News
FX options API trading takes off at quant hedge funds
Systematic players behind surge in direct execution, say dealers
SpectrAxe steps into FX forwards and swaps
US regulatory filings show options Clob is expanding into linear instruments
LatAm FX carry trade shrugs off geopolitical fears
Clients in regional carry positions remain undeterred by US interventions, say dealers
US mutual funds slash short euro positions at record pace
Counterparty Radar: Pimco cut $4.6bn of EUR/USD puts in Q3 amid changing stance on dollar direction
Nomura hires new global eFX head
Mark McMillan to oversee e-trading and sales activities in newly created role
Trump’s LatAm gambit spurs FX hedging rush
Venezuela op boosts risk reversals as investors look to protect carry trades
FXGO volumes surge despite fee introduction
Dealers split on whether levy is behind volume increases across SDPs
Kyriba sees uptake in AI-assisted FX hedging tools
Automated data collection and cleaning helps corporates create better hedges and has cut unexplained P&L moves by 87%, says vendor
US insurers turn to short-dated FX forwards as notionals rise
Counterparty Radar: Trades under three months make up nearly 60% of total positions, up from just a third in 2022
FX swaps price discovery challenges buy side, says Vanguard
Lack of transparent price validation data for FX forwards and swaps is holding back buy side, Vanguard’s head of FX says
Dealers warn of capital squeeze from increased FX hedging
Sharp rise in uncollateralised buy-side hedges could restrict banks’ ability to take on positions
Quants tell FX dealers how to make the most of passive liquidity
Paper from HSBC and Imperial sets out when to skew pricing, and when not
Dealer views mixed over future of profitable EM FX carry trade
Emerging market FX carry trades have generated 7.5% returns since April, but dealers question longevity
BIS points to ‘structural transformations’ in markets
Quarterly review cites higher volatility and gold losing its status as a safe haven asset
Banks scale back short-dated FX swaps trading, BIS finds
Interbank FX swaps hit by higher short-term hedging and funding costs, while longer-dated forwards activity jumps
MAS official flags risks in Asia’s path to T+1 settlement
Regulator says region faces “unique challenges” in establishing a shorter settlement cycle
CME futures outage caused FX spot pricing problems
At least one non-bank was forced to pull prices, and NDFs also affected
BofA, Reactive Markets pick up Risk.net awards
US bank wins FX house for performance during Liberation Day, while Reactive Markets takes OTC trading platform prize
Compression eases capital, risk bottlenecks amid CNH swap boom
Dealers say multilateral compression for yuan cross-currency swaps can increase trading capacity
NatWest retunes options tool to create, not hedge
Auto-hedging algo replicates non-linear exposures in spot for clients that can’t trade options
LSEG adds market risk optimisation for FX options
Tool attracts eight dealers and could be expanded to rates and equity options