Opinion
Don’t sweep bilateral settlement risk under the carpet
Non-CLS-settled FX swaps still pose major risks, says Baton Systems’ Alex Knight
FX-style crypto platforms could bridge gap with TradFi
Emergence of execution-only ECNs, prime brokers and clearing houses brings new confidence in crypto
A ‘unified ledger’ and the future of money
Blueprint set out by the BIS staff raises plenty of questions about the ‘singleness of money’
Shhh, don’t tell: the struggle to keep skew under wraps
Liquidity recycling by clients has made it more difficult for banks to keep skews quiet
How a machine learning model closed a hidden FX arbitrage gap
MUFG Securities quant uses variational inference to control the mid volatility of options
US banks fight back in FX forwards
Price differentials have narrowed as banks learn to live with SA-CCR
China needs an RMB liquidity absorber – HK might be the answer
Increasing HKMA’s CNH debt issuance could help cement renminbi’s role in financial markets
Analyse this: why the buy side is hungry for FX trade data
TCA data from vendors is just the start as buy-side firms enlist quants to analyse execution
What’s the right price limit for an algo?
BestX assesses the different impacts a price limit can have on FX algo performance
What’s next for FXSpotstream?
Departure of founder could herald a shift from the venue’s no-brokerage model
Podcast: Barzykin and Guéant on FX market-making
Industry quant teams up with academics to build better risk tools for FX markets
Wheels on fire: automated algo selection takes off in FX
Embrace of workflow automation and data analytics is driving asset managers’ adoption of FX algo wheels
Living with SA-CCR, one year on
Collateral agreements and FX futures may be some of the ways to tackle increased capital costs
GFXC to entice buy-side code adoption with ESG tie-ups
Rating agency partnerships would link FX code adoption to ESG scores
How risk managers can stop the FTX infection from spreading
Segregation and transparency can save investors from imploding crypto trading venues
Should RMB be treated as a G10 currency?
As it becomes the fifth most-traded currency, dealers weigh pricing and risk managing RMB like a G10 equivalent
Crypto structured products come of age
After some growing pains, the space now offers the type of structures seen in TradFi equities markets
Volatility could pave way for FXOs’ electronic evolution
Turmoil in markets gives options sector impetus to embrace automation, writes CME’s Chris Povey
Should you hedge or should you wait?
New approach introduces quantitative framework for optimal FX hedging
Time to shine: corporate FX’s surprise glow-up
Corporate FX enjoys its time in the sun as currency headwinds spark corporate hedging needs
Is stochastic cross-currency basis a better way to model IM?
Using Monte Carlo model extension for forward IM calculation avoids excessive outputs for MVA
Will last look disclosures come to FX derivatives?
JPM and NatWest have published their swaps and options last look windows – will others follow suit?
FX dealers bolstered by return of volatility
Vol's resurgence this year has created opportunities for dealers – but also some risks
This year’s model: how FX algo usage is evolving
Changes see traders favour opportunistic and pegged styles over TWAP for larger orders, finds BestX’s Aled Basey