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BofA, HSBC pick up Risk.net awards
- Bank of America picks up currency derivatives house of the year from sister publication Risk.net, for the build-out of its emerging markets business. The bank retooled its desk to better manage options EM flows in the year of the carry trade and focused on corporate client flow to boost its ability to recycle risks.
- HSBC was named prime broker of the year thanks to its work on incorporating interest rate risk into the margin calculations for FX options. The standard net open position measurement ignores certain rate risk exposures in calendar spreads – but the bank’s new approach gave the PB confidence to take on more client exposures.
More, not fewer, FX platforms perplexes dealers
Predictions of consolidation have been wide of the mark
Citi’s head of FX electronic platforms departs
Ala’a Saeed, who oversaw its single-dealer platform, leaves US bank
FX HedgePool launches all-to-all FX swaps matching
P2P platform starts daily matching and opens up to banks, hedge funds and ECNs
How corporates are tooling up for FX risk
Unstable markets have forced corporate treasurers to adopt whizzier methods for managing currency exposures
Traders, vendors seek to modernise chronically underinvested FX tech
The average FX professional uses eight applications at any one time, but integrating workflows is a daunting task
Editor's choice
Electronic FX swaps execution advances on 360t
Sun platform could help banks auto-hedge and develop algo execution for the instruments
Bloomberg deploys new chatbot tool to Terminal
Offering allows users to surface data and notifications from internal systems without leaving Instant Bloomberg chatrooms
Buy-siders bemoan ‘dark arts’ of corporate bond CSA discounting
Litany of pricing variables fuel wide differences in how dealers calculate discount rates for collateral agreements
Corporate-focused banks see boom in FX trading volumes in H1
US banks report higher FX swaps and forwards volumes from corporates as SA-CCR effect wanes, BCG research shows
Counterparty radar
StanChart sees big uptick in FX options positions
Counterparty Radar: UK bank benefits from MSIM trades as market for US mutual funds expands in Q2
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Firms seek optimisation gains as UMR and SA-CCR bite
Best FX overlay manager: State Street
Technology trends in capital markets: transforming the sell-side FX front office
Best settlement initiative: CLS
Best single-dealer platform: Citi
Best connectivity, hosting and co‑location service: smartTrade Technologies
Best liquidity aggregation service: oneZero
Best exchange for FX: CME Group
FX house of the year, Malaysia: OCBC Bank (Malaysia) Berhad
