Banks
Review of 2025: A topsy-turvy ride
Rollercoaster year for FX traders ends with G10 volatility and hedging flows back where they started
Caution needed for vendor-generated FX dealer suggestions
FX Markets Europe: TCA services to help buy side automate counterparty selection may offer incomplete execution analysis
Row breaks out over cause of FX settlement fails
One European bank blames T+1 for a 50% jump in FX fails, but industry groups dispute the claims
Natixis bolsters Apac market-making presence with new hires
Additions include head of Apac linear G10 rates and FX trading, and China markets head
Do humans still have a role in institutional FX?
As machines take over interactions between the buy and sell side, what’s left for human traders, asks Record’s Vurgest
Elizabeth McCaul on supervision, new macro-dynamics and investing in suptech
Former ECB Supervisory Board member speaks about Covid-19 and Credit Suisse shocks, regulation debates, the rise of non-banks and what makes tech projects succeed
Standard Chartered launches spot crypto market-making
Bitcoin and ethereum to trade off the bank’s FX desk, but questions remain on capital treatment
Banks seek to advance predictive pricing models
AI and machine learning-based tools could give FX desks the power to forecast currency movements
FX house of the year Japan: MUFG
MUFG’s domestic success and growing onshore presence have strengthened the firm’s ambition to become an Asia powerhouse in FX
Goldman Sachs doubled FX trading revenues in 2024
Bumper Q4 powers bank to head of US dealer pack by foreign exchange revenue
EU firms fear dollar liquidity becoming tariff bargaining chip
Eurozone banks rely on dollars for 17% of funding; trade war escalation could affect access
FX liquidity ‘worse than Covid’ amid tariff volatility, dealers say
Available liquidity for single clips dropped to as low as $20 million ahead of tariff pause
New FX swap matching platform aims to bridge voice and e-trading
FXswapX seeks to electronify “the last bastion of voice trading” in the interdealer market
Tariffs volatility prompts rush to re-hedge EUR/USD options books
Banks left scrambling to buy vol as spot surged beyond expectations
Adoption of standard FX reject code too slow – Schroders trader
Standardised codes aim to improve consistency and transparency around why trades are rejected
For AI’s magic hammer, every problem becomes a nail
Risk.net survey finds banks embracing a twin-track approach to AI in the front office: productivity tools today; transformation tomorrow
Development banks team up for FX hedging push
Banks such as EBRD and World Bank club together to improve emerging market funding tools
LCH expects to boost deliverable FX clearing with new adds
Onboarding of dealers and link-up with CLS could swell interbank deliverable FX clearing volumes
Bloomberg offers auto-RFQ chat feed – but banks want a bigger prize
Traders hope for unfettered access to IB chat so they can build their own AI-enhanced trading tools
South Korea’s FX reforms working amid political crisis, dealers say
Martial law presented first test for reforms aimed at boosting deliverable KRW market
BNY hires Deutsche Bank’s Wu to revamp e-trading
New York-based bank is combining e-FX spot, e-FX forwards trading and strats group