State Street
Currenex and LPs move to dismiss class-action lawsuit from US
Defence lawyers say XTX is trying to dodge agreements that it would settle any complaint in UK courts
XTX joins Currenex class-action lawsuit
Non-bank LP claims rival HC Tech could see every order submitted to the platform
Vanguard eyes DLT for FX forwards after smart contract success
Fund giant hopes roll-out of tech in 2022 will deliver greater efficiency and pricing benefits
Currenex lawyers ask judge to dismiss class action lawsuit
Case alleging secret priority trading deals brought too late and not based on facts, defence argue
State Street launches tri-party custody for IM clients
Third-party provider begins shifting phase five clients to full-service collateral model
Phase five margin queues spur calls for custody revamp
Custodians urged to update “antiquated technology” ahead of threefold jump in phase six initial margin onboarding
Morgan Stanley bests Citi as top forwards shop for US funds
Counterparty Radar: A $30bn boost from Vanguard sends MS to top of Q2 charts
Currenex class action faces hurdles, say legal experts
Case against Goldman, State Street, HC Tech and the ECN could raise questions around statutes of limitations and damages calculations
Crypto market structure pushing institutions towards synthetics
Credit risk and custody challenges with spot could push investors to derivatives and ETPs
Vanguard extends forwards dominance as Citi dips
Counterparty Radar: Fund giant responsible for more than a third of total forwards volumes and half of EUR/USD in Q4
A bitcoin ETF could threaten the world’s biggest crypto fund
Regulated funds may suck away demand for Grayscale’s off-exchange investment trusts
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
Citi extends lead in FX forwards, BNP Paribas climbs
Counterparty Radar: Total value of forwards positions jumps 11% after second-quarter dip
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
Filings reveal biggest FX forwards dealers
Counterparty Radar: Group of four banks executed 47% of sector’s trades during second quarter
Choppy markets revive quest for RFQ’s ‘magic number’
Deutsche argues for smaller, stronger panels; Citi offers better prices for 'full amount' trades
FX swap users hope to avoid month-end crunch
Blowout in spreads prompted SSGA and other managers to limit need for hedges on March 31
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
Chen joins State Street Hong Kong in EM FX trading
Previously at Cathay United Bank, he joined last month
FX last look: how non-banks stack up
Research shows patchy disclosures plus differences from banks on pre-hedging and rejected orders
Gary Leung joins State Street Bank in FX trading
Leung moves from the Bank of China
Gölitz joins SocGen Securities Services
Klaus Gölitz moves from FX sales and trading role at State Street
Refinitiv adds to buy-side offering with AlphaDesk acquisition
Deal lets vendor add OMS functionality to existing trading workflow