Opinion
FX clearing - the opportunity that never was?
Clearing of non-deliverable forwards has yet to get off the ground, despite clearers having switched their focus to the product during the course of last year
AUDIO: Heading into the perfect storm
Nick Beecroft, senior markets consultant at Saxo Bank in London, takes a critical look at the year ahead and says markets could be heading for the perfect storm.
The secret weapons of e-commerce
Banks don't have long left to finalise and implement changes to their single-dealer FX platforms
Strategic currency hedging in emerging markets
When hedging currency markets, one should treat developed and emerging markets separately, as their behaviour can vary significantly, argues Edward Murray
Serving clients in the right way sets best banks apart
Winners of this year's Best Banks Awards have won recognition from their clients for providing innovation that meets their challenges in volatile market conditions
Why the consensus is wrong on USD/JPY
RBC Capital Markets has taken a contrarian view on the yen for several years, predicting it would strengthen against the US dollar while the consensus forecast was for yen strength. After the bank’s contrarian view has proved accurate, Adam Cole argues…
Exploring relative value
A rebound in risk assets in late October appears to have been short-lived and the foreign exchange market continues to be affected by lower-then-expected growth and a swinging pendulum between risk-on and risk-off. Callum Henderson argues relative value…
AUDIO: The Enronisation of Europe
Nick Beecroft, senior markets consultant at Saxo Bank, discusses the weaknesses in the EU bailout package, and the broader implications of a Greek referendum on the Eurozone
Analysis paralysis
Ever-increasing foreign exchange volumes, acute volatility in currencies and the imminent arrival of new trading regulations have combined to create an environment in which being able to properly analyse execution costs and quality is more important than…
A tax too far?
The European Commission's recent proposal to impose a financial transaction tax from 2014 appears to ignore lessons learned in drafting other recent regulations
Fighting a losing battle on yen strength
Despite repeated intervention by the Bank of Japan over the past year, the yen remains stronger than ever, with USD/JPY struggling to break above 77. Derek Halpenny analyses the three episodes of intervention and related data to explain why intervention…
AUDIO: Welcome to Crisis 2.0
With all proxies for risk appetite at or below summer 2010, a third round of quantitative easing is inevitable, says Saxo Bank
Dispelling the myths of HFT
Central bankers can no longer ignore the impact of high-frequency trading on the FX market
No more lifelines for Greece
Following a chaotic series of last-ditch efforts by political leaders to put together a solution to the troubles in the eurozone, Nick Beecroft believes the only viable option left is to transfer cash from the core of Europe to the periphery, through the…
The rise and rise of retail FX
Questions were raised in July when the Bank of England’s FX joint standing committee revealed a jaw-dropping 23% increase in UK turnover between October 2010 and April 2011. Among a number of drivers contributing to the increase, the most notable is the…
AUDIO: Get ready for crisis 2.0
Nick Beecroft, senior markets consultant at Saxo Bank in London, warns that financial markets are at the brink of crisis 2.0.
Trading like it’s 2008
Foreign exchange markets in 2011 continue to show parallels to 2008, but the economy is unlikely to slip back into recession and Asian currencies look set to benefit from broad-based US dollar selling. Callum Henderson looks at the key similarities…
Options clearing on the rocks
Could clearing of FX options be stymied by the CPSS-Iosco requirement that financial market infrastructures provide clear and certain final settlement?
AUDIO: The US Debt Crisis and the Dollar
With only days to reach an agreement to increase the US sovereign debt ceiling, Nick Beecroft, senior markets consultant at Saxo Bank looks at the key risks for the US dollar.
More upside in the Aussie dollar
Paul Bednarczyk, head of currency strategy at 4Cast in London, looks at the steady rise of the Australian dollar since 2008 and explains why it might yet appreciate further
AUDIO: QE3, China and trendless markets
Nick Beecroft, senior markets consultant at Saxo Bank in London, says the risks of crisis 2.0 have just gone up.
The DTCC's repository monopoly
June in perspective: trade repositories take centre stage as FX participants prepare for a mandatory requirement to report trades to a central infrastructure
Making the case for Asian currencies
Callum Henderson, global head of FX research at Standard Chartered in Singapore, believes Asia is better insulated from the economic downturn than in previous cycles and investors should maintain allocations to the region’s currencies
Two sides to every argument
May in perspective: participants hope the US Treasury will hold by its proposed exemption, despite several calls for further independent analysis of the FX market