Currency
Revival of FX carry strategy leaves quants unconvinced
Record returns in March give little comfort that strategy is ‘back’
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
Offshore waves: how the ruble is becoming a painful trade
As liquidity dries up in markets affected by sanctions, trading is shifting from electronic venues
Optiver aims to gatecrash FX options private party
Dutch non-bank hopes to exploit shift to electronic markets in OTC options, following record $7bn trading day
Russia sanctions throw derivatives market into disarray
Lawyers say western banks face illegality terminations; industry groups plan deliverable ruble workaround
Fed paper explores stablecoins’ impact on financial system
Researchers say stablecoins could be a ‘digital safe haven’ during volatility, but design choices matter
Bank of Mexico overhauls peso closing rate in fillip for derivatives
Dealers welcome changes which, they say, will iron out kinks in valuing swaps, forwards and other currency products
CMC Markets’ 2021 technology drive
Richard Elston, group head of institutional sales at CMC Markets, discusses the highlights of recent technical developments, illustrating what that means for the company and its growing institutional client base
Hedging specialists vie for swelling FX overlay business
Custodians, banks and others look to capitalise on trend for buy side to outsource currency hedging
Bank of Tanzania ‘working on CBDC’, governor says
Luoga says “cryptocurrencies are not safe” and president has urged work on CBDC
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
Argentine central bank freezes banks’ FX purchases
BCRA order comes amid a falling peso, IMF talks and mid-term elections
Nigeria launches ‘digital naira’ pilot
Central bank issues $1.2 million in retail CBDC after clampdown on private crypto
The post-trade revolution: transforming the ability to manage liquidity and risk
Alex Knight, head of Europe, the Middle East and Africa at Baton Systems, explores the ongoing technological revolution in post-trade processing that consigns the problems of inefficient, costly and restrictive processes to the past
Nigerian central bank will test prototype CBDC
“eNaira” will be tested in four cities, reaching a combined population of nearly 15 million
Dealers back CLS plans for EM settlement system
12 banks announce support for project to extend PvP protection to certain CLS-ineligible currencies
Bitcoin becomes legal tender in El Salvador
Observers warn move could further destabilise the fragile Salvadoran economy
Stronger together: CLS’s chief risk officer on risk culture
Deborah Hrvatin discusses integrated risk management, mega-hacks and model risk
US mutual funds’ crypto holdings doubled to over $1bn in Q1
BlackRock and MSIM are among 16 US fund managers dipping their toes into crypto investing
CBDCs provide ‘clean slate’ for cross-border payments, says report
International bodies urge central banks to bolster CBDC co-operation
Sri Lanka central bank imposes capital controls
Measure restricts exports of foreign currency as government faces debt challenge
Carney warns CBDC delays play into hands of big tech
Delays risk entrenching the power of tech firms and encouraging less desirable forms of money, former BoE governor says
Ailing Suriname floats its currency
Defaulting country holds debt talks as inflation and corruption take toll
Dollar’s share of global reserves falls to 25-year low
Gradual decline may stem from currency diversification by emerging market central banks – IMF report