Trading
NDF access will help tame rupee volatility, say dealers
Lifting of restrictions stopping Indian banks trading rupee NDFs allows RBI to intervene offshore
Banks trade first USD/CNY cross-currency swap versus SOFR
Risk-free rate sets new milestone with Crédit Agricole and Bank of China’s $10m trade
Statisticians grapple with inflation impact of Covid-19
Collecting reliable inflation figures during lockdown is not straightforward
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
How Goldman’s algos adapted to virus vol
Interview: Ralf Donner explains why algo usage is up while markets are down
Philippines traders shrug off mid-month jitters from Covid shutdown
March’s pricing blip was a tremble, not a quake, in a market used to disruption from natural disasters
How carbon-cutting Drax manages currencies and credit
Interview: UK power giant uses option selling – and other tactics – to create hedging headroom
FX swap users hope to avoid month-end crunch
Blowout in spreads prompted SSGA and other managers to limit need for hedges on March 31
FX vol revived by Covid-19 – but for how long?
Traders split on whether virus impact or central bank responses will prove most powerful
ESG-linked hedges raise interest – and questions
Carrot-and-stick trades pay off if green targets are hit, but setting and monitoring those goals is tricky
In choppy FX markets, algos buck expectations
Goldman, Nomura and others report increased volumes, although some clients revert to principal quotes
For FX dealers, virus brings volumes
Mixed feelings for sell-side traders as Covid-19 spurs wave of speculation and hedging
India exchange to debut rupee derivatives settled in US dollar
Launch of onshore futures and options unlikely to dent offshore volumes, though
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
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
First SOFR versus CORRA cross-currency swap hits market
JP Morgan and National Bank of Canada extend SOFR cross-currency trading into Canadian market
Vanguard takes the P2P plunge
Interview: Andy Maack seeks to lower costs and dealer dependence via buy-side matching
Morgan Stanley FX loss leaves ill-feeling, questions in wake
Options traders saw odd quotes by US bank months before losses were publicised
Investment Association calls for standardisation of FX reject codes
The 13 new high-level categories will allow rejection causes to be remedied quicker
Average reported daily UK FX turnover hits record high
Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April
FX HedgePool goes live with three buy-side firms
Two US buy-siders trade with European firm on peer-to-peer utility created for them to source liquidity from each other
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads; Q1 GDP growth could drop to 4%
Spot volumes on platforms resumed downward trend in 2019
But an uptick was seen in FX swaps and forwards submitted for settlement