Market-maker
BofA quants propose new model for when to hold, when to sell
Closed-form formula helps market-makers optimise exit strategies
Bitcoin ETFs drive demand for borrowing in crypto markets
Mismatch between cash and crypto settlement cycles creates pre-funding challenge
Coex Partners hires former Citi head of FX Apac sales
Matt Long joins Coex in Singapore to oversee FX execution and trading strategy for regional clients
Automated market-makers create market integrity and stability risks – research
Canadian study warns of real economy impact, depending on level of interconnection
Keys to the kingdom: dealers open doors to passive trades
Banks provide entry to internal exchanges and principal trading desks
FXSpotStream looks to growth products beyond spot
New chief exec Jeff Ward highlights NDFs and FX swaps as next boom area for the venue
Natixis turns on the taps in flow trading
French bank boosts flow business, balancing structured solutions capabilities
How banks are adapting to all-powerful pod funds
Growth of multi-manager funds such as Citadel, Millennium and Balyasny has forced dealers to switch tactics in an attempt to preserve profits
HSBC wins six Apac FX house of the year awards
With one of the strongest footprints in the Asia-Pacific region (Apac), HSBC provides international clients with an extensive local FX franchise while facilitating local clients’ access to international markets
Inside BGC’s quiet move into agency broking
The interdealer broker’s Caventor Capital arm is pitching a hands-on service for hedge funds, filling what it sees as a gap left by large banks
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
Podcast: Barzykin and Guéant on FX market-making
Industry quant teams up with academics to build better risk tools for FX markets
P2P platforms look to bring banks into the fold
The USP of peer-to-peer FX matching venues is that they cut out the middleman. So why are they now inviting them in?
FX primary venues seek reversal of fortunes
EBS and Refinitiv fight to restore market share – but bilateral trading may be too entrenched, dealers say
Should you hedge or should you wait?
New approach introduces quantitative framework for optimal FX hedging
Return of volatility revs up FX options market
Macro disruption hikes volatility for eager dealers, however liquidity and spread compression remain a concern
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
Refinitiv uses rebates and speed to drive Matching liquidity
LSEG arm takes carrot-and-stick approach to market-making on primary venue
Optiver aims to gatecrash FX options private party
Dutch non-bank hopes to exploit shift to electronic markets in OTC options, following record $7bn trading day
Direction of travel on last look becomes clear
Hold time holdouts likely to fall into line in face of increased regulatory scrutiny
Digital Vega aims to slash FX options fees with new Clob
Traders hope platform can loosen grip of voice brokers, despite concerns over market fragmentation