FX options
US Bancorp looks to build out FX options and technology
Jay Green, head of FX trading at US Bancorp in Chicago, has a mandate to expand into options after joining the bank from Morgan Stanley last year
FX options clearing a 'big challenge', warns NY Fed official
Speaking at the FX Invest West Coast conference, the New York Fed's Jeanmarie Davis addressed the challenges associated with clearing and settlement of FX options
Citadel pushes fixed-income expansion into FX
Fixed-income business heads Derek Kaufman and Richard Mazzella explain their strategy in expanding Citadel's growing fixed-income business into foreign exchange. Robert Mackenzie Smith reports
Trade reporting is driving FX options out of the US, say dealers
FX options traders looking to avoid Dodd-Frank legislation have been deliberately changing their trading habits to avoid reporting regulation
FX Week Forum: The challenges of clearing options
In the first in a series of video features addressing key themes in the global FX industry, editorial director Nick Sawyer talks to FX Week editor Joel Clark about the complex issues that have delayed central clearing of FX options
FX options veteran Martin Gymer to launch start-up
FXSales, a new agency brokerage for OTC FX options, is due to launch next month, with Gymer and Kevin Tullett as co-founders
Eurex preps launch of FX options and futures
German derivatives exchange will move into the FX market in October as it aims to compete for volume in listed futures and options
Saxo Bank adds ruble pairs to options platform
USD/RUB and EUR/RUB will be added today as the Danish bank answers increasing client demand for the ruble
360T makes senior hire to lead FX options
Expansion of 360T's US presence continues with the appointment of Glenn Rosenberg as global product manager for FX options, based in New York
Legal & General's FX trading head tasked to grow derivatives
Newly appointed to head FX trading at Legal & General Investment Management, options trader Virginie Queval is looking at ways to grow the firm's small FX business
Dion rolls out RFQ system for FX options
Technology vendor aims to help clients, particularly second-tier banks, meet new regulatory requirements for options
Digital Vega to add non-deliverable options to Medusa
NDOs in testing on Medusa platform as some market participants begin to consider alternatives to deliverable FX options that could be more easily cleared
Tradition-Icap ramps up FX options offering with RFQ product
Broker is adding VolCall to its Volbroker platform in the hope of taking more of its options business electronic
FX could move to financial settlement under clearing pressure – GFXD’s Lam
Addressing the challenges of clearing deliverable FX products, Mandy Lam of the global FX division suggests more products could become financially settled in the future
Best provider of FX clearing: Citi
Despite the challenges associated with clearing foreign exchange, Citi wins this award as one of the best-placed banks to succeed when it becomes mandatory
SurfacExchange faces uncertain future
Market participants report the multibank FX options platform that launched in mid-2011 has gone quiet in recent months following the exit of its chief executive
Options platforms struggling with dearth of liquidity takers
Some FX options platforms have struggled to gain traction in a new and untested market, but banks say the problem is one of low demand for, rather than provision of, liquidity
Market relief as CFTC approves final Sef rules
Request-for-quote rules are watered down and voice broking allowed to continue under final Sef rules from the CFTC
New global FX options head at Credit Suisse
Joerg Schmuecker takes on new role in private banking and wealth management
Tarns gain favour as investors seek to exploit range-bound pairs
Target accrual redemption notes have regained some popularity after losing favour during the crisis, but investors are keeping a firmer eye on the risks, say dealers
Options clearing pushed to 2014 as solution search begins
As the search for a viable clearing mechanism for FX options begins, market participants suggest clearing won't begin before 2014
SurfacExchange in acquisition talks
Multibank FX options platform confirms it has seen an 'uptick' in conversations over a potential acquisition, as rivals make tweaks to their ownership structures ahead of Sef registration race
Increased risk appetite causes spike in relative value FX trades
Investors are turning to relative value trades to provide low-premium, guaranteed downside and good leverage to the upside, traders say
US volumes dive after Sandy hits FX survey data
Average daily FX volume fell again in the US, UK and Canada in October 2012, but the fall was sharpest in the US, partly due to the effects of Hurricane Sandy