News
XTX Markets’ US sales head joins rival IMC Trading
Benjamin Klixball takes up new role at Dutch prop trader in New York
Macro trader Breakwell swaps Millennium for Point72
Scott Breakwell joins hedge fund in Sydney as Aussie rates and FX heats up
Canada joins central banks’ multi-currency blockchain project
Work advances on Project Agorá but ledger governance questions unanswered
Societe Generale sees several departures from FX desk
Among those leaving are co-head of FX options trading and several EMFX traders
Market-makers give mixed verdict as CME Spot+ turns one
Traders encouraged by depth of liquidity despite wider spreads and passive performance qualms
Former Citi FX options duo join Millennium and Morgan Stanley
The US bank has seen also made new hires for the options desk over recent months
LSEG’s FXall to launch credit-intermediated FX forwards service
Split Risk to allow buy side to tap best spot and swap prices to create forwards, and unbundle market and credit risk
DB eyes regional bank algo boost from smartTrade tie-up
German bank expects number of banks using its hedging algo suite to double following aggregator integration
Morgan Stanley’s DiTrapano joins DB in top e-FX role
He replaces Benedict Carter as global head of electronic FX spot trading
Deutsche Bank’s head of FX e-trading Benedict Carter retires
Carter spent over 15 years at Deutsche in various spot and electronic trading roles
Traders revive emerging market carry trades on vol drop
Investors turn back to high-yield Latin America currencies as implied volatility falls
FX options traders lost in Iran fog
Headline ‘ping-pong’ saps hedge funds’ conviction, though pockets of vol selling have re-emerged
Super fund FX growth threatens dealer ‘tipping point’
Overseas assets – and hedge ratios – set to grow, but lack of collateral squeezes banks
Korea’s leveraged ETF expansion aims to stem overseas outflows
Retail flows to US and Hong Kong listings may have exacerbated FX fragility
US policies eroding dollar’s position, say Knot and Obstfeld
Euro and renminbi unlikely to supplant greenback, but “more multipolar” system could arise
Staff exodus sparks questions about LMAX’s FX swaps venue
At least nine execs that joined from FX HedgePool – including CEO Jay Moore – have left the company
Bloomberg launches NLP tool for FX chat pricing
New product scans instant messages to aggregate bilateral FX quotes into a single workflow
Indian banks in race against clock to unwind USD/INR trades
An estimated $7 billion of open arbitrage trades are set to be unwound by April 10
Russell’s flexi hedging aims to tame jumpy yen
Japanese clients can dynamically switch hedging profile based on USD/JPY movements
Meta breaks ranks on FX hedging
Social media firm is first of three unhedged Mag 7 tech companies to begin using currency forwards
Franklin Templeton closes $5bn yen options book
Asset manager’s bets on USD/JPY soured as yen weakened through Q4