News
European banks bolster US FX sales coverage
New hires come as BNPP and Deutsche Bank leapfrog US dealers on FX forwards
Banks urge Singapore to relax exposure limit on crypto assets
Lower capital for tokenisation and stablecoins welcomed, but cap will curb bank involvement for now
Dealers shun yen barriers after joint US-Japan action
Market-makers retreat from exotic structures amid intervention risk, with funds in wait-and-see mode
Chinese exporters step up FX sophistication
Onshore corporates traded record FX options volumes in June and are tapping experienced bank traders
US buy side flocked to FX forwards and options in Q1
Counterparty Radar: Pimco led $187 billion rise in forwards notional among funds, while TIAA drove insurer activity
BoE’s Lintern steps down as head of FX
FX division will now be steered by Ankita Mehta, most recently head of cross-firm analysis and supervision
Nomura weighs launching own stablecoin
Bank says issuing its own token is on the table, but wants to use stablecoins as a customer first
Hong Kong hedge fund taps Natixis’s senior Apac FX trader
Michael Rothlin joins as chief investment officer for macro strategies
MSIM retools renminbi options wager
Counterparty Radar: US manager rebuilds USD/CNH call book to $15.7bn with strikes closer to spot and cheaper premiums
CLS to launch CNH PvP settlement service
Plan will involve settling offshore renminbi in Hong Kong via a separate PvP session
Fragmented rules obstruct tokenisation efforts, panellists say
Divergent US, UK and EU stablecoin rules and legal protections limiting cross-border growth
SocGen FX forwards trading rockets with US fund managers
Counterparty Radar: Surge in French bank’s FX forward volumes propels it to second spot in Q1 2026
Yen options dealers struggle to hedge intervention risk
Hedge funds’ bets on BoJ intervention are leaving dealers with vol-surface exposures they can’t hedge cheaply
Europe ‘lagging behind’ US in crypto markets
Mica made Europe first mover, but rapid US adoption leaves the region trailing, market participants say
FactSet’s Portware expands to tackle complex FX
EMS vendor eyes automation for high-touch FX trades while adding connectivity to new venues
XTX Markets’ US sales head joins rival IMC Trading
Benjamin Klixball takes up new role at Dutch prop trader in New York
Doubts swirl over future of FX cartel case
Group of banks accused of manipulation have filed for the class action to be dismissed
Jane Street taps former Barclays e-FX trader
Latest hire comes as HFT firm expands spot FX market-making activities
Industry calls for Hong Kong T+1 delay amid congestion fears
Q4 2027 alignment with Europe and UK transition raises operational risk concerns
Macro trader Breakwell swaps Millennium for Point72
Scott Breakwell joins hedge fund in Sydney as Aussie rates and FX heats up
Canada joins central banks’ multi-currency blockchain project
Work advances on Project Agorá but ledger governance questions unanswered