FX Markets - Dec 2020
See below for a full listing of the articles in the December 2020 issue of FX Markets, or click here to download the PDF.
Articles in this issue
FX settlement risk: good news at last
Industry utility CLS could finally be given the scope to tackle a growing risk in foreign exchange
Banks explore ESG-linked deal contingents
Trend for tying derivatives to ethical criteria could soon extend to deal contingent hedges
MAS unveils renminbi funding for banks in Singapore
New funding scheme of up to 25 billion yuan replaces overnight funding facility
Regulators voice concerns over cloud risk
Risk USA: failure of big cloud service provider could cause “a very large shock”, says NY Fed exec
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
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
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
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
Project Helvetia proves central banks can use tokenised assets – BIS
Benoît Cœuré says project marks “the beginning of the further evolution of central banking”
Machine learning will create new sales-bots – UBS’s Nuti
Technologists working to automate indications of interest from trading desks
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…
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
Asia’s FX markets step to the algorithm
Buy-side use of automated trading programs builds, albeit from a low base
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
Why central banks aren’t worried about FX algos – for now
Disclosure failings have been fed into review of FX code; other risks are profound, but distant, says Andrea Maechler
Public policy lines blur: implications for reserve managers
Crisis-fighting has pushed central banks into new forms of risk-taking, and this is now spilling into reserve management, says Jennifer Johnson-Calari
FX Markets Best Banks Awards 2020: The winners
Citi takes 12 categories, including best bank for FX; HSBC follows with six wins
