Currency
Flexi forwards see rise in corporate interest post-Covid
Treasurers seek flexibility in cashflow hedging as pandemic-related supply chain disruptions bite
BoE and Treasury launch CBDC task force
Central bank also forms new division to lead “internal exploration” of digital currency
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
Foreign corporates rally round new Thai baht hedge rules
Cheaper onshore pricing draws non-Thai corporates to Bank of Thailand’s new FX hedging scheme
US brands Switzerland a ‘currency manipulator’
Treasury also accuses Vietnam of manipulating exchange rate to gain “unfair competitive advantage”
Project Helvetia proves central banks can use tokenised assets – BIS
Benoît Cœuré says project marks “the beginning of the further evolution of central banking”
BoE needs ‘better handle’ on control of UK currency
Lawmakers highlight the UK’s disjointed cash management, which could put consumers at risk, they say
Asia’s FX markets step to the algorithm
Buy-side use of automated trading programs builds, albeit from a low base
Big moves, but no panic after tumultuous US election
Treasury market saw its largest post-election move since at least 2000 – but liquidity held up
FX headwinds cancel out HSBC’s Q3 RWAs cut
Portfolio reductions reaped $10.8 billion of RWA savings
Argentina allows peso to fall faster
Central bank increases repo rate as currency falls and inflation rises, despite severe GDP contraction
ECB steps up research on ‘digital euro’
Central bank analysing both centralised and decentralised options for a digital currency
LCH to accept Sing dollar bonds as collateral
Singapore’s banks hope move will ease margin funding burdens, and speed direct membership
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse
Boston Fed and MIT collaborate on digital currency research
Research results on software architecture will be released as open source
Market regimes: how to spot them and how to trade them
Analysing how currency pairs behave in different market regimes can improve execution, writes Tradefeedr’s Alexei Jiltsov
Swaps platform aims to cut out the banks – but not entirely
Peer-to-peer newcomer FX HedgePool targets asset managers’ month-end hedging activity
Malaysia has triumphed in FX reforms – but what comes next?
Relinquishing currency controls will be a much harder task
Jittery ringgit spurs options growth in Malaysia
Local corporates seek new hedging tools, but longer-term options liquidity lacking
Investors trade the drama out of the crisis
How LGIM, AXA, Manulife and other buy-siders tackled the toughest markets since 2008
Applying Mifid to spot FX could backfire, warns MEP
EC would need to make "very compelling case" to draw spot market into wider regime, says Ferber
Covid-19 could spur central bank digital currencies – BIS
Fear could promote use of CBDCs but data is yet to point to whether cash demand has changed
Seeing red over blue-chip swap in Argentina’s NDF fiasco
Emta protocol salve aside, peso settlement rate snafu is a warning for emerging market FX derivatives