Trading
Last look: who is axing hold times, who isn’t – and who won’t say
Liquidity providers rush to review trading policies as GFXC redoubles call for zero hold times
Is there an optimal time to trade FX?
CME’s Phil Hermon delves into futures data to search for the ‘hidden liquidity’ available during the trading day
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
Dealers back CLS plans for EM settlement system
12 banks announce support for project to extend PvP protection to certain CLS-ineligible currencies
Opt in or opt out: an FX class action decision worth millions
Six banks accused of manipulation may see 40% reduction in damages if UK lawsuit proceeds along ‘opt-out’ route
Dealer concentration in FX forwards
Counterparty Radar: data shows panel depth and top bank share correlated to size of manager’s book
Algos on parade: how top FX algo providers stack up
New FX Markets algo database shows differences across internalisation, analytics and client data handling
US funds’ FX forwards settlement dates show clustering effects
Counterparty Radar: Analysis shows concentrations appear on certain dates, which can differ by currency
Passive algos and patient traders
Are all passive fills worth having? XTX’s Matt Clarke says not
Invesco bets on new tech to refine its FX trading
Home-grown tool will improve order routing and execution strategies, asset manager believes
Drax commits to ESG-linked FX derivative targets with UK banks
Renewable energy supplier applies long-term ESG KPIs to short-term FX trades with Barclays and NatWest
FX industry shows little appetite for single API
Market players sceptical over need for standard programming code to connect clients with services
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
GFXC sees no changes to code on pre-hedging
Committee rejects calls to set more strict boundaries to controversial practice
OTC FX options market gears up for faster electronification
Share of electronic trading remains low but host of factors promise to change that for good
Has Covid stopped the clocks on FX timestamp efforts?
Budget reallocation may not be the only factor stalling standardisation progress, say participants
First P2P trade completed on Siege FX
Dark pool aims to match algo orders among its 30 buy-side clients
Digital Vega, Spark deal hints at wider shake-up for platforms
Two trading tech firms seek point of difference as dealers cull vendor relationships in cost-cutting drive
Banks nervy over GFXC plan for algo cover sheets
Disclosing inner workings of algorithms could result in loss of intellectual property, banks warn
A peek inside GFXC’s algo cover sheets
Order priority and segregation policy among the items under discussion
Asset managers hold the key to any FX revival
For a regime shift to truly occur, long-term investors need to get on board
Guy Debelle on the FX Global Code and the rise of the buy side
Code’s creators considering updates to sections on last look and pre-hedging
Benchmark rigging scandal: a remake in the making
Regulators should act now to prevent any repeat of the fixing scandal of 2013