Liquidity
J.P. Morgan brings greater transparency to the overlay space
Demand for J.P. Morgan’s FX overlay market services has risen significantly as market participants navigate the hedging and execution complexities of the market
Franklin Templeton dethrones MSIM as top FX options user
Counterparty Radar: MSIM continued to cut RMB positions in Q3, while Franklin Templeton increased G10 trades
Review of 2024: FX traders face new paradigm
Volatility from elections and central bank policies shaped trading activities, while LPs innovated
Doubts raised over new FX platform disclosures
New disclosure sheet template will require platforms to outline how they charge for data
Profit and pain as macro turmoil engulfs Brazil
FX options trades pay off, while sharp jump in rates caught traders by surprise
Repo and FX markets buck year-end crunch fears
Price spike concerns ease as September’s surprise SOFR jump led to early preparations for bank window dressing
Consortium-backed FMX eyes push for FX unit
Formerly Fenics FX, the venue has seen growth from dealers and non-banks using its pegged order types and dark pool liquidity
Bilateral streaming relationships set to grow, say LPs
FX Markets Europe: More clients are embracing APIs to access bank liquidity directly
Dealers weighing response to FXGO’s fee plans
Spread compression means costs will likely have to be passed on to clients, say banks
SocGen makes Americas FX push with string of new hires
French bank eyes US and Latin American real money clients
BNPP ups efforts to weed out skew sniffers
French bank deploys skew sensitivity algo to help identify predatory behaviour
BofA’s e-FX rebuild pulls it closer to rivals
Deploying its equities tech stack, bank seeks to get ahead with its algo and e-FX offerings
Best prime-of-prime broker: Saxo
With its well-rounded offering and solid balance sheet, Saxo stood out as a trusted liquidity partner, regardless of market conditions
Goldman Sachs retakes top FXO dealer spot with mutual funds in Q2
Counterparty Radar: Trades with SEI Investments boosts US bank to top spot
BofA quants propose new model for when to hold, when to sell
Closed-form formula helps market-makers optimise exit strategies
Ruled out: can regulators settle the pre-hedging debate?
Market participants are at odds over the practice and whether regulation or principles can settle the score
Crypto options need more principal market-makers – GS trader
Absence of risk warehousing market-makers holding back options development, says GS crypto trader
FX data champion outlines transparency push
Stuart Simmons, new head of GFXC working group, wants trading platforms to come clean on how they use client data
Dealer relief at delays to Refinitiv Matching’s tech migration
First phase of replatforming for Swiss spot pairs set to be pushed to mid-2025
Jane Street ups its game in FX market-making
High-frequency trading firm now streaming bilateral spot FX liquidity to clients
Triggers of August market ‘flare-up’ still in place, BIS warns
Leveraged positions remain at risk of sudden unwinding, as margin calls play amplifying role