Buy side
Bank ALM crisis leaves FX hedgers with steeper roll costs
Spreads on EUR/USD forwards jumped more than fourfold in past two weeks
Refinitiv’s FXall launches automated forward fixing tool
New service offers asset managers automatic competitive pricing for a benchmark trade’s forward points
Big investors undeterred by crypto failures – Goldman exec
Financial institutions are forging ahead with investment plans despite the sector’s recent troubles
Wheels on fire: automated algo selection takes off in FX
Embrace of workflow automation and data analytics is driving asset managers’ adoption of FX algo wheels
P2P platforms look to bring banks into the fold
The USP of peer-to-peer FX matching venues is that they cut out the middleman. So why are they now inviting them in?
Hedge funds push yen options bets to next BoJ meeting
Target shifts as vol punts on change to rates policy fall flat
GFXC to entice buy-side code adoption with ESG tie-ups
Rating agency partnerships would link FX code adoption to ESG scores
New buy-side tools seek to break grip of bank FX algos
Proprietary algorithms come of age to provide alternatives for the buy side
Morgan Stanley IM slashes FX options book
Counterparty Radar: Manager’s reduction tanks JPM’s market share with sector
Morgan Stanley regains FX forwards top spot
Counterparty Radar: US bank dethrones HSBC, which slipped to fourth in Q3
Senior FX exec for buy-side sales departs Citi
Caryn Freiberger most recently led North America FX sales for real money clients
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
Return of volatility revs up FX options market
Macro disruption hikes volatility for eager dealers, however liquidity and spread compression remain a concern
Cboe bans FX code holdouts from Full Amount platform
Only FX Global Code signatories will be allowed to trade on the anonymous platform from August 1
Banks prepare to unleash FX swap bots
BNP Paribas, JP Morgan build execution algos to plug into platforms – but swaps liquidity needs to catch up first
Dealers advancing electronic FX swaps trading on CME
Deutsche Bank is among a handful of dealers using CME’s FX Link platform to help automate market-making
FX HedgePool to push into spot market by year end
Buy-side P2P swaps matching engine to launch new service for WM/R benchmark
GFXC launches tool to spur buy-side adoption of FX code
Standard-setter aims to overcome “lukewarm” buy-side response with web-based prototype tool
MSIM cuts third of FX options volume amid market contraction
Counterparty Radar: Manager pares $13bn of USD/RMB trades, deals blow to BNP’s market share
State Street flies high in FX forwards as Goldman, Citi dive
Counterparty Radar: Goldman loses half of market share, drops out of dealer top 10
This year’s model: how FX algo usage is evolving
Changes see traders favour opportunistic and pegged styles over TWAP for larger orders, finds BestX’s Aled Basey
Duck! Buy side plan to dodge IM rules could backfire
Three-quarters of phase five firms do not expect to exchange margin for at least six months
Is Citi’s SA-CCR hit a sign of things to come?
Higher cost of capital for banks dealing in short-dated uncollateralised FX swaps and forwards could impact dealers and clients alike