Bank for International Settlements (BIS)
CLS to launch CNH PvP settlement service
Plan will involve settling offshore renminbi in Hong Kong via a separate PvP session
BIS points to ‘structural transformations’ in markets
Quarterly review cites higher volatility and gold losing its status as a safe haven asset
Banks scale back short-dated FX swaps trading, BIS finds
Interbank FX swaps hit by higher short-term hedging and funding costs, while longer-dated forwards activity jumps
Do BIS volumes soar past the trend?
FX market ADV has surged to $9.6 trillion in the latest triennial survey, but are these figures representative?
BIS 2025 FX survey: What the results mean for global markets
Key findings from the BIS triennial FX and OTC derivatives survey
BIS says carry trade unwind is part of broader pattern
Multi-strategy hedge funds drive spillovers across asset classes, analysis finds
Triggers of August market ‘flare-up’ still in place, BIS warns
Leveraged positions remain at risk of sudden unwinding, as margin calls play amplifying role
Banks mull whether to stick or twist with SDPs
Fewer providers are going all-in on single-dealer platforms, as consolidation and outsourcing are on the cards
Basel Committee prepares crackdown on bank ‘window dressing’
Study says lenders have obscured their true systemic importance at reporting dates
BoE edges closer on FX settlement risk clarity
Central bank’s FX head says new survey will help to identify where risks may lie
CME unveils upcoming FX Spot+ trading platform
New Clob aims to bridge futures and spot FX liquidity
Traders, vendors seek to modernise chronically underinvested FX tech
The average FX professional uses eight applications at any one time, but integrating workflows is a daunting task
BIS wraps up cross-border CBDC trial
Project Mariana explored FX settlement using ‘automated market-makers’
On-chain FX’s brave new world excites some, worries others
Trading tokenised versions of currencies on blockchain could slash settlement risk but sceptics raise concerns over liquidity and pricing
A ‘unified ledger’ and the future of money
Blueprint set out by the BIS staff raises plenty of questions about the ‘singleness of money’
ECB signals tougher stance on FX settlement risk
Trader penalties and client exposure limits suggested in new central bank guidance
Why NDF execution algos might still hit the spot
Products have yet to live up to initial hype, but their long-term potential is significant
Bank ALM crisis leaves FX hedgers with steeper roll costs
Spreads on EUR/USD forwards jumped more than fourfold in past two weeks
BIS welcomes end to investors’ ‘sanguine attitude’
Optimism over future easing clashed with what central bankers were actually saying
Liquidity drops 80% on dealer balance sheet constraints – BIS
Study finds top-tier banks are more likely to pull back when leverage and funding costs spike
FX settlement risk grows again in latest triennial survey
BIS also finds falling market share on primary venues and more internationalisation of emerging currencies