Tech and data
How Covid-19 exposed the fragility of FX options liquidity
Simon Nursey at Digital Vega digs into the data to reveal the lessons of the March shock
WM/R fix and the curse of predictability
Investors should renew their focus on execution strategies around the 4pm fix, writes Alexei Jiltsov of Tradefeedr
Avoiding market impact – it takes two
Dealer hedging practices have a big part to play in quiet execution, but so does client behaviour, writes UBS's Ciara Quinlan
Citi to focus on just five FX spot platforms
More venues face axe as US bank says it wants to route 90% of e-volume through small group of vendors
UK watchdog has competition concerns over Ion-Broadway deal
Trading tech giant has five days to address issues, or face months-long investigation
Buy-side firms reject EMS brokerage charges
Some users favour licence fee over per-trade charging – and have forced vendors to switch
Sell at dawn and go away – but come back after lunch
Historic and well-known intraday seasonal patterns can deliver return-to-risk ratios in excess of 1. Tradefeedr’s Alexei Jiltsov explores whether execution desks should employ these factors
Five’s company, six is a crowd
Simon Nursey at Digital Vega explores the optimum number of RFQs for FX options trades with a little game theory
Deutsche Bank to launch e-FX pricing engine in Singapore
German bank’s move will increase number of liquidity providers with local pricing capacity to nine
Navigating uncharted markets with FX algos
BNP Paribas's Asif Razaq describes traversing Covid-troubled waters with execution algorithms
Scrutiny and frictions follow EMS vendors into fixed income
Aggregators are facing resistance from venues and attracting the attention of regulators
Assessing execution quality and slippage in volatile times
Market participants must focus on how their evaluated execution costs vary in different market regimes, writes Tradefeedr’s Alexei Jiltsov
FX options, NDFs trading slows as Covid fears ease
Analysis of transaction data shows lower notional volumes and tighter spreads for most currency pairs
Ion’s wrists slapped in probe of Broadway deal
Competition watchdog extends initial investigation, after Ion failed to comply with call for info
Algo choice: how to implement a market impact/volatility trade-off
Quantifying how macroeconomic announcements affect market reaction is key to deploying the right FX algo, writes Alexei Jiltsov of Tradefeedr
Singapore engine push yet to win over all LPs
JP became latest to improve local pricing capability on April 1, but other LPs are sceptical
CLS data scientists try to decode FX volatility
New team has flood of info to work on, after Covid-19 trading surge pushes March volumes up 27%
FX data shows hold, reject divide in G10 vs the rest
Use of analytics can help reduce last look and improve FX Code adherence, says EBS executive
Coronavirus jolts FX options market
Analysis of transaction data shows record notional volumes for some G10 pairs
Swaps data: cleared volumes drop for all markets – except FX
Smaller CCPs make market share gains in a quarter of double-digit declines for rates and credit
Beyond Barx: where Barclays is going next in tech ‘arms race’
Interview: Mauricio Sada-Paz on SDPs, MDPs and innovation in e-FX
For FX vol, think globally, but act locally
Country-specific stories are where to look for volatility, writes Fenics
Treasurers turn to AI in bid for sharper forecasting
Wider automation could usher in future of 'hands-free-hedging', but obstacles lurk in data standards and sharing
Puddles and pools: how to optimise FX liquidity
Fragmented pricing makes it hard to compare and analyse market-makers, say HSBC quants