Derivatives
Tradeweb joins multibank FX options fray
The launch of Tradeweb’s multibank platform for FX options puts the vendor into competition with a host of other new platforms
Afme liquidity conference: Buy side pushes for greater control of FX execution
Tools such as transaction cost analysis and execution management systems, traditionally deployed in trading equities, are becoming more important for buy-side FX traders, says Axa IM’s FX trading head
Spotlight on: Damian Glendinning, Lenovo
The Chinese PC manufacturer’s group treasurer talks to Joel Clark about his role in setting up a global treasury function when Lenovo bought IBM’s PC business in 2005, and explains his belief that FX risk management should be kept as simple and…
Icap's Spencer: 'not a prayer' of UK agreeing to FTT
Proposed EU trading tax would be vetoed by UK, says Icap's Spencer - if not, the broker will move its London HQ to New York
Corporate hedgers count costs of volatility
Recent volatility in foreign exchange markets has created a tough hedging environment in major currencies, says British American Tobacco's dealing room manager
Hildebrand scandal leaves Swissie expectations broadly unchanged
Swiss National Bank expected to hold EUR/CHF floor following governor's resignation, but an increase from 1.20 might now be delayed
G14 dealer group adds two members
Nomura joined the group at the end of August, while Crédit Agricole is expected to join in the first quarter next year - in part a response to regulator criticisms that the group had become too exclusive
Political crisis in Europe brings volatility back to FX options
Volatility returned to eurodollar last week as FX traders priced further downside risk into euro options
CFTC urged to rethink rules that threaten cross-margining
In a world where central clearing and bilateral collateral posting are mandatory, margin efficiency will be a big draw, and one obvious way to achieve it is through cross-product margining. Unfortunately, it is difficult to achieve – and Commodity…
Eurozone deal brings relief in FX spot and options
Risk sentiment appeared to make a comeback in FX markets yesterday as options volatility fell from record highs and the euro rallied in response to the deal announced after the Euro Summit in Brussels
New standard CSA could be rolled out in Q2 2012
An implementation plan for the new standard CSA is set to be reviewed by the Isda board in September, with a first-phase rollout expected as early as the second quarter of 2012
LCH.Clearnet reiterates commitment to FX clearing
Clearing house reaffirms its intention to launch ForexClear, which will sit alongside SwapClear and a newly expanded CDSClear service
Options traders braced for further SNB intervention
Demand has switched from downside EUR/CHF options to upside options in anticipation of further Swiss franc weakening measures from SNB, say senior options traders
CNH deliverable forwards in Hong Kong could outgrow NDFs
Rising offshore renminbi interbank rates in Hong Kong have made its deliverable forwards market the cheapest way for corporates to hedge, compared with NDFs and onshore forwards, say bankers
Société Générale to provide options liquidity to FX Bridge
French bank is integrating systems with US-based vendor’s ProTrader Plus platform
Forex options clearing complicated by guaranteed settlement requirements
CPSS-Iosco guaranteed settlement requirements make FX options clearing more difficult, say participants
FX Invest: US margin proposals could lock down $2 trillion in assets
Requirement for banks to post initial margin when trading with each other will result in huge amounts of liquid assets being locked down, according to analysis by one US prudential regulator
Deconstructing Emir
The European Parliament is putting the finishing touches to its version of the European market infrastructure regulation, but a loophole in the rules could allow derivatives users to escape the clearing requirement, warns MEP Kay Swinburne. Matt Cameron…
Trade associations lobby for clarity on extraterritoriality
Eight trade associations lobby Geithner and Barnier to address extraterritorial concerns
FXCM and SuperDerivatives to launch options platform within days
Deal-X platform will launch with three liquidity providers on July 14, to be followed soon after by SurfacExchange's Surface Wave venture
European Parliament rejects Swinburne’s forex exemption
Crucial plenary vote on Emir on July 5 retains suggested amendments to recognise unique nature of FX derivatives, but stripped out explicit calls for an exemption
Hong Kong fixing sets benchmark for CNH spot
Hong Kong interbank participants have created the first US dollar/offshore renminbi price fixing, giving the city first-mover advantage in renminbi products such as derivatives
Spot USD/CNH fixing in HK poised to become derivatives benchmark
Hong Kong interbank participants have created the first US dollar to offshore renminbi price fixing giving the city first-mover advantage in becoming an offshore centre for renminbi products such as derivatives, say market participants
Deutsche merges OTC and listed derivatives clearing
Markets Clearing will combine the bank's existing clearing capabilities across FX, rates, credit, commodities and equities