State Street
FX HedgePool to push into spot market by year end
Buy-side P2P swaps matching engine to launch new service for WM/R benchmark
One by one, dealers embrace standardised FX reject codes
Investment Association’s proposed codes finally begin to take hold after Covid setbacks
State Street flies high in FX forwards as Goldman, Citi dive
Counterparty Radar: Goldman loses half of market share, drops out of dealer top 10
Inside State Street’s bid to dominate FX overlay
Custodian looks beyond its usual client base in the hunt for currency hedging business
Duck! Buy side plan to dodge IM rules could backfire
Three-quarters of phase five firms do not expect to exchange margin for at least six months
Currenex and LPs move to dismiss class-action lawsuit from US
Defence lawyers say XTX is trying to dodge agreements that it would settle any complaint in UK courts
XTX joins Currenex class-action lawsuit
Non-bank LP claims rival HC Tech could see every order submitted to the platform
Vanguard eyes DLT for FX forwards after smart contract success
Fund giant hopes roll-out of tech in 2022 will deliver greater efficiency and pricing benefits
Currenex lawyers ask judge to dismiss class action lawsuit
Case alleging secret priority trading deals brought too late and not based on facts, defence argue
State Street launches tri-party custody for IM clients
Third-party provider begins shifting phase five clients to full-service collateral model
Phase five margin queues spur calls for custody revamp
Custodians urged to update “antiquated technology” ahead of threefold jump in phase six initial margin onboarding
Morgan Stanley bests Citi as top forwards shop for US funds
Counterparty Radar: A $30bn boost from Vanguard sends MS to top of Q2 charts
Currenex class action faces hurdles, say legal experts
Case against Goldman, State Street, HC Tech and the ECN could raise questions around statutes of limitations and damages calculations
Crypto market structure pushing institutions towards synthetics
Credit risk and custody challenges with spot could push investors to derivatives and ETPs
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
A bitcoin ETF could threaten the world’s biggest crypto fund
Regulated funds may suck away demand for Grayscale’s off-exchange investment trusts
State Street to look after bitcoin, just don’t call it custody
The second-biggest custodian will provide “record-keeping services” for the unregulated asset
Citi extends lead in FX forwards, BNP Paribas climbs
Counterparty Radar: Total value of forwards positions jumps 11% after second-quarter dip
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
Filings reveal biggest FX forwards dealers
Counterparty Radar: Group of four banks executed 47% of sector’s trades during second quarter
Choppy markets revive quest for RFQ’s ‘magic number’
Deutsche argues for smaller, stronger panels; Citi offers better prices for 'full amount' trades
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
Price changes expected as uncleared margin rules bite
Panellists urge buy side to install lifecycle management tools to calculate margin and reconcile payments with brokers