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Market weighs viability of spot FX clearing
Supporters believe it could remove credit risks, but others say it would be unnecessary and add costs
Goldman brings ‘self-service’ pre-trade analytics to FX options
Mobile-based tool allows users to structure and price trades dynamically using data from the cloud
SGX launches new Clob for FX spot and NDFs
CurrencyNode to tap into new matching engines in Singapore, and eventually will look to offer futures-spot spreads
Quotes
It’s not obvious to me what MSIM would be hedging ... but $150 million in premiums is pretty massive
A trader at one US hedge fund
Just because the FX carry strategy is picking up performance doesn’t mean it’s back on a persistent basis
Umberto Alvisi, head of quantitative investments at Millennium Global
There are probably going to be five single dealer [platforms] that continue to exist. Outside of that, [the others] cannot make enough money
FX executive at a large US bank
HSBC claims top FX forwards spot as US banks fall back
HSBC has become the top foreign exchange forwards dealer for US mutual funds, leaping from fifth spot to first in the second quarter of 2022 on the back of a surge of trading with Pimco and reduced trading at some of its US rivals. Despite the recent rise in FX volatility, the overall market declined by more than $133 billion to $920 billion over the quarter – down from $1.05 trillion in Q1.
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Editor's choice
Editor's choice
Margin costs leap on Simm rejig and rates hikes
Acadia finds roughly one-third jump in exposure following Simm recalibration, with higher funding costs adding to burden
Trendlines
Big Figure
Growth and stability
After enduring a turbulent period in 2018 and 2019, when Invesco suffered damaging fund outflows and its share price underperformed rivals, the outlook for the asset manager has stabilised. Assets under management at Invesco have returned to growth and stood at $1.4 trillion in March, a 20% increase in the last 12 months.
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