Bilateral trade
Banks push back on proposal to lengthen CLS cutoff time
FX Markets USA: Move to widen window could mean significant infrastructure work for banks
Argentina and Brazil’s currency proposal met with scepticism
Experts say it is unclear whether governments want currency union or trade settlement mechanism
Sterling shocks have traders back on the phones
FX Markets USA: liquidity shocks herald a shift back to voice trading
A SwapAgent-bilat basis? Not for now
SA-CCR may make settled-to-market capital benefits more difficult to quantify
What’s up with the docs? Isda aims to set standard for crypto
Industry body looks to standardise digital derivatives documents, but some wonder if it is best placed to do so
Russian ruble trading steps back in time
Wild spread swings see offshore RUB market and electronic trading disappear
LSEG beefs up non-cleared ambitions with Quantile deal
Agreement to buy optimisation firm for £274m strengthens LCH’s FX foothold as SA-CCR bites
Price advantage could spur buy-side clearing, says Goldman exec
Margin savings alone may not be enough to boost buy-side use of CCPs
Futures aim to put a dent in FX swaps supremacy
Advent of margin rules sharpens appeal of exchange-traded instruments for buy-siders
EU’s initial margin relief may come too late for phase five
Long-awaited easing of model governance requirements unlikely to take effect by September
Dealers drag their feet on NDF clearing, say prime brokers
Trade mismatches and other wrinkles hinder clearing between executing broker and prime broker
US brands Switzerland a ‘currency manipulator’
Treasury also accuses Vietnam of manipulating exchange rate to gain “unfair competitive advantage”
Bilateral streams slash FX trading costs by 80%, dealers claim
Risk Live: FX dealers report 70% of spot traded in bilateral feeds, at least four times cheaper than RFQs and venues
Peer-to-peer is not a zero-sum game
Some mistakenly talk of P2P as taking over the swap market, but it will be more of an accompaniment
FX swaps clearing redux
SA-CCR could unleash the potential of clearing, and may ignite some big changes
E-trading takes hold for FX swaps – sort of
Bulk of trades are being executed over screen, but bolder changes have stalled
Price changes expected as uncleared margin rules bite
Panellists urge buy side to install lifecycle management tools to calculate margin and reconcile payments with brokers
Best price via disclosed trading questioned – survey
Half buy-side in new survey don't use TCA, so can't say with certainty dealing bilateral results in best ex
Central banks adapt to faster markets, says BIS report
Fast pace of today’s markets means central banks must change approach to fulfil responsibilities
SGX is launching FX futures solution
New feature lets market participants trade customisable FX futures contracts in an OTC fashion
Nex Markets launches new analytics tool
Nex Quant Analytics will use benchmark data from the EBS ecosystem to deliver real, measurable insight for clients