News
FSB outlines 10-point plan for stablecoin risks
Some powers already exist but stablecoins may cut across regulatory boundaries, report says
Applying Mifid to spot FX could backfire, warns MEP
EC would need to make "very compelling case" to draw spot market into wider regime, says Ferber
Covid-19 could spur central bank digital currencies – BIS
Fear could promote use of CBDCs but data is yet to point to whether cash demand has changed
Singapore engine push yet to win over all LPs
JP became latest to improve local pricing capability on April 1, but other LPs are sceptical
Is there a dollar funding squeeze in China?
China could benefit from joining the Fed’s dollar swaps network but political obstacles bar the way
Philippines traders shrug off mid-month jitters from Covid shutdown
March’s pricing blip was a tremble, not a quake, in a market used to disruption from natural disasters
Fed extends dollar funding to more central banks
New repo facility aims to ease strains caused by global flight to the safety of dollars
Debelle: regulation could be ‘helpful’ to FX code
As EU weighs regulation of spot market, GFXC chair dismisses key industry argument
FX swap users hope to avoid month-end crunch
Blowout in spreads prompted SSGA and other managers to limit need for hedges on March 31
CLS data scientists try to decode FX volatility
New team has flood of info to work on, after Covid-19 trading surge pushes March volumes up 27%
ESG-linked hedges raise interest – and questions
Carrot-and-stick trades pay off if green targets are hit, but setting and monitoring those goals is tricky
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
In choppy FX markets, algos buck expectations
Goldman, Nomura and others report increased volumes, although some clients revert to principal quotes
More NDF changes could follow Argentine chaos
LatAm contracts may be tweaked to avoid repeat of contentious peso freeze
Spot FX could be dragged into Mifid II
EC tells FX Markets it is studying Australian-style approach to regulating currency trading
India preps margin regime as parliament debates netting law
Lawmakers thrash out bill on close-out netting; margin rules likely to follow in H1
For FX dealers, virus brings volumes
Mixed feelings for sell-side traders as Covid-19 spurs wave of speculation and hedging
India exchange to debut rupee derivatives settled in US dollar
Launch of onshore futures and options unlikely to dent offshore volumes, though
Dealers turn to mid-cap and EM deal-contingent trades
Premiums of more than 25% are attractive to banks battling low vol and increasing competition
GFXC eyes trading platform tagging practices
Group may look to standardise language around unique identifiers
FX options see record volumes as yen goes off-script
Coronavirus outbreak and recession fears trigger frenzied trading in USD/JPY options
Ion’s Broadway deal leaves banks in a bind
Barclays and Nomura among banks that had moved from Ion to rival it now controls
First SOFR versus CORRA cross-currency swap hits market
JP Morgan and National Bank of Canada extend SOFR cross-currency trading into Canadian market
Two more banks consider Singapore engines
Fight to be dominant regional FX hub continues