Citi
Citi clearing head departs for crypto firm
Senior departure is latest among swaps giant’s clearing ranks
PoP goes FXPB: prime of prime fizzes, but isn’t to all tastes
Sources report ebullient growth among PoPs, despite lingering wariness around risk redistribution
Renminbi splurge lifts BNPP, MSIM in Q1 options data
Counterparty Radar: Morgan Stanley IM is largest options user, following series of huge renminbi calls
Deep XVAs and the promise of super-fast pricing
Intelligent robots can value complex derivatives such as exotic options in minutes rather than hours
Jumbo trades propel BNPP, TD up forwards rankings
Counterparty Radar: In Q1 2021 data, outsiders are eating into US banks’ business with domestic funds
China netting law drives interest in CSAs
Steady growth in contracts with CSAs suggests confidence that clean netting is near
Flexi forwards see rise in corporate interest post-Covid
Treasurers seek flexibility in cashflow hedging as pandemic-related supply chain disruptions bite
Franklin Templeton and Citi top for FX options
Counterparty Radar: Data shows US bank as top dealer for mutual funds in Q3 and Q4, while Californian manager is biggest user
FX industry shows little appetite for single API
Market players sceptical over need for standard programming code to connect clients with services
Vanguard extends forwards dominance as Citi dips
Counterparty Radar: Fund giant responsible for more than a third of total forwards volumes and half of EUR/USD in Q4
CFTC urged to take lead on CCP margin models
Advisory committee unable to agree steps on margin period of risk, model transparency
New hedging tools for corps will test sales teams
Advances in automation could spell big changes in skills required of bank salespeople
Banks boot up next-gen hedging bots
Automated FX hedging can save money and time, proponents argue. But corporates have qualms
Citi extends lead in FX forwards, BNP Paribas climbs
Counterparty Radar: Total value of forwards positions jumps 11% after second-quarter dip
e-FX Awards 2020: Best liquidity provider for corporates; Best liquidity provider for options; and Best single dealer platform – Citi
While 2020 presented the FX industry with unprecedented challenges, technology came to the fore in a remarkable manner to smooth the transition towards a remote working environment
FX Markets Best Banks Awards 2020: The winners
Citi takes 12 categories, including best bank for FX; HSBC follows with six wins
FX Markets Asia Awards 2020: The winners
Citi lands four wins in this year’s awards
PBs seek remedy for credit addiction in FX
Group set up after big Citi loss considers limit-checking hub, among other options
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
Citi promotes Perkins and Wilson to top clearing post
US bank creates clearing co-head role in wake of Kemp’s retirement
Filings reveal biggest FX forwards dealers
Counterparty Radar: Group of four banks executed 47% of sector’s trades during second quarter
Dealers divided over paring FX spot venue connections
Some liquidity providers aim to follow Citi’s lead and cut platforms, but others are wary
e-FX Awards 2020: The winners
Citi takes three categories in 18th annual awards; XTX picked as best LP for spot, while Goldman wins algo crown
Citi to focus on just five FX spot platforms
More venues face axe as US bank says it wants to route 90% of e-volume through small group of vendors