FX options
JP Morgan leads US banks’ FX trading revenues
Only two dealers recorded growth last year as Goldman Sachs reports 75% drop
FX options traders rethink vol drivers amid macro uncertainty
Market-makers believe more and more events will influence options pricing as political risk bubbles up during 2024
Corporates eye FX options as hedging costs shrink
With hedge ratios tipped to rise, dealers say treasurers are increasingly open to optionality
Uncertain rates outlook poses challenge for corporate FX hedgers
Hedging programmes may need a revamp as EM/G10 rates differentials narrow
US mutual funds’ passion for LatAm options undimmed in Q3
Counterparty Radar: Carry trade opportunities see managers’ positions increase tenfold in 2023
BofA, HSBC pick up Risk.net awards
US bank wins FX house for EM push; HSBC takes prime broker prize for rate risk margin updates
Nomura taps Deutsche’s Sharma for global options trading role
Japanese bank’s FX hiring spree continues with addition of 20-year trading veteran
To rest or aggress? Trends in FX options Clob trading
Buy side’s execution style is evolving towards passive resting orders, finds CME Group’s Chris Povey
Corporate-focused banks see boom in FX trading volumes in H1
US banks report higher FX swaps and forwards volumes from corporates as SA-CCR effect wanes, BCG research shows
FXPBs see compression tech as key for credit optimisation
FX Markets USA: Providers hope new tech solutions can help replenish credit lines to hedge funds
StanChart sees big uptick in FX options positions
Counterparty Radar: UK bank benefits from MSIM trades as market for US mutual funds expands in Q2
Hedge funds turn to exotics for EM carry trades
Traders eye dual digitals to cheapen up carry plays
Hedge funds ease off profitable China FX options trade
Some still hold positions but an appreciating renminbi may make them less profitable for now
CME and Digital Vega to offer joint solution for block FX options
Tie-up aims to enable buy-side firms to tap benefits of central clearing via OTC-style workflows
MSIM revived RMB options activity in Q1
Counterparty Radar: Investment firm added $2 billion in dollar/renminbi options, mainly with JP Morgan and StanChart
HSBC, JP Morgan and Morgan Stanley take top spots in FX dealer rankings
US dealers tend to have larger books, but face increased competition from European rivals, according to new analysis
e-FX Awards 2023: The winners
JP Morgan and Deutsche Bank win two categories each, while UBS is best for spot
Isda survey explores refresh of FX derivatives rule book
Lawyers agree updates to definitions are needed, but some areas of focus may prove controversial
Hedge funds’ use of barrier options comes under spotlight
Former traders say Glen Point CEO’s arrest highlights compliance gulf between funds and dealers
FX options hint at potential for euro shock
Months-long rally powered by ongoing hikes, but euro-bears fear economy will crack
Mutual funds dump two-thirds of FX options positions in Q4
Counterparty Radar: Morgan Stanley Investment Management leads fall in volumes with big cuts to RMB trades
Fenics’ Kace launches FX options OMS
The system will help regional banks tap white-labelled liquidity from a single access point
Hedge funds push yen options bets to next BoJ meeting
Target shifts as vol punts on change to rates policy fall flat
Review of 2022: the return of volatility
Russia and the Fed set markets ablaze, while SA-CCR shook up FX swaps