics may be needed
FX volatilities fall on receding US election fears
Polls point to a decisive Biden win – though some worry market is being complacent
FX headwinds cancel out HSBC’s Q3 RWAs cut
Portfolio reductions reaped $10.8 billion of RWA savings
PBs seek remedy for credit addiction in FX
Group set up after big Citi loss considers limit-checking hub, among other options
Mifid best execution relief for buy side hangs by a thread
Largest grouping in European Parliament faces uphill battle to suspend RTS 28 reporting
On dealer and currency choices, big US funds differ
Pimco, Vanguard and other fund giants account for up to 60% of forwards trades – but have very different hedging needs and dealer panels
Kaufmann joins NatWest as FX structuring head
UK bank hires former UBS and Barclays structuring chief
Citi promotes Perkins and Wilson to top clearing post
US bank creates clearing co-head role in wake of Kemp’s retirement
UK’s FCA bans crypto derivatives for retail investors
FCA says retail crypto assets have no reliable valuation basis and could increase financial crime
Ex-Isda risk chief: ditch gross notional thresholds for clearing
10 years on, David Murphy says mandate should be rebased to exempt less risky firms
Argentina allows peso to fall faster
Central bank increases repo rate as currency falls and inflation rises, despite severe GDP contraction
ECB steps up research on ‘digital euro’
Central bank analysing both centralised and decentralised options for a digital currency
Filings reveal biggest FX forwards dealers
Counterparty Radar: Group of four banks executed 47% of sector’s trades during second quarter
Taiwanese central bank asks for smaller dollar trades
Large dollar orders may slow down foreign exchange transactions, central bank says
FX swap volumes set to rise on China govvies index inclusion
Traders expect greater use of FX derivatives if FTSE Russell adds bonds to the WGBI this week as expected
Euronext launches NDF trading in Singapore
Platform’s move brings spot-style execution methods to the non-deliverable market