News
FX headwinds cancel out HSBC’s Q3 RWAs cut
Portfolio reductions reaped $10.8 billion of RWA savings
PBs seek remedy for credit addiction in FX
Group set up after big Citi loss considers limit-checking hub, among other options
Mifid best execution relief for buy side hangs by a thread
Largest grouping in European Parliament faces uphill battle to suspend RTS 28 reporting
On dealer and currency choices, big US funds differ
Pimco, Vanguard and other fund giants account for up to 60% of forwards trades – but have very different hedging needs and dealer panels
Kaufmann joins NatWest as FX structuring head
UK bank hires former UBS and Barclays structuring chief
Citi promotes Perkins and Wilson to top clearing post
US bank creates clearing co-head role in wake of Kemp’s retirement
UK’s FCA bans crypto derivatives for retail investors
FCA says retail crypto assets have no reliable valuation basis and could increase financial crime
Ex-Isda risk chief: ditch gross notional thresholds for clearing
10 years on, David Murphy says mandate should be rebased to exempt less risky firms
Argentina allows peso to fall faster
Central bank increases repo rate as currency falls and inflation rises, despite severe GDP contraction
ECB steps up research on ‘digital euro’
Central bank analysing both centralised and decentralised options for a digital currency
Filings reveal biggest FX forwards dealers
Counterparty Radar: Group of four banks executed 47% of sector’s trades during second quarter
Taiwanese central bank asks for smaller dollar trades
Large dollar orders may slow down foreign exchange transactions, central bank says
FX swap volumes set to rise on China govvies index inclusion
Traders expect greater use of FX derivatives if FTSE Russell adds bonds to the WGBI this week as expected
Euronext launches NDF trading in Singapore
Platform’s move brings spot-style execution methods to the non-deliverable market
Dealers divided over paring FX spot venue connections
Some liquidity providers aim to follow Citi’s lead and cut platforms, but others are wary
e-FX Awards 2020: The winners
Citi takes three categories in 18th annual awards; XTX picked as best LP for spot, while Goldman wins algo crown
AFM seeks ‘level playing field’ for venues and aggregators
Dutch regulator suggests some liquidity services should be classified as OTFs
LCH to accept Sing dollar bonds as collateral
Singapore’s banks hope move will ease margin funding burdens, and speed direct membership
Baton to launch payments system for emerging currencies
Fintech company joins efforts to tackle rising settlement risk
Integral goes live with new UX for FX platform
Seventh generation of single-dealer platform built on HTML5 to allow for more customisation
Nomura targets US in FX rebuilding effort
Return of volatility sees Japanese bank rehire in New York and focus global business on Asian pairs and FX options
Barclays targets internalisation with new NDF algos
UK bank’s five algos aim to match-off more flow than G10 pairs
Goldman signs up as NDF client clearer at LCH
US bank expecting jump in cleared trades when initial margin rules hit buy side
Facebook’s libra could disrupt collateral markets – IMF paper
Collateral used to back ‘stablecoins’ such as libra will be unavailable for reuse