Foreign exchange
Vanguard, FX forwards kingmaker
Counterparty Radar: How the fund giant influenced banks’ overall forwards fortunes in 2020
US funds’ FX forwards settlement dates show clustering effects
Counterparty Radar: Analysis shows concentrations appear on certain dates, which can differ by currency
FX code adherents may get better pricing, say LPs
If trading platforms show buy-siders’ code status, signatories could see lower prices
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
Singapore’s SWF starts work on cross-border payment network
JP Morgan, DBS Bank and Temasek say project will build on collaboration with MAS
Invesco bets on new tech to refine its FX trading
Home-grown tool will improve order routing and execution strategies, asset manager believes
BIS to operate sterling liquidity facility backed by BoE
Move echoes twentieth-century arrangements when BIS acted as intermediary in swaps network
Simm template to be expanded for SA-CCR and FRTB
Crif-plus will capture risk exposures for all instruments, boosting optimisation potential
Franklin Templeton and Citi top for FX options
Counterparty Radar: Data shows US bank as top dealer for mutual funds in Q3 and Q4, while Californian manager is biggest user
Price limits in FX algos: fill your boots
Do limits affect performance? Double machine learning helps answer the question, says BestX quant
FX industry shows little appetite for single API
Market players sceptical over need for standard programming code to connect clients with services
IMF weighs up $650 billion SDR issuance
Figure would allow Biden administration to avoid a vote in Congress
FX HedgePool targets Europe as volumes grow
Platform eyes expansion, as swaps volumes hit $1.5 trillion since inception
Could private match-making sink public market?
Rise in internal hedging sparks debate over its threat to price discovery
Vanguard extends forwards dominance as Citi dips
Counterparty Radar: Fund giant responsible for more than a third of total forwards volumes and half of EUR/USD in Q4
Deutsche Börse eyes quantum computing
Pilot application to model enterprise risks cuts computation time from 10 years to 30 minutes
GFXC sees no changes to code on pre-hedging
Committee rejects calls to set more strict boundaries to controversial practice
OTC FX options market gears up for faster electronification
Share of electronic trading remains low but host of factors promise to change that for good
Optimisation firms prep for SA-CCR boom
FX expected to be big focus of industry’s new slimming drive – and vendors are jockeying for position
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
Banks nervy over GFXC plan for algo cover sheets
Disclosing inner workings of algorithms could result in loss of intellectual property, banks warn
Central banks must mobilise their FX reserves
Pandemic and climate crises call for bold action, write Gary Smith and John Nugée
A peek inside GFXC’s algo cover sheets
Order priority and segregation policy among the items under discussion
Asset managers hold the key to any FX revival
For a regime shift to truly occur, long-term investors need to get on board