Forwards
Morgan Stanley back on top for US insurer FX forwards
Counterparty Radar: Bank added $1.7bn with Mass Mutual in Q4 to overtake Citi as biggest dealer
How corporates are tooling up for FX risk
Unstable markets have forced corporate treasurers to adopt whizzier methods for managing currency exposures
US insurers take different paths to hedge FX
Counterparty Radar: Maturity and size of FX forwards trades vary significantly between firms
LatAm electronification – a market stuck in the past
Electronic pricing and execution of Latin American currencies is still lagging, say dealers
Hedge funds turn to exotics for EM carry trades
Traders eye dual digitals to cheapen up carry plays
US banks eye collateralisation to tackle SA-CCR costs
Dealers are asking asset managers to post margin on their FX swaps and forwards to offer more competitive prices
US banks fight back in FX forwards
Price differentials have narrowed as banks learn to live with SA-CCR
NatWest’s plan to put the XVA into RFQs
Bank to launch approximation tool on its electronic pricing framework for FX forwards
HSBC, JP Morgan and Morgan Stanley take top spots in FX dealer rankings
US dealers tend to have larger books, but face increased competition from European rivals, according to new analysis
Fidelity FX forwards trades propel BofA to top dealer spot
Counterparty Radar: Bank of America takes dealer rankings lead in Q1 for the first time
Mizuho fined over deal contingent FX forwards
CFTC finds clients weren't told about pre-hedging activity that likely resulted in worse pricing
Large US funds shrink exposure to top FX forward counterparties
Smaller managers increase top-dealer allocations as big beasts pull back
LSEG’s FXall to open access for banks’ NDF algos
Move tipped to help smooth buy-side adoption of algo execution for non-deliverable forwards
Chinese corporates step up FX hedging after reopening
Exporters eye hedges as RMB strengthens, but negative forwards points are a turn-off for some
Bank ALM crisis leaves FX hedgers with steeper roll costs
Spreads on EUR/USD forwards jumped more than fourfold in past two weeks
Refinitiv’s FXall launches automated forward fixing tool
New service offers asset managers automatic competitive pricing for a benchmark trade’s forward points
FX settlement risk grows again in latest triennial survey
BIS also finds falling market share on primary venues and more internationalisation of emerging currencies
Corporates rush to hedge emerging market currency risks
Falling forward points have reduced cost of hedging further drops in Chinese renminbi
Market weighs viability of spot FX clearing
Supporters believe it could remove credit risks, but others say it would be unnecessary and add costs
Optimising swaps and forwards: mitigating risk and reducing all‑in cost
A forum of industry leaders discusses the rising cost of FX forwards and swaps under the standardised approach to counterparty credit risk, how vendors are adapting optimisation solutions to manage the impact of this new regime, and whether banks are…
Will last look disclosures come to FX derivatives?
JPM and NatWest have published their swaps and options last look windows – will others follow suit?