FX swaps
US banks fight back in FX forwards
Price differentials have narrowed as banks learn to live with SA-CCR
Bank ALM crisis leaves FX hedgers with steeper roll costs
Spreads on EUR/USD forwards jumped more than fourfold in past two weeks
Pimco nearly halves FX forwards book in Q4
Counterparty Radar: West Coast manager’s 45% cuts send Morgan Stanley to fifth place in dealer rankings
Refinitiv’s FXall launches automated forward fixing tool
New service offers asset managers automatic competitive pricing for a benchmark trade’s forward points
Living with SA-CCR, one year on
Collateral agreements and FX futures may be some of the ways to tackle increased capital costs
SA-CCR gives RBC a chance to prove its worth
RBC attempts to entice buy-side clients with aggressive FX forwards pricing strategy
Review of 2022: the return of volatility
Russia and the Fed set markets ablaze, while SA-CCR shook up FX swaps
PBoC deposit requirement hits FX hedging, again
Reinstated rule hikes forwards costs and dents volumes, but volatility sees corporate demand persist
Senior FX exec for buy-side sales departs Citi
Caryn Freiberger most recently led North America FX sales for real money clients
Deutsche Bank plans expansion of Pro algo to FX swaps
German bank’s principal resting order algorithm should support swap clients in 2023
Regional banks beef up FX pricing tools
TraderTools’ PriceOn tech enables regional banks to internalise FX flows similar to top-tier dealers
SA-CCR hit on US banks could hinder year-end dollar funding
Potential lighter presence of US banks in swaps market may affect buy side’s ability to roll hedges
GFMA proposes disruption settlement framework for FX
Russian ruble close-out pain triggers calls for voluntary multilateral pricing framework
Will last look disclosures come to FX derivatives?
JPM and NatWest have published their swaps and options last look windows – will others follow suit?
Banks prepare to unleash FX swap bots
BNP Paribas, JP Morgan build execution algos to plug into platforms – but swaps liquidity needs to catch up first
JP Morgan fined for not reporting half of FX swap trades
US bank incorrectly believed one-day swaps did not have to be reported
Dealers advancing electronic FX swaps trading on CME
Deutsche Bank is among a handful of dealers using CME’s FX Link platform to help automate market-making
European banks can’t escape SA-CCR hit, warns FX exec
Although not yet directly affected, EU dealers may feel regulation’s impact, says Goldman’s Wilkins
Eurex to debut NDF clearing after mothballing physical FX
Bourse hoping to scoop up EU clients trading on 360T, eyes September non-cleared margining deadline
Is Citi’s SA-CCR hit a sign of things to come?
Higher cost of capital for banks dealing in short-dated uncollateralised FX swaps and forwards could impact dealers and clients alike
Pricing data is key to unlocking FX swaps e-trading
Digitec’s Stephan von Massenbach on why automation is needed for e-trading to reach its potential
SA-CCR hits Citi’s FX forwards pricing
Four clients say US bank has quoted “less competitive” spreads as a result of new capital regime