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It’s not easy being green: why the FX market is lagging on ESG
And what’s being done to fix it
Stick to the fax? Isda seeks to revamp close-out notice methods
Plans to update termination notice provisions still won’t quite pull the plug on use of fax machines
Deutsche adds three to FX sales team
German bank recruits institutional sales head in New York, along with hires in London and Paris
Quotes
The market in the custodian space is ripe for transparency
Nick Pedersen, NatWest Markets
The current two-way volatility in the USD/CNY has genuinely increased the necessity of hedging FX risk
Kiyong Seong, Societe Generale
The skew (risk reversals) moved a lot, so the price for a downside went up very significantly
Francesco Schiavo, Credit Suisse.
Morgan Stanley dethrones HSBC from FX forwards top spot in Q3
Morgan Stanley regained its position as the top foreign exchange forwards dealer for US mutual funds in the third quarter of the year, dethroning HSBC on the back of a surge in trades from Pimco. Overall, US mutual funds shrunk their positions, with the sector declining by around $37.2 billion. Despite that, Morgan Stanley had $106 billion of reported volumes in Q3, up $20.7 billion on the previous quarter.
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Editor's choice
Editor's choice
Review of 2022: the return of volatility
Russia and the Fed set markets ablaze, while SA-CCR shook up FX swaps
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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