Asia
PBoC deposit requirement hits FX hedging, again
Reinstated rule hikes forwards costs and dents volumes, but volatility sees corporate demand persist
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
Corporates rush to hedge emerging market currency risks
Falling forward points have reduced cost of hedging further drops in Chinese renminbi
Cost benefits: could LPA provide clearer pricing?
Proponents say analytics tool is a game changer, but critics claim it is rebranded TCA
Quants search for way to size crypto bets
Standard models say as much as 4% of a diversified portfolio could go into digital assets
FX house of the year, Singapore: OCBC Bank
A focus on client needs, scale, scope of product array and providing liquidity in all conditions wins OCBC Bank the FX house of the year, Singapore award
Best FX technology provider: ION MarketFactory
ION’s reliability, consistency and customer focus win it the Best FX technology provider award
BoJ currency intervention spurs FX options traders
Traders turn bearish on USD/JPY FX vol over further central bank intervention
FX house of the year, Japan: UBS
Consistency, reliability, technology and range of products across multiple currencies wins UBS the FX house of the year, Japan award
Market weighs viability of spot FX clearing
Supporters believe it could remove credit risks, but others say it would be unnecessary and add costs
Best FX options house: UBS
Customer focus, innovation, depth and breadth of options offerings secures UBS the Best FX options house award
Best bank FX liquidity provider: UBS
UBS’s focus on technology, innovation and client requirements wins it the Best bank FX liquidity provider award
SGX launches new Clob for FX spot and NDFs
CurrencyNode to tap into new matching engines in Singapore, and eventually will look to offer futures-spot spreads
Best EM trading platform: Deutsche Bank
Deutsche Bank’s high liquidity, cost efficiencies, innovative solutions and breadth of services secure it the Best emerging markets (EM) trading platform award at the FX Markets Asia FX Awards
Margin costs leap on Simm rejig and rates hikes
Acadia finds roughly one-third jump in exposure following Simm recalibration, with higher funding costs adding to burden
Asia FX Awards 2022: The winners
FX Markets has revealed the winners of the Asia FX Awards 2022. The annual event – now in its fifth year – recognises and showcases the best banks, dealers, brokers and currency managers in the Asia-Pacific (Apac) region.
360T is second venue to demand FX code compliance
GFXC urges other platforms to follow suit, potentially making code adoption an entry ticket to FX markets
Volatility could pave way for FXOs’ electronic evolution
Turmoil in markets gives options sector impetus to embrace automation, writes CME’s Chris Povey
Nomura hires Leng for dual global FX trading roles
Hire comes as Nomura looks to significantly bolster its FX and macro trading division globally
Nomura targets smaller Chinese banks after first CFETS trade
Japanese bank is one of seven offshore FX dealers offering G10 pricing on China’s interbank market
Bingeing on block sets: DLT could give FX its ‘Netflix moment’
Blockchain’s proponents say faster settlement times make technology akin to TV’s streaming revolution
Phase six margin cohort may exceed estimates as vol bites
Acadia sees numbers around a third higher than initial count, with fewer set to rely on relief
HSBC-Finastra aim to centralise white labelling
Proponents say connecting via central hub can streamline the often-bespoke process
Asian central banks deploy FX reserves to prop up currencies
Analysts remain confident in Asia’s financial stability, but recession risks are building