Infrastructure
NatWest bridges FXPB and clearing for regional banks
New model maintains traditional OTC market access with added direct clearing option
CLS to launch CNH PvP settlement service
Plan will involve settling offshore renminbi in Hong Kong via a separate PvP session
Beyond FX HedgePool: what’s next for all-to-all?
Proponents see bright future for trading model, but obstacles to take-up remain
Fragmented rules obstruct tokenisation efforts, panellists say
Divergent US, UK and EU stablecoin rules and legal protections limiting cross-border growth
Dealers split on best path to electronically hedge FX swaps
IDB costs see banks eyeing Clobs and dark pools, but traders say brokers still have their charms
Deutsche Bank takes on custodians with automated FX service
The service aims to deliver a 90% saving for asset managers on their operational FX execution
Electronification hopes rise for FX swaps
Are swaps dealers finally getting out of first gear in the move towards e-trading?
Canada joins central banks’ multi-currency blockchain project
Work advances on Project Agorá but ledger governance questions unanswered
LSEG’s FXall to launch credit-intermediated FX forwards service
Split Risk to allow buy side to tap best spot and swap prices to create forwards, and unbundle market and credit risk
DB eyes regional bank algo boost from smartTrade tie-up
German bank expects number of banks using its hedging algo suite to double following aggregator integration
Crypto for normies: EDX puts old twist on new asset class
Citadel-backed venue applies trad risk concepts to digital assets – now it’s trying to snag the banks
Russell’s flexi hedging aims to tame jumpy yen
Japanese clients can dynamically switch hedging profile based on USD/JPY movements
CME outage sparks FX soul search
How November’s halt exposed fragile wiring of new futures-led market structure
CME outage exposed FX market’s futures dependency, says SNB
Study finds EUR/USD spreads widened eightfold as non-bank PTFs blew out by nearly 30 times in November halt
Forex looks to flip the (stable)coin
Friction-free foreign exchange is the prize offered by stablecoins such as Tether and USDC. But the prize remains elusive
JP Morgan gives corporates an FX blockchain boost
Kinexys digital platform speeds cross-currency, cross-entity client payments
Market-makers seek answers about CME’s cloud move
Silence on data centre changes fuels speculation over how new matching engine will handle orders
FX options API trading takes off at quant hedge funds
Systematic players behind surge in direct execution, say dealers
FXSpotStream expands into US Treasuries trading
Bank-owned streaming venue targets mid-year launch, offering “all you can eat” subscription fees
Why FX liquidity is harder to read than ever
A breakdown of FX execution methods shows how liquidity is truly formed, writes Isomiq's Jamie Rose
SpectrAxe steps into FX forwards and swaps
US regulatory filings show options Clob is expanding into linear instruments