Asia
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
Citi poaches FX options trading duo from Barclays
US bank adds to its London and Singapore FXO trading desks
Popular CNY carry trade starts to lose traction
Investors seek unwinds of China govvies swapped into USD after FX and rates movements dent its appeal
India’s index inclusion could herald future flow shifts
Limited boost to FX flows after Indian govvies debut on JPM index may change as others follow suit
Ruled out: can regulators settle the pre-hedging debate?
Market participants are at odds over the practice and whether regulation or principles can settle the score
China set to extend NDF trading scheme for onshore banks
CFETS expected to introduce RFQ functionality and more currencies for non-deliverable forwards
More disclosure touted to temper pre-hedging ills
Transparency could help investors choose a dealer, but will they use the disclosures?
South Korea and Indonesia set up currency transactions framework
Move is latest regional effort to bolster use of local currencies for settling trades
Triggers of August market ‘flare-up’ still in place, BIS warns
Leveraged positions remain at risk of sudden unwinding, as margin calls play amplifying role
Dealers bruised by surprise renminbi vol surge
Rush to re-hedge USD/CNH exotics left banks in grip of painful short gamma squeeze
New fee plans for FXGO rile dealers
Bloomberg plans to charge spot FX market-makers from next year
Traders flipped long yen vol ahead of global market rout
Hedge funds and real money bought long yen volatility in the run-up to Monday’s turmoil
Coex Partners hires former Citi head of FX Apac sales
Matt Long joins Coex in Singapore to oversee FX execution and trading strategy for regional clients
CME Group bags top awards for FX derivatives and spot
Amid bouts of Apac volatility, market participants tap into CME Group’s deep pools of FX liquidity, seeking certainty in times of economic stress
Korea FX reforms expected to drive e-trading surge
Dealers say opening onshore FX market to foreign firms will push trading onto platforms
Isda pushes to ‘decouple’ Simm calibration from model changes
Emir 3.0 prompts effort to separate risk-weight revisions from methodology updates
Emerging market liquidity faces capital charge crossroads
Hedge funds and market-makers need a more capital-efficient way to trade EM currencies, argues SGX exec
Nomura names new global head of FX structuring
Rana Dasgupta will have dual responsibility for global FX structuring and Asia-ex Japan structuring
Vanguard begins clearing NDFs on LCH
Addition of mutual fund giant gives big boost to client-cleared activity on ForexClear
RMB vol returns as hedge funds take barrier trade profits
Unwinds of exotic positions saw vol jump 72% after surprise PBoC move last week
Asia FX Awards 2024: The winners
The FX Markets Asia FX Awards present 43 categories, determined by an esteemed judging panel comprising industry experts and FX professionals across Apac. They have paid attention to firms that brought unique and innovative ways to fulfil industry needs…