Articles by Lukas Becker
Platforms on edge as industry eyes progress of Currenex case
Lawsuit’s passage through US courts could determine whether copy-cat filings follow
FX hedge ratios fall across top 10 US managers
Counterparty Radar: Proportion of forwards to assets has been sliding since Q3 2020, but some firms buck trend
Morgan Stanley bests Citi as top forwards shop for US funds
Counterparty Radar: A $30bn boost from Vanguard sends MS to top of Q2 charts
GFXC confirms zero hold times in last look
Chair says checks can’t be used to monitor client market impact – a “game changer” according to some
Algo sniffers make a tough business tougher
FX spot is already a hard game for many LPs, and the rise of skew sniping only makes things harder
Could prime of primes go pop?
The PoP market is booming, but some tier one banks are wary
Is this FX futures’ big moment?
Exchanges eye big opportunity for their FX futures offerings as initial margin deadline looms
Price advantage could spur buy-side clearing, says Goldman exec
Margin savings alone may not be enough to boost buy-side use of CCPs
Jumbo trades propel BNPP, TD up forwards rankings
Counterparty Radar: In Q1 2021 data, outsiders are eating into US banks’ business with domestic funds
LSEG buyout finally unshackles Matching and FXall
After watching the market evolve around them, platforms can finally get on the front foot
Vanguard, FX forwards kingmaker
Counterparty Radar: How the fund giant influenced banks’ overall forwards fortunes in 2020
Tighter RMB rates basis brings new hedging opportunities
Increasing alignment between CNH and CNY benchmarks opens door to more cross-currency hedging by foreign lenders
Drax commits to ESG-linked FX derivative targets with UK banks
Renewable energy supplier applies long-term ESG KPIs to short-term FX trades with Barclays and NatWest
Citi extends lead in FX forwards, BNP Paribas climbs
Counterparty Radar: Total value of forwards positions jumps 11% after second-quarter dip
FX vol markets shrug off US election fears
Vols are trading below their pre-election levels despite uncertainty over result
On dealer and currency choices, big US funds differ
Pimco, Vanguard and other fund giants account for up to 60% of forwards trades – but have very different hedging needs and dealer panels
Kaufmann joins NatWest as FX structuring head
UK bank hires former UBS and Barclays structuring chief
Filings reveal biggest FX forwards dealers
Counterparty Radar: Group of four banks executed 47% of sector’s trades during second quarter
Peer-to-peer is not a zero-sum game
Some mistakenly talk of P2P as taking over the swap market, but it will be more of an accompaniment
How Shell integrated FX algos into its corporate treasury mix
Interview: oil giant puts up to 50% of spot flows through algos, explains FX head Michael Dawson
Barclays targets internalisation with new NDF algos
UK bank’s five algos aim to match-off more flow than G10 pairs
Games of tag need to end
Growing focus on platform disclosures should spur more transparency
A gradual return from shorts to suits
Market moved to home-working for resilience – it may linger for convenience
Inside March madness with Citi’s Tuchman
Interview: Trading rooms went virtual, central banks stepped up – but some platforms flopped