FX Markets - July 2026
See below for a full listing of the articles in the July 2026 collection of FX Markets
Articles in this issue
Bank vs non-bank: FX’s two-tier reality
CME and LSEG data show banks provide sticky and broad liquidity, while non-banks cling tightly to the price
Beyond FX HedgePool: what’s next for all-to-all?
Proponents see bright future for trading model, but obstacles to take-up remain
CLS to launch CNH PvP settlement service
Plan will involve settling offshore renminbi in Hong Kong via a separate PvP session
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
Fragmented rules obstruct tokenisation efforts, panellists say
Divergent US, UK and EU stablecoin rules and legal protections limiting cross-border growth
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
How AI could reshape FX execution choices
Models can redefine transaction cost analysis and deliver ‘intelligent’ execution, writes BestX’s Yangling Li
At the deep end: FX HedgePool’s struggle to stay afloat
Lack of offsetting flow, tech bottlenecks and higher-than-expected costs weighed on start-up’s growth
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
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
