News
Artificial intelligence in FX ‘may be hype’
Relevance for AI in foreign exchange does not stack up compared with other classes
Westpac: pound rally to continue as hopes for Brexit breakthrough rise
As polling leans towards Conservative majority, the bank warrants outright long cable positions and expects pound surge
Brazil sells dollars as real falls to record low
Currency declines 11.3% against dollar since July, as central bank cuts interest rates by 150bp to new low of 5%
Credit Suisse hires Fuligni in FX sales
Hire comes as Swiss bank invests in platform and markets franchise
Oanda bolsters leadership team
Mark Chesterman named head of trading, Kurt vom Scheidt becomes chief operating officer
Call for clarity on last look rejections
Asset managers say holding periods “far in excess” of what is necessary for risk checks
First all-RFR cross-currency swap traded
Goldman Sachs and Morgan Stanley strike landmark €STR v SOFR trade
Avelacom adds multi-cloud connectivity for crypto traders
Direct links set up in each location “jump” from points of presence to a cloud in under a millisecond
Focus on cross-border payments, not CBDC – Bundesbank
German central bank board member says prioritise “fast and efficient” payment network over digital currency
Price changes expected as uncleared margin rules bite
Panellists urge buy side to install lifecycle management tools to calculate margin and reconcile payments with brokers
Global head of FX Karlsson leaves Danske Bank
Amid a recent slew of FX layoffs, he exited the bank in November
Buy-side traders cannot be passive with algo execution
Traders need to be proactive and ensure in-depth monitoring throughout life of an order, panellists say
360T launches streaming NDFs
Technology is designed to facilitate entry of bank algos into growing non-deliverable forwards market
SVB Financial Group invests in TickTrade Systems
Parent company of Silicon Valley Bank partners Toronto-based fintech to strengthen FX offering as client base goes global
Singapore may allow trading in bitcoin-based derivatives
MAS opens consultation on proposal to allow trading of “payment token derivatives”
Interest-bearing CBDCs could solve welfare trade-off – IMF paper
Making CBDCs interest-bearing would avoid dangers to cash use or bank deposits
Labour’s tax on UK FX trades lambasted
Opposition party’s pledge to tax FX “50% of transactions costs” will hit jobs and investment, claim trade-cost experts
JP Morgan trader Aiyer guilty of price-fixing conspiracy
Akshay Aiyer is second currency trader to be convicted in US’s ongoing probe into FX market
Winners of the FX Week 2019 Best Banks Awards
The awards acknowledge excellence in foreign exchange
iBanFirst expands with NBWM acquisition
More than 1,000 clients will gain access to a variety of FX products and services
Hamberger to head e-FX at Credit Agricole
The bank's former global e-FX product manager is promoted
Credit Suisse uses neural nets to call minute-ahead FX
Bank encases AI in ‘control framework’ to curb risk and will stick to micro timeframe for now
Crypto assets may force central banks into policy synchronisation
Paper examines the impact a global crypto asset would have on the “impossible trinity”
Argentina’s currency controls help stabilise peso and reserves
Uncertainty about the fiscal policies of the incoming president is contributing to falling bond prices