Volatility
UK budget gives sterling options traders a wild ride
Reaction to tax cuts sparks most active week for GBP/USD options traders since Brexit negotiations
BoJ currency intervention spurs FX options traders
Traders turn bearish on USD/JPY FX vol over further central bank intervention
Margin costs leap on Simm rejig and rates hikes
Acadia finds roughly one-third jump in exposure following Simm recalibration, with higher funding costs adding to burden
Time to shine: corporate FX’s surprise glow-up
Corporate FX enjoys its time in the sun as currency headwinds spark corporate hedging needs
Return of volatility revs up FX options market
Macro disruption hikes volatility for eager dealers, however liquidity and spread compression remain a concern
Phase six margin cohort may exceed estimates as vol bites
Acadia sees numbers around a third higher than initial count, with fewer set to rely on relief
FX dealers bolstered by return of volatility
Vol's resurgence this year has created opportunities for dealers – but also some risks
Hedge funds pile into renminbi FX options
Investors target call spreads and RKOs in what traders say is one of 2022’s most profitable trades
Corporates boost FX hedges as US dollar surges
Banks see more business, but also rising exposures, from corporates’ FX decision-making
Duck! Buy side plan to dodge IM rules could backfire
Three-quarters of phase five firms do not expect to exchange margin for at least six months
How big data has changed dealing for good
Artur Deliergiev, algorithmic quantitative trading manager at CMC Markets, looks at the changes brought about by automation on the trading floor and why he considers it a step in the right direction
The ongoing electronification of FX in Asia
Martin Haines, managing director, Asia, at KX explains how KX Insights – a cloud-first, real-time analytics platform – can add scale and efficiency to real-time analytics programmes for customers in Asia to adapt to different trading environments and…
FX option selling and weak demand behind vol slide, say traders
EUR/USD vol inches towards pre-Covid lows, but some believe inflation could upset trend
Clunky crypto markets serve quants well – can it continue?
Poor price discovery presents opportunities for systematic traders in super-trending markets
FOMC surprise led to hedge fund losses, say traders
Fast money caught out by June dollar bounce after Fed’s surprise hawkish tone
El Salvador’s bitcoin currency experiment
Move by first nation to approve bitcoin as legal tender raises important issues, writes former Fed advisor
Quant fund aims to tame bitcoin, and 39 other digital assets
Ex-Morgan Stanley, Winton vets reimagine institutional risk management for volatile crypto markets
CFTC urged to take lead on CCP margin models
Advisory committee unable to agree steps on margin period of risk, model transparency
Asset managers hold the key to any FX revival
For a regime shift to truly occur, long-term investors need to get on board
Strike a pose: deal contingents back in vogue after mid-year slump
M&A revival breathes life into deal contingent trades, but elevated risk keeps prices high
Big moves, but no panic after tumultuous US election
Treasury market saw its largest post-election move since at least 2000 – but liquidity held up
Why bigger can be better with FX options
Large notionals often trade at significantly tighter spreads than smaller ones. Simon Nursey at Digital Vega explains why
FX volatilities fall on receding US election fears
Polls point to a decisive Biden win – though some worry market is being complacent