Multi-dealer platform
Currenex loses US court bid to reveal XTX trade secrets
Judge also rules the venue must reveal its own matching code in class action case
FX options’ MDP migration
Volumes on multi-dealer platforms are climbing, but dealers warn pricing may not be optimal
SpectrAxe fires up OTC FX options Clob
Go-live marks first electronic all-to-all venue for buy-siders trading the instruments
Korea FX reforms expected to drive e-trading surge
Dealers say opening onshore FX market to foreign firms will push trading onto platforms
Banks mull whether to stick or twist with SDPs
Fewer providers are going all-in on single-dealer platforms, as consolidation and outsourcing are on the cards
Banks face tough choices over single-dealer platforms
Costly upgrades and shifting execution methods by corporates could challenge SDPs
More, not fewer, FX platforms perplexes dealers
Predictions of consolidation have been wide of the mark
To rest or aggress? Trends in FX options Clob trading
Buy side’s execution style is evolving towards passive resting orders, finds CME Group’s Chris Povey
Corporate-focused banks see boom in FX trading volumes in H1
US banks report higher FX swaps and forwards volumes from corporates as SA-CCR effect wanes, BCG research shows
Plugging the leaks in skewed pricing
Liquidity recycling has made it trickier for LPs to identify information leakage
SGX launches new Clob for FX spot and NDFs
CurrencyNode to tap into new matching engines in Singapore, and eventually will look to offer futures-spot spreads
Best liquidity provider for corporates and Best single-dealer platform: Citi
Citi discusses its win of two FX Markets e-FX 2022 awards, and the role its client-focused single-dealer platform had to play in its win
Nomura targets smaller Chinese banks after first CFETS trade
Japanese bank is one of seven offshore FX dealers offering G10 pricing on China’s interbank market
Banks turn to analytics playbook to take on FX platforms
Dealers aim to lure clients from high-fee multi-dealer platforms with improved investment analytics
New FX trading engines power growth for banks in Singapore
Influx of banks setting up electronic matching engines drives trading volumes in city-state
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
Can Clobs level the playing field in OTC FX options?
Electronification could be a “game changer” for smaller liquidity providers, say participants
Dealers look to cut SDP prices amid platform fee battle
JP Morgan offers different pricing for single and multi-dealer venues; Barclays mulls same approach
Fee standoff intensifies as FX spreads compress
As spread squeeze continues, brokers refuse to budge on trading fees
For FX liquidity buyers, fewer providers mean better execution
As consumers’ understanding of best execution evolves, “quality over quantity” becomes buy-side mantra
Currenex case may herald focus on e-FX’s ‘Wild West’ days
FX sources say “uncomfortable secrets” could emerge as attention turns to platform relationships