Trading
Banks set aside more than $6 billion for FX fines
Large currency dealing banks prepare to draw a line under the global regulatory probe into currency markets as they brace themselves for fines
Dollar bull run threatens corporate earnings
The days of not hedging earnings risk are over for many corporates, according to banks and treasurers, with the dollar's strength and more international trade set to be the catalyst
Surge in RMB payments between offshore centres
Share of RMB activity for international payments between offshore hubs reaches 3.25%, and usage grows for payments, FX and trade finance
Stock connect to boost CNY as portfolio inflows could double
CNY is set to be the only Asian currency to rise against the USD next year, on the back of growing overseas investment and the PBoC's reluctance to weaken the currency to boost growth
Fair and Effective Markets Review launches Ficc consultation
UK regulators publish a consultation document seeking feedback from participants on how to restore confidence in fixed income, currency and commodity markets
BNY Mellon chooses Singapore for new FX dealing room
Keon Ho Kang leads a nine-strong team focusing on G-10 currencies as BNY Mellon looks to tap increasing demand for FX in Singapore
Spot-on call on euro fall puts CIBC on top
While expecting ongoing euro weakness, the bank had already anticipated the ECB expanding its balance sheet. Therefore, it felt it unnecessary to lower its EUR/USD forecast
Non-bank market-makers step into the breach as banks turn to agency
Buy side continues to worry about the reliability of non-bank market-makers, despite their presence during a technical glitch and volatile trading times
Patten and Jones cash in on Liquidity Pool sale to Xenfin
Former Mako FX platform taken on by technology firm
Standard Chartered creates new head of RMB sales role
Zhou Cheng Gang to lead development of RMB capabilities
Investment managers ramp up leverage with NDFs
Both pension and mutual funds have become increasingly interested in the higher leverage achievable on cash-settled products compared to physically-settled derivatives
More currency floors a possibility in deflation fight - HSBC
Deflationary pressure is the key driver of potentially new currency floors in European currencies, says Bloom
GFI board to review BGC buyout offer
Board still states preference for pre-existing CME deal
Buy side joins calls for delay to NDF Sef trading
NDF trading should not begin on Sefs until rates and credit issues are resolved, say market participants at Risk USA
Benchmarking fines could cost banks $40 billion, says Citi
Analysts believe the impact is already priced in as Ficc revenues rise
FXSpotStream finds niche in cash-strapped times
Intense focus on cost cutting has benefited multibank aggregator service FXSpotStream, which is on course to introduce streaming for forwards from November 30
How volatility eats itself and why everyone should care
Helen Thomas, author of popular financial blog Blonde Money (http://blondemoney.co.uk/helen-thomas/) says the market is set for a serious pick-up in volatility
Esma kicks off NDF-clearing consultation
Timeline for implementation still vague, with options clearing also lagging
BBVA wins with upbeat view on US economy
The US dollar should extend its gains as the economy takes off in contrast to other major developed economies
Product launches, October 20, 2014
Swissquote unveils information portal, Caplin systems publishes white paper on mobile trading, and more
FX Focus - Corporates accused of pricing complacency
Corporates are in a pricing ‘nirvana’ at the moment. Hedging is cheap, transparent and easy, but how long will this last? Some treasurers have concerns over complacency towards the impact of market volatility, while regulatory reform could push up prices…
FX Focus - No corporate love for Clobs
Corporates have yet to yield to the charm of central limit order books, as regulatory pressures and pricing issues keep them tied to the request-for-quote model. Meanwhile, swap execution facility liquidity is improving, but worries over market…
FX Focus - Editor's Letter
Senior corporate treasurer warns current 'nirvana' in corporate hedging costs is coming to an end
Electronic trading grows tenfold in some EM currencies
Delegates at the FX Week Asia conference in Singapore heard about the challenges and opportunities Asian electronic trading offers