Trading
FX algo users change tack to navigate market doldrums
BestX data finds traders ditching TWAP in favour of more opportunistic execution styles
Dealers bruised by surprise renminbi vol surge
Rush to re-hedge USD/CNH exotics left banks in grip of painful short gamma squeeze
HSBC loses FX forwards market share with EU funds
Counterparty Radar: UK bank reported 6% drop in notional volumes with Ucits funds in H2 last year
Bitcoin ETFs drive demand for borrowing in crypto markets
Mismatch between cash and crypto settlement cycles creates pre-funding challenge
Traders flipped long yen vol ahead of global market rout
Hedge funds and real money bought long yen volatility in the run-up to Monday’s turmoil
Barclays global head of eFX trading joins FMX
Shterenberg previously held senior algo execution and G10 FX trading roles
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
Senior G10 trader Agaisse leaves Barclays
Agaisse previously held top FX spot roles at Deutsche Bank, Mizuho and UBS
Survey: FX swaps e-trading sees greater client sophistication
BofA study shows increasing electronic trading of derivatives as users embrace MDPs and APIs
Franklin Templeton steps back into FX options
Former biggest user of the instrument among US mutual funds returns with $7.6bn of USD/JPY strategies
Argentina sells dollars in parallel FX market
Domestic currency’s CCL value jumps as central bank tightens monetary supply
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
Fee compression threatens FX algo innovation
e-FX Forum: Bank algo heads say continued revenue pressures could stifle development
FX options’ MDP migration
Volumes on multi-dealer platforms are climbing, but dealers warn pricing may not be optimal
The evolution of the sell-side front office: FX options
smartTrade is observing a significant trend among its clients and prospects: banks are increasingly enhancing their sell-side front office offerings by incorporating more sophisticated products such as FX options into their end-client solutions
BofA extends ‘guaranteed rate’ window to a year
US bank holds spot FX rates for longer period to give alternative hedging tools to smaller clients
What T+1 risk? Dealers shake off FX concerns
Predictions of increased settlement risk and later-in-the-day trading have yet to materialise
Morgan Stanley shoots into FX options dealer top spot
Counterparty Radar: US mutual funds added $11.1 billion in new positions in Q1
Keys to the kingdom: dealers open doors to passive trades
Banks provide entry to internal exchanges and principal trading desks
MMF margin adoption needed to boost tokenisation efforts
Instruments must be more widely accepted as initial margin for new tech initiatives to take off, says JPM exec
Pimco doubles down on FX forwards trades in Q1
Counterparty Radar: Pimco accounted for nearly 60% of all notionals added by mutual funds
Cuts and points – how the Dealer Rankings work
Dealer Rankings 2024: We have a simple way to compare dealers. Sort of simple, anyway
BNPP and BofA top this year’s FX Markets Dealer Rankings
Both banks prospered with US mutual funds, while Morgan Stanley remained top counterparty for life insurers