Asia
Super fund FX growth threatens dealer ‘tipping point’
Overseas assets – and hedge ratios – set to grow, but lack of collateral squeezes banks
Offshore speed, onshore depth: a new reality for FX liquidity
Stark differences emerge between onshore and offshore pricing during macroeconomic news events, finds LMAX Group’s head of data
Gap risk fears push FX traders into Sunday-night Asia hours
Volumes surge at Singapore open as Trump’s weekend announcements force early risk management
Renminbi options volumes plummet as vol grinds lower
USD/CNH volumes fell 84% in 2025 as PBoC currency management took hold
Will lifer exodus kill Taiwan’s NDF market?
Traders split over whether insurers’ retreat from FX hedging is help or hindrance
MAS official flags risks in Asia’s path to T+1 settlement
Regulator says region faces “unique challenges” in establishing a shorter settlement cycle
Compression eases capital, risk bottlenecks amid CNH swap boom
Dealers say multilateral compression for yuan cross-currency swaps can increase trading capacity
LSEG adds market risk optimisation for FX options
Tool attracts eight dealers and could be expanded to rates and equity options
Nomura eyes FRTB models expansion for FX desks
With rates desks all now on FRTB internal models, markets head says FX is next
PBoC’s language suggests policy shift on yuan – China economist
Central bank drops “cautious” from pronouncements on currency’s internationalisation
Real money rides the hybrid options wave
Insurers follow hedge funds into exotic trades with equity-down, yields-down recession plays
Hedge funds switch yen bets after Japan election shock
Takaichi victory forces unwinds and a move to topside trades, while barriers give dealers a headache
Hedge funds keep a toe in HKD carry trade despite rate rise
Positioning is currently a fifth of what it was in April, say dealers
Natixis bolsters Apac market-making presence with new hires
Additions include head of Apac linear G10 rates and FX trading, and China markets head
HKD trading surge highlights pegged currency challenges
Pricing options on currencies with a peg requires a “different mindset”, say traders
Why flows now rival fundamentals
Geography and market sentiment are having profound impacts on price action, says LMAX’s head of FX data
Hybrids go for gold
Spot gold surge sees investors eye dual digitals on new highs
Japan election result sours hedge funds’ yen options bets
Dealers saw flows in significant size for JPY weakness but were forced to take profits
Hong Kong intervenes once again to protect currency peg
Intervention is HKMA’s second at weak end of HKD/USD band in less than a week, with more likely
Chinese corporates shunned hedging during tariff upheaval
High hedging costs and increasingly stable spot rate meant exporters opted not to add FX hedges as RMB rose
For variation margin payments, cash is no longer king
Dealers are being pressed to accept corporate bonds and even equities as collateral for non-cleared trades