FX structurers take advantage of high-cost hedging in other asset classes
Throughout 2012, FX structurers sensed a shift in the balance of power on the trading floor. They looked forward to a time when buy-side participants, forced out of other asset classes by high hedging costs, would migrate onto their deal books. FX is the future, they insisted. It would steal a march on asset classes made bloated and unwieldy by clearing requirements and higher capital costs.
One year on, and this prediction may prove to be well-founded. FX structuring desks at European and US
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