News
The world’s largest bitcoin fund has a tracking error problem
Grayscale Bitcoin Trust moved from trading at an average premium of 36.5% to an 11.6% discount
ECB pushes for greater crypto asset powers
Central bank suggests changes to afford it greater oversight of e-money issuers
Brazil ramps up FX interventions to defend real
Governor Campos Neto says fall “is not justified by fundamentals”
State Street to look after bitcoin, just don’t call it custody
The second-biggest custodian will provide “record-keeping services” for the unregulated asset
Foreign corporates rally round new Thai baht hedge rules
Cheaper onshore pricing draws non-Thai corporates to Bank of Thailand’s new FX hedging scheme
CFTC urged to take lead on CCP margin models
Advisory committee unable to agree steps on margin period of risk, model transparency
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
Has Covid stopped the clocks on FX timestamp efforts?
Budget reallocation may not be the only factor stalling standardisation progress, say participants
First P2P trade completed on Siege FX
Dark pool aims to match algo orders among its 30 buy-side clients
Growing internalisation could threaten price discovery, say LPs
Dealers might have to deliberately hedge on venues to bolster data, says Credit Suisse’s Estrada
Japanese lifers boost FX hedging as new capital rules loom
Banks expect insurers to pile on long-dated JGBs and USD/JPY cross-currency swaps
Industry bodies mull reform of disruption fallbacks
Following Argentine peso debacle, GFXC and others seek alternatives to fallback protocol
Digital Vega, Spark deal hints at wider shake-up for platforms
Two trading tech firms seek point of difference as dealers cull vendor relationships in cost-cutting drive
Banks nervy over GFXC plan for algo cover sheets
Disclosing inner workings of algorithms could result in loss of intellectual property, banks warn
China tightens regulations on non-bank payment firms
Central bank will scrutinise payments more closely and fine firms for rejecting cash
Optiver becomes first non-bank options market-maker on FXall
Dutch e-trading firm joins OTC FX options platform in a market taking electronic baby steps
A peek inside GFXC’s algo cover sheets
Order priority and segregation policy among the items under discussion
Citi extends lead in FX forwards, BNP Paribas climbs
Counterparty Radar: Total value of forwards positions jumps 11% after second-quarter dip
Bank of Israel announces major increase in FX interventions
Central bank announces FX spend in advance for first time and pledges 40% increase
Capitolis signs data deal with CLS
FX optimisation service to use settlement utility’s data to help boost efficiency
PBoC eases cross-border yuan settlement policy
Central bank promotes use of yuan in cross-border settlement and financing
Dealers drag their feet on NDF clearing, say prime brokers
Trade mismatches and other wrinkles hinder clearing between executing broker and prime broker
Thai central bank relaxes FX rules to curb currency’s strength
Central bank says it is considering further liberalisations to currency regime
Isda plans separate workstream for currency disruption provisions
Industry body to exclude update from 2020 definitions