United States (US)
Double, but no trouble? CVA capital hit may lack clout
Industry opinion mixed around Basel III endgame derivatives charge
Pimco slashes short dollar forwards at year-end
Counterparty Radar: EUR/USD cuts drive $86.5 billion reduction
Citi tops 2025 FX trading revenues on hedging surge
US dealer posts 50% increase as Liberation Day turbocharged client activity
JP Morgan gives corporates an FX blockchain boost
Kinexys digital platform speeds cross-currency, cross-entity client payments
FXSpotStream expands into US Treasuries trading
Bank-owned streaming venue targets mid-year launch, offering “all you can eat” subscription fees
SpectrAxe steps into FX forwards and swaps
US regulatory filings show options Clob is expanding into linear instruments
US insurers turn to short-dated FX forwards as notionals rise
Counterparty Radar: Trades under three months make up nearly 60% of total positions, up from just a third in 2022
Dealers warn of capital squeeze from increased FX hedging
Sharp rise in uncollateralised buy-side hedges could restrict banks’ ability to take on positions
Real money looks to dynamic hedges after tariff bout
FX Markets Europe: Buy-siders are adopting more responsive FX hedging strategies after correlations broke down
Pimco piled into euro put options in Q2
Counterparty Radar: EUR/USD buying spree takes Pimco’s FX options book to $7 billion
XTX alleges Currenex entered own trades ahead of users
Market-maker claims venue used triangular arb tool to trade before users
CFTC sprints to approve spot crypto trading by year-end
Acting chair Pham also expects tokenised collateral to be up and running by then or early 2026
Real money rides the hybrid options wave
Insurers follow hedge funds into exotic trades with equity-down, yields-down recession plays
Fed official dismisses de-dollarisation talk
Speakers at IIF conference believe dollar selloff is cyclical rather than a structural decline
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
How Amundi’s options strategy profited from dollar slump
French asset manager grabbed euro call options at low prices in a tactical pivot for its FX absolute return fund
The investors who aren’t fretting over Trump’s stat sulk
Some see dismissal of statistics agency chief as an assault on US institutional integrity; for others it offers a chance to throw off outdated methods
Barclays braces for a macro storm
Client FX hedging signals helped bank navigate April’s US rates volatility
HSBC, Goldman prevail in shake-up of FX Markets’ Dealer Rankings
The pair thrived serving US retail funds, while Morgan Stanley retained title with life insurer clients