Liquidity Risk
Stable relationships still vital in FX, say asset managers
Accessing liquidity when needed is more important than price, according to buy side
BestX: FX Code may bifurcate liquidity in 2018
This could lead to venues having to manage multiple liquidity streams
Last look times should reflect faster data, say panellists
Risk warehousing timeframes have shrunk; market-makers no longer divided into banks and non-banks
XTX sounds death knell for last look
The NBLP launches new analytical tool, which Jeremy Smart says will make last look obsolete
Growth of NBLPs thwarted by credit structure, platform heads say
Alternative LPs look to do more relationship-based trading rather than streaming prices anonymously
Best FX Liquidity Provider and Most Innovative Liquidity Source: XTX Markets
The London-based market-maker emerges as a serious contender for the biggest share of FX
Brexit will give non-banks a spot-market boost
Adding to dealer banks' decreasing risk appetite could spell trouble
Non-banks charge ahead, but HFTs see warning signs
New risk-warehousing models are outpacing non-bank players that rely on latency advantages
Global Code architects pledge to keep principles updated
The FX code of conduct will evolve to reflect market changes
ADS sees $1.3 trillion credit gap as it launches prime-of-prime
ADS Securities says it is ready to step up to fill the gap left by FX prime brokers with a true PoP service
Non-bank LPs boosted by TCA developments, study finds
Financial consultancy Greenwich Associates sees counterparty diversification as a strong trend
Liquidity woes are curbing FX growth
Difficulties in accessing alternative liquidity pools and the rising cost of trading are creating unexploited opportunities
Regulation will change markets, but slower than expected
But market participants say they are in the early stages of a transformation that could accelerate in the coming years
Edgewater Markets raises $30m for expansion drive
As part of the deal, the firm's board will gain two new participants from FTV Capital
China may introduce Tobin tax on FX transactions
A levy on currency trading could be put in place to fight speculation
CFH Clearing launches matching engine in TY3
The prime-of-prime provider aims to reduce latency and enhance execution by reducing the round trip between London and Tokyo by 200 milliseconds
PBoC eases despite continued depreciation fears
China's central bank cuts reserve requirements amid intricate balancing act between buoying slowing growth, maintaining financial stability, and safeguarding the value of its currency
Asset managers need better handle on costs, processes
Panellists highlight the challenges they face in the pursuit of best execution
Buy side takes control of execution as liquidity worsens
Risk warehousing ability isn't there any more, say large buy-side traders
US dollar/yen basis blow-out to –100bp on negative rates
Bank of Japan's policy adds to the dollar-funding dilemma of domestic banks
CFH Clearing expands choice of white-label platforms
In March, the PoP provider will add Olfa Trade's Seamless FX to its range