News
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
Morgan Stanley FX loss leaves ill-feeling, questions in wake
Options traders saw odd quotes by US bank months before losses were publicised
FX aggregators flirt with scrutiny over brokerage charges
Making dealers pay for trades raises ‘payment for order flow’ questions
Rival FX class claimants urge court to resolve dispute early
Judge says he won’t favour haste over quality and will consider claimants’ funding arrangements as well as the merits of competing cases
ECB and BoJ point to major problem in DLT-based payments
Project Stella report says central source of information could create single point of failure
Pollock becomes COO of Diginex in Singapore
Westpac veteran will build out the crypto firm’s office in the city-state
Asia keener to adopt mobile FX trading – BidFX
Fintech firm updates mobile app to offer more features; security concerns represent major development challenges
FMSB appoints Rich as general counsel
The lawyer has worked with BNP Paribas, Deutsche Bank and RBS
Four more banks join CLSNet
Bilateral payments netting service using distributed ledger tech now has nine firms live
Westpac: Johnson’s rhetoric over EU trade hits sterling
Cable has less upside than before the “go it alone” talk resumed after Brexit