FX Markets - Apr 2022
See below for a full listing of the articles in the April 2022 issue of FX Markets, or click here to download the PDF.
Articles in this issue
Russian ruble trading steps back in time
Wild spread swings see offshore RUB market and electronic trading disappear
Russian invasion stirs up ‘perfect storm’ for XVA desks
Declining credit quality of Russian companies and spike in inflation threaten CVA and FVA double-whammy for banks
Currenex and LPs move to dismiss class-action lawsuit from US
Defence lawyers say XTX is trying to dodge agreements that it would settle any complaint in UK courts
FX class action case to go ahead on opt-in basis
Firms will have to sign up to US-style class action against six banks accused of FX manipulation in UK
Crypto industry faces ‘fork in the road’ over sanctions
Bow to policy-makers’ concerns about sanctions evasion or face reputational damage, says LSEG’s Schwimmer
OTC nickel contracts stuck despite trading resumption
Contracts still unable to settle using new prices, but Isda solution may solve the issue
Citi names Stuart Staley FX co-head
US bank’s Asia-Pacific markets head moves to London to work alongside Itay Tuchman
Pimco, Franklin Templeton affiliates top for Russia derivatives exposure
Counterparty Radar: Funds had biggest long exposures to Russia across credit, rates, FX at end of Q4
Emta facing calls from FX industry for alternative RUB fixings
Sources also concerned about Ukrainian NDF fixing, which hasn’t changed since invasion began
Capitalab co-founder quits firm
David Bachelier leaves BGC-owned compression venture after seven years
Offshore waves: how the ruble is becoming a painful trade
As liquidity dries up in markets affected by sanctions, trading is shifting from electronic venues
Electronification allows Singapore to take on the world
SG1 data hub enables city-state to consolidate its position as key centre for trading
Optiver aims to gatecrash FX options private party
Dutch non-bank hopes to exploit shift to electronic markets in OTC options, following record $7bn trading day