Leverage
BIS says carry trade unwind is part of broader pattern
Multi-strategy hedge funds drive spillovers across asset classes, analysis finds
Could prime of primes go pop?
The PoP market is booming, but some tier one banks are wary
PoP goes FXPB: prime of prime fizzes, but isn’t to all tastes
Sources report ebullient growth among PoPs, despite lingering wariness around risk redistribution
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
FX swaps clearing redux
SA-CCR could unleash the potential of clearing, and may ignite some big changes
SA-CCR adoption may spur wider FX swaps clearing
With up to 90% lower exposures on offer, dealers say capital benefits could outweigh margin costs
FX HedgePool: move to clearing may be irresistible
Jay Moore says balance sheet pressures will redefine buy-side credit relationships
Esma warns retail brokers over ‘pro’ push
Regulator warns brokers not to promote professional status to unqualified investors
Record builds synthetic FXPB offering
Specialist currency manager will use tri-party model to move securities collateral between banks
Saxo Capital Markets: Esma leverage limits on CFDs good for industry
The policy will reward well-behaved retail FX brokers
TriReduce CLS FX expands compression service to third parties
All market participants can now take advantage of the compression benefits
Brokers see mixed impact from Esma crackdown
Several brokers believe Esma’s decision will be good for retail investors, while others expect a flight to more lenient jurisdictions
BNY Mellon to build franchise partnerships using FXPB
The bank’s FX prime brokerage beta clients could go live within the next month
FCA sees 'serious risk of harm' in CFD products
In a letter addressed to the chief executives of CFD providers and distributors, the UK watchdog highlighted several areas of concern
BNY Mellon zeroes in on FX
Newly hired James Taylor discusses the business transformation taking place in foreign exchange at the bank
Esma proposes crackdown on CFDs and binary options
Esma considers ban on binary options and tighter leverage limit rules for contracts for difference
UK watchdog proposes tougher rules on CFDs
Leverage limit of 25 times for inexperienced retail clients and a cap of 50 times for all clients are among the suggestions
TriOptima completes first USD/KRW compression
Eleven institutions save $8.8 billion of notional
Leverage ratio begins to bite for FX derivatives
The capital-intensive rule for banks, which has already affected the rates and credit world, is starting to hit FX - with clients expected to bear the brunt of higher costs
Investment managers ramp up leverage with NDFs
Both pension and mutual funds have become increasingly interested in the higher leverage achievable on cash-settled products compared to physically-settled derivatives
Oanda back to basics as tough rules hit retail market
Margin FX trading provider Oanda is shelving plans to expand into the institutional space and is moving its focus back to retail clients