Electronic trading
Internalisation trend driving FX market opacity to new highs
FX Markets Europe: Dealers say they internally matched up to 1,500% more volume than public markets during April
XTX alleges Currenex entered own trades ahead of users
Market-maker claims venue used triangular arb tool to trade before users
Inside Citi’s FX refresh
Flavio Figueiredo revelas how the bank revitalised its options and e-trading units – and finally tackled SA-CCR
LSEG readies hard matching on forwards venue
Forwards Matching eyes Q4 start for new function that enables faster credit checks
Wells Fargo hires e-FX trading head for Europe
US bank also makes several senior changes to its European FX and rates trading business
Do humans still have a role in institutional FX?
As machines take over interactions between the buy and sell side, what’s left for human traders, asks Record’s Vurgest
How FX pricing is adapting to Trumpian markets
Dealers are tying pricing engines to new signals in effort to cope with out-of-the-blue moves
Barclays braces for a macro storm
Client FX hedging signals helped bank navigate April’s US rates volatility
Trump’s FX impact: a tale of two terms
Traders say Trump version 2.0 is already proving a much trickier task to manage than the original, and have had to adapt
Hedge before the fix to avoid predatory traders – research
In simulations, slow and steady hedging for 4pm benchmark orders shaved up to 25% from costs
CME boosts FX access via new vendor partnerships
Tie-ups with Trading Technologies and Integral to bring new liquidity into EBS and Spot+ venues
How FX traders searched for the light amid tariff turmoil
Traders found consistent and actionable pricing in lit FX spot and futures order books during volatility rollercoaster in Q2, finds CME
Crackdown on FX vendors could raise costs for dealers
MTF designation could cost aggregators and EMSs $3m to set up and $1m in annual maintenance
BNP Paribas eyes selective algo white label tie-ups
The French bank struck its first FX algo white-labelling partnership with Lloyds
Citadel Securities’ head of electronic FX departs
Kevin Kimmel’s departure comes just two weeks after the resignation of sales director Brian Seegers
Disclosed trading an oasis in the FX liquidity ‘mirage’
LPs say growth of relationship-based trading bolstered market during April volatility
Eyes on automation as FX options volumes surge
Dealers and trading platforms are gradually making progress to electronify FX options pricing and workflows
State Street’s interop play for FX
About six years ago, State Street partnered with Interop.io to tie together its GlobalLINK suite of platforms. How does this play into the “re-use” mantra?
SpectrAxe hires Deutsche’s Schultz as Americas COO
Former prime brokerage exec will look to expand FX options venue’s credit intermediation network
EMS vendors address FX options workflow bottlenecks
Vol jump drives more buy-side interest in automating exercises and allocations
FX liquidity ‘worse than Covid’ amid tariff volatility, dealers say
Available liquidity for single clips dropped to as low as $20 million ahead of tariff pause