FX Markets - Dec 2020

• Our take

FX settlement risk: good news at last

Industry utility CLS could finally be given the scope to tackle a growing risk in foreign exchange

• 04 Jan 2021

• Trading

Banks explore ESG-linked deal contingents

Trend for tying derivatives to ethical criteria could soon extend to deal contingent hedges

• 24 Nov 2020

• Infrastructure

MAS unveils renminbi funding for banks in Singapore

New funding scheme of up to 25 billion yuan replaces overnight funding facility

• 26 Nov 2020

• Infrastructure

Regulators voice concerns over cloud risk

Risk USA: failure of big cloud service provider could cause “a very large shock”, says NY Fed exec

• 19 Nov 2020

• Infrastructure

SA-CCR switch clouded by confusion over netting sets

An effort by US regulators to incentivise the switch to SA-CCR may be having the opposite effect

• 27 Nov 2020

• Infrastructure

BoE needs ‘better handle’ on control of UK currency

Lawmakers highlight the UK’s disjointed cash management, which could put consumers at risk, they say

• 08 Dec 2020

• Trading

Cross-currency swaps will use RFRs on both legs, says JPM exec

Despite slow start, all-RFR swaps will become the market standard within a year, according to Tom Prickett

• 10 Dec 2020

• Regulation

EC looks to GFXC on potential regulation of spot FX

GFXC to meet this week about revising global FX code, which may influence European legislator stance

• 07 Dec 2020

• Tech and data

Project Helvetia proves central banks can use tokenised assets – BIS

Benoît Cœuré says project marks “the beginning of the further evolution of central banking”

• 10 Dec 2020

• Trading

Machine learning will create new sales-bots – UBS’s Nuti

Technologists working to automate indications of interest from trading desks

• 10 Dec 2020

• Regulation

Liquidity, regulation and the FX Global Code – Non-bank FX in 2021 and beyond

As 2020 – a year that will undoubtedly remain etched in the memories of many for a long time to come – draws to a close, Richard Elston, group head of institutional at CMC Markets, explores the key themes he sees emerging across the non-bank FX community…

• 16 Dec 2020

• Infrastructure

CLS: can’t live with ’em, can’t live without ’em?

FX settlement giant not fast on its feet, say dealers and challengers, but hard to knock down

• 09 Dec 2020

• Trading

Asia’s FX markets step to the algorithm

Buy-side use of automated trading programs builds, albeit from a low base

• 23 Nov 2020

• Trading

Strike a pose: deal contingents back in vogue after mid-year slump

M&A revival breathes life into deal contingent trades, but elevated risk keeps prices high

• 01 Dec 2020

• Trading

Why central banks aren’t worried about FX algos – for now

Disclosure failings feed into FX code; other issues are worrying, but distant, says SNB’s Maechler

• 03 Dec 2020

• Regulation

Public policy lines blur: implications for reserve managers

Crisis-fighting has pushed central banks into new forms of risk-taking, which is impacting reserve managers

• 19 Nov 2020

• Awards

FX Markets Best Banks Awards 2020: The winners

Citi takes 12 categories, including best bank for FX; HSBC follows with six wins

• 11 Dec 2020