Articles by Lukas Becker
New hope for crypto derivatives as markets urged to hail CESR
Ethereum staking index could allow swap curve and structured products to develop
Buy-side firms eye perks of being a liquidity provider
Larger players increasingly see themselves as LPs and are asking for more in return
Why KfW revived an old idea for cross-currency collateral
Transport currency concept re-emerges at SwapAgent, but dealers warn of hidden FX risks
CVA desks avoided re-hedging as Credit Suisse teetered
As credit spreads blew out, dealers opted not to adjust rates and FX risks
Eurex eyes flexible FX futures
German exchange plans second-half launch in bid to attract users looking for swaps alternatives
Crypto gets to grips with interest rate swaps
New derivatives provide synthetic access to staking yields and are being used in structured products
Deutsche adds three to FX sales team
German bank recruits institutional sales head in New York, along with hires in London and Paris
Review of 2022: the return of volatility
Russia and the Fed set markets ablaze, while SA-CCR shook up FX swaps
FX settlement risk grows again in latest triennial survey
BIS also finds falling market share on primary venues and more internationalisation of emerging currencies
Isda docs saved crypto startup that lent to Alameda
Early termination clause allowed Cega to recover $13.6 million in loans to failed trading firm
Crypto structured products come of age
After some growing pains, the space now offers the type of structures seen in TradFi equities markets
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
Will last look disclosures come to FX derivatives?
JPM and NatWest have published their swaps and options last look windows – will others follow suit?
Market braces for end of Russia central bank sanctions carve-out
Isda AGM: general licence expires on May 25, threatening bond payments and deliverable ruble settlement
Emta facing calls from FX industry for alternative RUB fixings
Sources also concerned about Ukrainian NDF fixing, which hasn’t changed since invasion began
‘Dead’ derivatives market leaves big Russia dealers unhedged
VTB and Sberbank face directional exposure to local corporates after mass unwinds by foreign banks
Banks, prime brokers and trading venues shun ruble trades
FXPBs turn away derivatives bets as spot platforms block ruble trades and NDF fixings go dark
Wells Fargo adds Asia FX trading and sales heads
Weeli Goh joins from TD to head Asia FX trading; Yash Biswas moves from NatWest to run sales
Anonymous venues could do more on last look
Platforms could reduce max response times to encourage eradication of additional hold times
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