Trading
FX Spot+: connecting OTC traders to FX futures liquidity
CME Group’s new all-to-all spot FX marketplace translates futures liquidity into spot terms, expanding liquidity access to OTC traders
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
FX options: rising activity puts post-trade in focus
A surge in electronic FX options trading is among the factors fuelling demand for efficiencies across the entire trade lifecycle, says OSTTRA’s commercial lead, FX and securities
Quants dive into FX fixing windows debate
Longer fixing windows benefit clients, but predicting how dealers will respond is tough
BNP Paribas hires New York FXO head from Deutsche Bank
Former emerging markets FX options trader joins French bank to lead desk
Popular CNY carry trade starts to lose traction
Investors seek unwinds of China govvies swapped into USD after FX and rates movements dent its appeal
More disclosure touted to temper pre-hedging ills
Transparency could help investors choose a dealer, but will they use the disclosures?
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
Podcast: Lorenzo Ravagli on why the skew is for the many
JP Morgan quant proposes a unified framework for trading the volatility skew premium
Automated market-makers create market integrity and stability risks – research
Canadian study warns of real economy impact, depending on level of interconnection
Automation the answer to costly fat finger errors
e-FX Forum: BNP FX exec says trading and booking problems can create up to 4% hit on P&L
Are market-makers better at dealing with central bank intervention?
Lack of pain following BoJ intervention suggests dealers are better at handling event risk
FXSpotStream looks to growth products beyond spot
New chief exec Jeff Ward highlights NDFs and FX swaps as next boom area for the venue
JP Morgan leads US banks’ FX trading revenues
Only two dealers recorded growth last year as Goldman Sachs reports 75% drop
Quants look to language models to predict market impact
Oxford-Man Institute says LLM-type engine that ‘reads’ order-book messages could help improve execution
FX-style crypto platforms could bridge gap with TradFi
Emergence of execution-only ECNs, prime brokers and clearing houses brings new confidence in crypto
Iosco takes aim at pre-hedging with new probe
Global standard-setter intends to release results of review in third quarter of 2024
Citi promotes top corporate sales exec to global FX role
The 35-year veteran takes over from Stuart Staley who led the business for two years
Best exchange for FX: CME Group
Following years of investment in its platform, CME Group has created an FX marketplace that provides market participants with a breadth of trading options that cater for myriad execution and trading styles and market conditions
Regulatory confusion clouds first annual IM recalculation
Firms dropping out of scope may need to continue posting non-cleared margin in some jurisdictions
FX Markets Asia FX Awards 2023: Credit Suisse
Credit Suisse operates an automated market-making business in principal FX and precious metals, which attracted the judges’ attention in the Best e-FX trading house category