Volatility
Banks struggle to keep trade flows in-house during volatility
Directional markets in March tested dealers’ ability to internalise risk
Inside March madness with Citi’s Tuchman
Interview: Trading rooms went virtual, central banks stepped up – but some platforms flopped
Investors trade the drama out of the crisis
How LGIM, AXA, Manulife and other buy-siders tackled the toughest markets since 2008
Assessing execution quality and slippage in volatile times
Market participants must focus on how their evaluated execution costs vary in different market regimes, writes Tradefeedr’s Alexei Jiltsov
Market turmoil causes traders to pull back to vanilla strategies
Emerging markets spreads tighten but liquidity still patchy
NDF access will help tame rupee volatility, say dealers
Lifting of restrictions stopping Indian banks trading rupee NDFs allows RBI to intervene offshore
FX options, NDFs trading slows as Covid fears ease
Analysis of transaction data shows lower notional volumes and tighter spreads for most currency pairs
Buy side eyes outsourced trading amid Covid disruption
Pressure on trading continuity drives in-house desks to look outwards
El-Erian on Covid-19 policy risks and ‘zombie’ markets
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
Who revived FX volatility?
The reports of FX vol death were greatly exaggerated. For now, anyway
Algo choice: how to implement a market impact/volatility trade-off
Quantifying how macroeconomic announcements affect market reaction is key to deploying the right FX algo, writes Alexei Jiltsov of Tradefeedr
CLS data scientists try to decode FX volatility
New team has flood of info to work on, after Covid-19 trading surge pushes March volumes up 27%
FX vol revived by Covid-19 – but for how long?
Traders split on whether virus impact or central bank responses will prove most powerful
In choppy FX markets, algos buck expectations
Goldman, Nomura and others report increased volumes, although some clients revert to principal quotes
Coronavirus jolts FX options market
Analysis of transaction data shows record notional volumes for some G10 pairs
For FX dealers, virus brings volumes
Mixed feelings for sell-side traders as Covid-19 spurs wave of speculation and hedging
Dealers turn to mid-cap and EM deal-contingent trades
Premiums of more than 25% are attractive to banks battling low vol and increasing competition
For FX vol, think globally, but act locally
Country-specific stories are where to look for volatility, writes Fenics
FX options see record volumes as yen goes off-script
Coronavirus outbreak and recession fears trigger frenzied trading in USD/JPY options
Who killed FX volatility?
Beyond central bank policy, traders see a range of hidden structural factors at work
Algos: choosing the right horse for the right course
Liquidity and volatility regimes play big role in performance, BestX quants show
Morgan Stanley FX loss leaves ill-feeling, questions in wake
Options traders saw odd quotes by US bank months before losses were publicised
LMAX: bitcoin to break $30,000 in 2020
Exchange head David Mercer foresees more transparent market, freed of “pariah” of last look
JP Morgan: beating lower margins, flat volumes and the competition
Foresees collaboration with clients and technology providers on FX tech infrastructure, and working with regional players